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New Reporting Regime: Estates Who Have to File Federal Estate Tax Returns Need to be Aware of New Basis Consistency Law 

Eileen Y. Lee Breger, of Bowditch & Dewey, has writing about the basis consistency rules.  Her article begins as follows:

On July 31, 2015, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 introduced new tax law that affects executors who are required to file a federal

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Adler Pollack & Sheehan: Dynasty Trusts, Pension Plan Payouts & Stretch IRAs

Adler Pollack & Sheehan have released their April/May 2017 update, which discusses the following items:

  • Protect multiple generations with a dynasty trust
  • What’s the best option for a pension plan payout?
  • The flexibility of stretch IRAs: Learn how your IRA can bene t your spouse and other beneficiaries

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How To Keep Your Law Firm Healthy While Growing Your Practice

Lynn Luong, on Above the Law, writes about how to keep your law firm health while growing your practice.  Her article begins as follows:

Growing your law firm from a solo-practice to a law firm that’s staffed with other attorneys can present a myriad of challenges.  Even if you’re already

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Estates in Land and Future Interests: A Step-by-Step Guide, Fifth Edition

Linda H. Edwards’ new book, Estates in Land and Future Interests: A Step-by-Step Guide (5th ed) has been published by Wolters Kluwer.  The description is as follows:

Accessible and effective, Estates in Land and Future Interests: A Step-by-Step Guide is a user-friendly method for mastering a challenging area of property

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Trump Tax Policy Proposals – April 2017 Update

Paul Caron, author of the Tax Prof Blog, has provided a useful summary of several current articles discussing tax policy proposals in the Trump Administration.  See list by clicking: here.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.

Double whammy: Federal estate tax repeal could substantially increase tax for California residents

Eric Bardwell writes that proposed legislation in California may result in an federal estate tax repeal resulting in a double whammy for California residents.  His article begins as follows:

With all of the talk about potential repeal of the federal estate tax1, many people have decided to postpone further estate

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A Guide for Challenging a Joint Account Arrangement in Michigan

Thomas Fabbri, of Clark Hill, writes about how to challenge a joint account arrangement in Michigan.  His article begins as follows:

Joint bank account arrangements are as useful as they are common, providing a simple means for transferring an individual’s assets to others – either during his/her life or post

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Boilerplate and Default Rules in Wills Law: An Empirical Analysis by David Horton, Reid K. Weisbord

David Horton & Reid K. Wesbord have made available for download their forthcoming article, “Boilerplate and Default Rules in Wills Law: An Empirical Analysis,” to be published in the Iowa Law Review, Vol. 102 (2017).  The Abstract is as follows:

The prime directive of wills law is to honor a testator’s

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Fiduciary Law’s Mixed Messages by Evan J. Criddle

Evan J. Criddle, of William & Mary Law School has made available for download his article, Fiduciary Law’s Mixed Messages, to be included with the Research Handbook on Fiduciary Law.   The Abstract is as follows:

Nearly a century ago, Judge Benjamin Cardozo famously declared that fiduciaries bear a “duty

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Inherited IRAs: What Every Practitioner Must Know, 2017 Edition

Seymour Goldberg’s book, Inherited IRAs: What Every Practitioner Must Know, 2017 Edition, has been published by the ABA. This book instructs and informs lawyers representing estates on how best to handle the laws and compliance issues surrounding their clients’ investments.

See description and order at: Inherited IRAs: What Every Practitioner Continue reading

UPDATE: Can an Intended (and Disappointed) Beneficiary Still Sue a Will’s Drafter?: The General Assembly of Virginia Enacts a Statutory Fix to the Thorsen Decision 

Brett Herbert, of LeClair Ryan provides an update about a beneficiary’s ability to successfully sue estate lawyers in Virginia for drafting errors.  His article begins as follows:

Back in the summer I wrote a post discussing the impacts of the Thorsen decision by the Supreme Court of Virginia.  In Thorsen,

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A.I. Is Doing Legal Work. But It Won’t Replace Lawyers, Yet. 

Steve Lohr at the NY Times writes that AI is coming to the legal profession but that it will be awhile before robots replace all lawyers.  His article begins as follows:

Impressive advances in artificial intelligence technology tailored for legal work have led some lawyers to worry that their profession

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Forbes Posts 2017 Version of The World’s Billionaires List

Forbes has posted its 2017 list of the Worlds Billionaires.  The list reflects a record 233 moving into the billionaire bracket, taking the global number of people with nine-zero fortunes to 2,043 – the most in the 31-year history of the list.

See full list at: The World’s Billionaires ListContinue reading

Electronic Wills Coming in Florida?

The Lawyerist reports that legislation is moving forward in Florida that would allow for electronic wills.  Their articles begins as follows:

Wills and trusts has traditionally been an arcane practice area, known for things like attorneys using legal-size paper and terms like bequest, devise, and residue. But no more –

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Old Money, New Bottle: Decant If You Don’t Like The Terms Of An Old Trust

Forbes writes about decanting trusts in its article, “Old Money, New Bottle: Decant If You Don’t Like The Terms Of An Old Trust.” The article begins as follows:

It used to be an irrevocable trust was really irrevocable. Now 25 states allow you to change the terms of an old

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