Summary : In a case likely to stir controversy, the Illinois Supreme Court recently handed down a decision upholding a testamentary trust that disinherited a beneficiary simply because she had married outside the testator’s religion. The case, In re Estate of Max Feinberg, was a major victory for...
The January 8, 2010, issue of the Oast & Hook News discussed
Medicare premiums for 2010, and stated that some beneficiaries would pay higher
part B premiums in 2010. Most beneficiaries will not see an increase in
2010 because of the Social Security Act's "hold harmless"
The New York Times ran an article
'No Thanks' to a Bequest ". In the article, Deborah L. Jacobs
explores how a disclaimer provision either included in an estate plan, or
created after death, can achieve some estate tax savings in this environment of
The last issue of the Oast & Hook News addressed the estate
tax laws that are effective for 2010. This issue of the Oast and Hook
News will explore the issue of carryover basis. In previous years, the
beneficiaries of estates received a great income tax benefit known as the "step
Raymond Camiscioli, Esq., LexisNexis Director of Content Development,
has created a helpful PowerPoint presentation setting forth the steps for using
public records databases on lexis.com to assist in the location of missing
persons. The databases are particularly helpful in locating beneficiaries.
Sometimes estate plans
need to be modified because relationships change. A testator's desires may
change and affect the designation of beneficiaries in an irrevocable trust.
Where trusts have "bad" beneficiaries or undesirable terms, one
option to fix the problem is to modify the trust...
Insurance is subject to estate tax if the insured owns it. One way to avoid estate taxes is for an
irrevocable trust for the benefit of the children of the insured to be the
applicant, owner and beneficiary of the insurance policy. But, under this solution, the spouse of the
insured gets no...
You Will usually says "I leave my estate to my children" or maybe "to my grandchildren" or "to my children, and if a child isn't living, then to their children". You will notice that no names are being used. Guest blogger Stacey C. Maiden, Esq ., Of Counsel to our Tax...
Who would have thought it, but the 1041 income tax return for an estate could make the beneficiaries money.
Many times an estate may have deductions in excess of its income. An estate's income would include any items of income earned by the estate from the time of the decedent's death until...
By David W. Tate
New trust case-remainder beneficiary of revocable trust lacks standing to bring action against trustee-Estate of Giraldin
Dave Tate, Esq. (San Francisco)
In Estate of Giraldin (California
Court of Appeal, Fourth Appellate District, Case No. G041811, September...
The U.S. Supreme Court recently handed down its decision in the case of Astrue v. Capato. The circumstances of the case are ones most of us will never experience. Nonetheless, the case has lessons for everyone. It underscores the importance of creating a precisely worded estate plan that takes all contingencies...
In law school we learned about the "fertile octogenarian" - a theoretical construct about what would happen to a property distribution scheme in an estate plan if you had some wacky birth order situation (ie: my great-uncle is 60 years younger than me). Back in 1995, this was largely theoretical...
By Hadar L. Avraham* and Raphael J. Avraham**
* J.D., University of
Arizona James E. Rogers College of Law, 2008. ** J.D. Candidate, University of
Arizona James E. Rogers College of Law, 2013; M.B.A. Candidate, University of
Arizona Eller College of Management, 2013.
from In re Estate of...
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 under the will is void unless (i) two other persons...
By Liza Weiman Hanks |
Dear Liza: I want to name my minor grandchildren as beneficiaries of my IRA account. How do I do that? Can I use my Will? It’s a smart idea to name minors as beneficiaries of your IRAs. Since they are young, they’ll be able to withdraw that money slowly over their...