Estate and Elder Law

Recent Posts

The Duty to Report in Trust Accounting
Posted on 20 Sep 2011 by California Trust Litigation

By Dawn M. Hall Cauthen Dawn M. Hall Cauthen is senior counsel at Procopio, Cory, Hargreaves &Savitch LLP in Carlsbad, California, where she focuses her practice on the areas of estate planning, trust administration, probate, estate tax and... Read More

Short-Term GRATS: A Thing Of The Past?
Posted on 29 Oct 2009 by David R. Schoenhaar

A grantor retained annuity trust (GRAT) is an estate planning technique used to transfer wealth to the next generation with little or no gift tax consequence. Essentially, the Grantor transfers an asset that is likely to experience significant appreciation... Read More

Tags: Trusts

The Cats Win, The Dogs Lose: Court Upholds the Validity of Pet Trust For Cats
Posted on 10 Jul 2014 by Peter K. Kelly

By Peter K. Kelly | Leonore Abels in her Will provided that her residuary pass in trust for her husband Joel Abels and, in the alternative should he predecease her, all of her property be sold, except her house, and held by the trustee to maintain... Read More

New York Obtains Jurisdiction over Non-U.S. Jurisdiction/Cook Island Trustee
Posted on 23 May 2012 by Marc J. Soss

Southpac is a trust company that operates in several Non-U.S. jurisdictions, including the Cook Islands and Nevis (both have aggressive asset protection laws that seek to attract international asset protection trusts). Most individuals seeking non-U.S... Read More

Is That Irrevocable Trust Really Irrevocable? – Perhaps Not
Posted on 12 Nov 2009 by Adam J. Gottlieb

By Adam J. Gottlieb I. Introduction. Even under normal circumstances, at some point after an irrevocable trust is created and funded, it may no longer serve the purpose for which it was originally intended. But what options are available to the grantor... Read More

Tags: Trusts , Gottlieb

Minor children? Here are the steps you need to take to protect them
Posted on 8 Feb 2013 by karplaw

The importance of life insurance for parents with young children cannot be overstated. However, insurance is just one part of the story. To ensure your child's financial security, you need to properly plan for how the proceeds will be distributed... Read More

Trust Administration Issues
Posted on 21 Jan 2011 by Sandra L. Smith

A recent Georgia Court of Appeals case highlights several issues with respect to administering trusts. In McPherson v. McPherson , (2011 Ga. App. LEXIS 8, January 11, 2011) , the Georgia Court of Appeals considered a case in which a father established... Read More

"The Descendants" Shows Challenges for Trustees
Posted on 29 Nov 2011 by karplaw

I saw "The Descendants" this weekend, a new film starring George Clooney. The film has an estate planning subplot that masterfully portrays how difficult it can be to satisfy all family members when an estate planning pie must be divided... Read More

Morrison & Foerster LLP: Dynasty Trusts: The Perpetuities Patchwork and Other Considerations
Posted on 3 Dec 2012 by Morrison and Foerster LLP

By Genevieve M. Moore , Morrison & Foerster LLP As the year winds down, many of our clients are taking advantage of the unprecedented opportunity to make gifts of up to $5,120,000, per donor, free of any federal gift tax. Since the federal generation... Read More

Are Trust Protectors Good or Bad?
Posted on 27 Apr 2012 by David Goldman

A trust protector is a person or group of people (not the settlor, beneficiary, or trustee) who are appointed to exercise one or more powers affecting a trust and the interest of the beneficiaries. The concept of a trust protector is to protect beneficiaries... Read More

Trust Administration Issues
Posted on 21 Jan 2011 by Sandra L. Smith

A recent Georgia Court of Appeals case highlights several issues with respect to administering trusts. In McPherson v. McPherson , (2011 Ga. App. LEXIS 8, January 11, 2011) , the Georgia Court of Appeals considered a case in which a father established... Read More

Estate Failed to Prove Museum’s Laches on Claim to a 3,000 Year Old Archeological Artifact Missing Since WWII
Posted on 6 Jan 2014 by LexisNexis Legal Newsroom Staff

By John G. Farinacci, Esq. In a rather unique ceremony at the Nassau County Surrogate’s Court on December 4, 2013, Surrogate Edward W. McCarty, III ordered and presided over the physical return of an ancient Assyrian artifact from the possession... Read More

Elaine Gagliardi on Valuation of Retained Interests in Trust
Posted on 3 Apr 2009 by Elaine Hightower Gagliardi

In this Commentary, Elaine Gagliardi discusses proposed regulations specifying the amount to be included in the gross estate when the decedent at death retains an income, annuity or unitrust interest in a trust or the right to use a personal residence... Read More

Tags: Trusts

Amendment of Trust by Grantor’s Attorney-in-Fact
Posted on 8 Aug 2012 by Peter K. Kelly

An irrevocable and unamendable trust can be revoked or amended during the life of the grantor under certain limited circumstances. New York's Estate Powers and Trust Law (EPTL) provides in Section 7-1.9 that upon the written acknowledged consents... Read More

Virginia Self-Settled Asset Protection Trusts
Posted on 18 May 2012 by John Dedon

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... Read More