LexisNexis® Legal Newsroom
Columnist in one of New York's Poorest Counties Sees the Estate Tax as a "Major Issue"

Hi Y'all. I'm back. Sorry for the big break in posting. I'll try to do better. In this election year, I haven't heard that much talk about the estate tax - or as the Republicans like to call it, the "Death Tax." As I've written about before, the estate tax is imposed...

Tax Court Digs the Knife in Deeper in Bad Family Limited Partnership Case

Today [March 30th] we learn from a supplemental opinion to Turner v. Commissioner, TC Memo 2011-209 Aug 30, 2011 (Estate of Turner I ), that a marital deduction is not available when § 2036 is deemed to pull assets back into the estate, but the assets aren't actually there to give to the surviving...

Attorney Charged with Ethics Complaint over Probate Blog

Every now and then, blogging will get someone in "trouble." See e.g. Rakofsky v. Internet , in which one Joseph Rakofsky sued a whole bunch of bloggers and other media over their posts criticizing among other things, his competency and ethics. I put the words "trouble" in quotes,...

An Introduction to the Problems of Estate Planning for Digital Assets

Have you ever wondered what happens to your digital assets when you die? By digital assets I mean your email, Facebook, Twitter and other accounts. What about your iTunes music purchases? You Amazon Kindle books? Are you allowed to transfer your music to your beneficiaries? How do you access your...

Both Attorneys and Courts are Tired of Financial Institutions’ Refusal to Accept Powers of Attorney

Banks Often Refuse to Accept Powers of Attorney One of the things that's becoming more and more frustrating for trusts and estates lawyers in Florida is the refusal of banks and other financial institutions to accept properly drafted powers of attorney. A power of attorney is a document...

David Shulman: Who Gets Paid If an Alleged Incapacitated Person Dies Before the Hearing? Nobody?

By David Shulman I’m sure there are some independently wealthy attorneys out there who take all of their cases pro bono . Most of us though are hard-working schlubs like everyone else who while we love what we do, need to pay the bills too. When we work there is some hope or expectation of getting...

David Shulman on Estate Planning: Finding Your Digital Assets After Death

by David Shulman I’ve written before about estate planning for your digital assets and online accounts. Well this article isn’t necessarily about planning , but what happens after you die – especially if you don’t plan (or even if you do). I do both estate planning and probate...

David Shulman: Gizmodo Gets Everything About the Fiduciary Access to Digital Assets Act Wrong

By David Shulman As I’ve written recently , the Uniform Law Commission approved the Uniform Fidicuary Access to Digital Assets Act. The act can be found on the Committee’s website , along with supplemental material, such as prior drafts, comments, and issues memorandum. A direct link to...

David Shulman on Estate Planning: Facebook Allows Users to Designate a ‘Legacy Contact’ to Manage Their Account After Death

Finally. For those who have been following, the issue of “digital assets” is a fast developing problem in the estate planning world. Putting aside for a moment who has the right to “inherit” your assets, the bigger problem with estate planning attorneys is who has access to...

David Shulman On Estate Planning: Google Updates Page Regarding Deceased User’s Account

By David Shulman It looks like Google recently updated the support page in which a person can request information regarding a deceased user’s account. Now the options are: Close the Account of a deceased user Submit a request for funds from a deceased user’s account Obtain data...

David Shulman: ULC’s Revised Uniform Fiduciary Access to Digital Assets Act Supported by Tech Industry

By David Shulman The Uniform Law Commission is a non-profit organization that drafts “model” or “uniform” laws that can be adopted by state legislatures. Individual legislatures can then adopt the act as is, or can tweak it as they see fit. I have previously written about the...