Wealth Strategies Journal

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Month: July 2014 (page 1 of 12)

The Stripping of the Trust: A Study in Legal Evolution by Adam S. Hofri-Winogradow

Adam S. Hofri-Winogradow has published his article, The Stripping of the Trust: A Study in Legal Evolution.  The abstract is as follows:

The law of trusts has spent the last twenty years rapidly shedding many traditional requirements, forms and restrictions which imposed liability on negligent trustees, protected vulnerable beneficiaries and

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Revisiting the Revolution: Reintegrating the Wealth Transmission System by Melanie B. Leslie, Stewart E. Sterk

Melanie B. Leslie and Stewart E. Sterk, both of Cardozo Law School, have published their article, Revisiting the Revolution: Reintegrating the Wealth Transmission System.  The abstract reads as follows:

Thirty years ago, John Langbein published The Nonprobate Revolution and the Future of Succession. The article celebrated testators’ newfound ability to

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Unconstitutional Perpetual Trusts by Steven J. Horowitz, Robert H. Sitkoff

Steven J. Horowitz, of Sidley Austin, and Robert H. Sitkoff, of Harvard Law School, have published their article, Unconstitutional Perpetual Trusts.  The abstract reads as follows:

Perpetual trusts are an established feature of today’s estate planning firmament. Yet little-noticed provisions in the constitutions of nine states, including five states that

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The Thursday Report – 7.31.14 – BP Paying and Nevis Trusts – Gassman Law Associates, PA – Gassman Law Associates, PA

Alan Gassman has published his weekly Thursday Report.  This weeks report includes the following items:

  • BP Opens the Spicket – Claims are Being Processed, Appeals are Proceeding and Payments are Being Issued and Received on BP Claims – Make Sure Your Claim is Right and Do Not Delay Filing or
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The Stored Communications Act and Digital Assets by David Horton

David Horton authored an article, The Stored Communications Act and Digital Assets.  The abstract reads as follows:

The story has become all too familiar. Someone dies, and her loved ones request the contents of her text, email, or social media accounts. Perhaps they wish to preserve this vibrant electronic slice

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Navigating a Post-Windsor World: The Promise and Limits of Marriage Equality by Nancy J. Knauer

Nancy J. Knauer has published an article, available for download, Navigating a Post-Windsor World:  The Promise and Limits of Marriage Equality.  The abstract reads as follows:

When the 2013 landmark decision in U.S. v. Windsor invalidated part of the Defense of Marriage Act (DOMA), it was hailed as a landmark

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Alms to the Rich: The Façade Easement Deduction by Wendy C. Gerzog

Wendy Gerzog has published an article, Alms to the Rich: The Facade Easement Decution.  The abstract of article, available for download, is as follows:

This article presents the case for repeal of the façade easement deduction. Proponents of this benefit argue that the deduction encourages historic preservation by reimbursing property

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Court Rulings in Estate Tax Cases: Is Gender a Factor? by Mark Jackson, Sonja Pippin, Jeffrey Wong

Mark Jackson, Sonja Pippin and Jeffrey Wong, of University of Nevada, Reno, Dept. of Accounting, have written an article , Court Rulings in Estate Tax Cases: Is Gender a Factor? The abstract for the article, is as follows:

The U.S. court system plays an important role in resolving asset valuation

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Many Reasons to Offer 401(k)s (Including Owner’s Retirement)

The NY Times Bucks column reports that setting up a 401(k) plan is considerably easier and cheaper than it was just a decade ago.

Setup and administrative costs vary from one provider to the next — and increase if the plan offers more customized investment options, hands-on advice and other … Continue reading

Nonspousal Inherited IRA Assets Protected In 7 States

Insurance News Net reports that bankrupt investors lucky enough to benefit from nonspousal inherited individual retirement accounts (IRAs) are better off living in some states.

Alaska, Arizona, Florida, Missouri, North Carolina, Ohio and Texas are the only states where nonspousal inherited IRAs are safe from trustees seeking assets in the … Continue reading

House May Vote This Year to Repeal Estate Tax, Camp Says

Bloomberg reports that Republicans are considering voting this year to repeal the U.S. estate tax, said House Ways and Means Chairman Dave Camp.

The measure would probably pass the House, given that more than half of the House members are co-sponsoring a repeal bill. President Barack Obama and many Democrats … Continue reading

New treatment of disguised sales and partnership liabilities

The Journal of Accountancy reports that the IRS issued proposed regulations in January dealing with disguised sales of property to or by a partnership under Sec. 707 and the treatment of partnership liabilities under Sec. 752 (REG-119305-11). According to the IRS, the proposed regulations are designed to address “deficiencies and … Continue reading

People look to Yelp to find lawyers online, survey says

The ABA Journal reports that people use Yelp more than traditional legal directories, such as Martindale Hubbell, to find lawyers, nothing the following”

Larry Bodine noted a survey of 3,465 people finding that 58 percent of those seeking lawyers make their first stop at business review site Yelp. And this

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Latest legal victory has LegalZoom poised for growth

The ABA Journal reports that, after a recent legal victory, LegalZoom is poised for growth, nothing that:

In recent years, LegalZoom has faced lawsuits in eight states seeking to shut it down for violating state laws barring the unauthorized practice of law. But with a notable recent victory in South

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Uniform Voidable Transactions Act (“UVTA”)

Gerry Beyer reports, on his Wills Trusts & Estates Prof Blog, that the Uniform Voidable Transactions Act (UVTA) was adopted July 16, 2014 by the Uniform Law Commission, and amended the 1984 Uniform Fraudulent Transfer Act (UFTA). The UVTA added a Conflict of Laws section to the act to account … Continue reading

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