Transferring a personal residence to a qualified personal residence trust (QPRT) is a common estate-planning technique used to make an inexpensive gift of a residence to the next generation. QPRTs may be particularly attractive now. The bursting...
It's well settled in American jurisprudence governing trust administration that the trustee's duties of due care and prudence in holding and managing trust assets include the duty to diversify investments.
On Jan. 1, 2009, the federal estate tax applicable exclusion amount jumped from $2 million to $3.5 million the most significant increase since the passage of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA).
We practice law because it is interesting, challenging, we are good at it, and we are professionals. We also practice law because it is our business. As in any business, we expect that fees charged should equal fees collected and feel a certain...
File this under “Financial Planning 101.” What to do when a big client’s big bonus and severance package may be the future legal target of disgruntled employees and shareholders?
Despite her sole discretion over a trust, a decedent did not possess at the time of her death a general power of appointment over property in the trust. In Technical Advice Memorandum 200847015 (July 30, 2008), the decedent's husband's will...
Despite her sole discretion over a trust, a decedent did not possess at the time of her death a general power of appointment over property in the trust. In Technical Advice Memorandum 200847015 (July 30, 2008), the decedent's husband's will...
Although the introduction to Megan Pendleton's Intestate Inheritance Claims: Determining a Child's Right to Inherit When Biological and Presumptive Paternity Overlap suggests an exploration of the new forms of American family that result...
These days everyone is suffering. The media has been all over the story of the credit bust, the drop in housing values, the stock market's dive since Labor Day, and how these events have wiped out the American Dream. Financial advisors and other...
For some time, prominent commentators have requested that the Internal Revenue Service publish official guidance to deal with this increasingly common scenario:1 A deceased spouse's IRA is payable to a trust in which the surviving spouse is the...
