LexisNexis® Legal Newsroom
Adam J. Gottlieb
Is That Irrevocable Trust Really Irrevocable? – Perhaps Not

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...

David Goldfarb
Problems with New York’s New Power of Attorney Law

New York enacted a new power of attorney law in 2008, effective September 1, 2009. The new law contains major changes relating to both the content and the execution of the power of attorney form, including an acceptance by the agent. If a principal wants...

Henry (Terry) Christensen III, Esq.
Asset Protection Trusts for U.S. and Foreign Persons

This chapter was originally published as Chapter 9 of International Estate Planning , written by Henry (“Terry”) Christensen III, Esq., a partner at McDermott, Will and Emery, in New York City . © 2009 by LexisNexis Matthew Bender. To...

Peter K. Kelly
Ancillary Probate

Because of the increased mobility of our society, non-domiciliary decedents often possess New York assets. A Will is normally probated in decedent’s domicile but when the decedent dies with property located outside his domicile, especially real...

Tags: Probate
Marc Soss
Naming Your Trust as the Beneficiary of Your Retirement Plan

Qualified and Nonqualified Retirement Plans (“Plans”) are today one of the most valuable assets that an individual owns at their time of retirement and death. Participation in Plans is subject to guidelines and rules that must be strictly...

Tags: Trusts
Danielle T. Zaragoza, Esq., & Patrick McCabe, Esq.
Selling a Life Insurance Policy: Income Tax Consequences for a Non-Grantor Trust Seller and a Grantor Trust Purchaser

Introduction The use of an irrevocable trust to hold one or more life insurance policies, with the main purpose of keeping the life insurance proceeds out of the grantor’s estate, is an established estate tax planning technique. There are circumstances...

Tags: Trusts