by Martin M. ShenkmanSummary: If a trust is treated as owned by the person setting it up ("grantor") for income tax purposes, good tax results follow. The grantor can pay income tax on trust earning allowing tax free growth of...
Continue reading "Practical Planner: Grantor Trusts - All that Glitters Is Not Gold"
By Julius H. Giarmarco, Esq. The Federal Deposit Insurance Corporation (FDIC) insures bank accounts against a bank failure. The FDIC limits are per bank - not per account. Generally, accounts are insured for $100,000 per depositor for each...
Continue reading "New FDIC Insurance Rules for Living Trust Bank Accounts"
This article was previously published in the 85 North Carolina Law Review 1595 (2007). Please note that this article has not been updated since its original publication and therefore does not reflect developments from 2007-2009. by Thomas P. GallanisHIGHLIGHT: This Article...
By Patricia M. Annino, Thomas D. Davidow, Ed.D, George Burns, Esq.It seems that every day another major financial institution crashes with little warning to the public, high net worth families and/or business owners. This financially unstable climate raises the question:...
Nancy G. Fax Introduction The Uniform Trust Code (UTC) is the first national codification of the law of trusts. Since it was completed by the National Conference of Commissioners on Uniform State Laws (NCCUSL) in 2000, the...
Continue reading "Practical Drafting Under The Uniform Trust Code"
Donald Kozusko Partner, Kozusko Harris Vetter Wareh LLP, Washington, D.C. Summary Trusts are most often valued as vehicles for tax planning, protecting against creditors, and managing assets for beneficiaries who are minors or incapacitated adults. While valid,...
Continue reading "Choices: "Why Do I Need A Trust? Setting the Stage for Decision-making""
Sarah M. Johnson Venable LLP, Washington, D.C. Introduction The appointment of guardians for minor children is one of the most important aspects of a parent's estate plan. If called to serve, the ideal guardian will oversee the...
Continue reading "Planning Considerations In Naming A Guardian For A Minor Child"
Donald Kozusko Partner, Kozusko Harris Vetter Wareh LLP, Washington, D.C. Summary The increase in the number and value of family trusts in the United States has been accompanied by an evolution, even revolution, in the ways in...
Continue reading " Choices: "Reciprocal Trust Doctrine Threatens Family Decision-making""
