When Warren M. Yanoff agreed to review the fees a bank charged to administer an Ashburnham, Mass., woman’s $5.5 million estate, he assumed it was a run-of-the-mill guardian ad litem appointment, much like others he has accepted over the years.
He could not have been more wrong.
The administrator of a client’s estate could not maintain a legal malpractice action for alleged negligent estate planning that resulted in increased tax liability, the Kansas Supreme Court has ruled in affirming judgment.
In the aftermath of the fiscal cliff deal, trusts now face much higher taxes on income.
The new law that averted the “fiscal cliff” contains major changes for estate and gift tax rules that will affect not only the advice lawyers give to their clients, but the future landscape of estate planning law for years to come.
So much of an individual’s life now appears online, including bills, Facebook accounts and photo-sharing websites. But what happens to those assets when a person dies?
The beneficiaries of a revocable trust had standing to sue the trustee for breach of fiduciary duty allegedly committed while the settlor was alive, the California Supreme Court has ruled in reversing judgment.
WASHINGTON – As the budgetary wrangling between the White House and Congress continues, the only thing that is clear is that an agreement on long-term estate tax reform is unlikely. That means federal estate tax rate hikes and the loss of certain planning tools are looming for January.
A lawyer didn’t violate a condition of his malpractice insurance coverage by admitting that he had made a mistake in drafting a will, the Illinois Appellate Court has ruled in affirming judgment.
A non-assignable annuity contract that provided income to the spouse of a nursing home patient did not count as an excess resource that needed to be spent down for the patient’s Medicaid eligibility, the 2nd Circuit has ruled in affirming judgment.
The 2nd Circuit should strike down the Defense of Marriage Act as an unconstitutional violation of the equal protection rights of same-sex couples, a trio of state Attorneys General argues in a new brief.