I was talking to someone the other day who wanted to change their Will, which was not originally drafted by me, and asked me if I would do a a codicil for them.
I told them no.
While I would be happy to draft a new will from scratch, I don't...
A will that identified
the sole vested beneficiary as "Ryan Living Trust" made the following
provision for the distribution of property:
give all of my property of whatever nature and kind and wherever located to my
Aronberg was driving southbound on the New Jersey Turnpike when a tractor
trailer careened into the rear of his car, killing him. On the day of the fatal
accident, Aronberg, then thirty-four years old, was an uninsured motorist.
The recent U.S. Third Circuit Court of Appeals case Estate of Kensinger v. URL Pharma, Inc. [ enhanced version available to lexis.com subscribers ] involved an lawsuit by a decedent's estate against an ERISA plan administrator and the decedent's...
By David W. Tate
The possible indicators of elder and dependent adult financial abuse
are numerous. It is not possible to provide an exhaustive list and from
a legal perspective for a variety of evidentiary reasons proving abuse
in a court of...
As North Carolina business owners and other taxpayers adjust to the effects of the 2012 American Tax Payer Relief Act , they are starting to focus on asset protection strategies at the same time as minimizing taxes to the fullest extent possible.
It is well-understood by estate
practitioners that a beneficiary of an estate should not serve as an attesting witness
to a will. If he does, he or she is a
competent witness for purposes of probating the will, however, under EPTL
3-3.2 , the bequest...
Painter of Light's estate battle settled quietly, out of court
In my June 15, 2012 post I discussed the legal brouhaha over the estate of the late Thomas Kinkade, America's "Painter of Light." Kinkade died suddenly in 2012 in California...
The beginning of open enrollment and intense speculation about the election's impact on Medicare are not the only Medicare-related headlines these days. A new development may greatly help Medicare beneficiaries with chronic conditions who need skilled...
A new estate battle is capturing public attention. As often is the case, it involves questions about undue influence. What's not so usual is that the conflict is unfolding in two states: Minnesota and Florida.
You may not know the late Jeno Paulucci...
The fiscal cliff deal has not only affected income and estate taxes, but it has also changed how retirement rollovers are handled.
The new provision gives freedom to retirement account holders. Anyone with a 401(k) , 403(b), or a...
According to the 1 st District Court of Appeals ruling in Morey 2004 v. Everbank , and Air Craun, Inc, 37 Fla. L. Weekly D1739 [ enhanced version available to lexis.com subscribers ], simple estate planning mistakes can defeat years of asset protection...
Settlement of a wrongful death action can pose a challenge
for the decedent's attorney. Wrongful death actions are usually a two-step
process. First, the trial court handles the wrongful death action itself, and then
the Surrogate's Court, which...
Do ERISA and the IRC prohibit enforcement of a money judgment against a defined contribution plan? In this Analysis, Barry L. Salkin of Olshan Grundman Frome Rosenzweig & Wolosky LLP addresses this and the other issues. He writes:
SUMMARY : A defined...
David R. Schoenhaar, Esq.*
common Estate Planning technique is the utilization of intentionally defective
grantor trusts. A grantor trust is a
trust in which the grantor is treated as the owner for income tax purposes and when
the grantor dies...
Drafting New York Wills § 17.04
New York Wills and Related Documents Fourth Edition
Copyright 2010, Matthew Bender & Company, Inc., a member of the LexisNexis
Part II Drafting New York Wills
Subpart G Sample Wills...
As reported in April , Clay M.
Greene filed a lawsuit against Sonoma County after the County allegedly
isolated him from his partner of 29 years (placing the men in separate nursing
homes) and selling off their belongings under a conservatorship. Mr....
Effective July 1, 2012, Virginia will be the 13 state to allow self-settled Asset Protection Trusts. Self-settled Trusts allow an individual to transfer assets to a Trust, protect the transferred assets from lawsuit and the transferor's creditors...
By Prof. Michael T. Flannery
When preparing a revocable living trust for a client, consider the client's desire to plan for companion animals, which is an increasingly important option for pet owners. As of mid-2011, approximately 62...
BY: MARK S. THOMAS & ROBERT W. SHAW
The U. S. Court of Appeals for the Seventh Circuit has affirmed [ enhanced version available to lexis.com subscribers ] a trial judgment against a class of former employees of Abbott Laboratories ("Abbott"...
have long regarded trusts as essential tools for estate planning in no small
part because of the potential they offer for federal gift and estate tax
savings if structured properly. With so
much emphasis on federal tax issues, however, as...
23rd, President Barack Obama signed into law the nation's most sweeping social
legislation in decades. After over a year of gruelling debate in Congress,
American consumers can now try and figure out how they will be affected by the
Upon repeal of the federal estate tax laws, many estate
planners were forced to take a closer look at specific sections of the Internal
Revenue Code affected by repeal. One
provision that has received particular attention is section
2511(c) , which became...
Until now, the option of contributing to a Roth IRA was
limited to those individuals with modified adjusted gross incomes below roughly
$176,000 (for married taxpayers filing jointly) or $120,000 (for single
taxpayers or those filing as head of household...
Florida's Medicaid rules are complicated, and always changing. Just a few weeks ago Medicaid increased its so-called monthly penalty divisor. Now, it's been increased again.. Effective Sept. 1, 2012 Florida Medicaid's penalty divisor increases...