BANKRUPTCY 
Published: May 13, 2013
Tags: bankruptcy discharge, breach of fiduciary duty, defalcation, trusts and estates
Proof of malicious intent is not required to prevent the bankruptcy discharge of a debt that arose from a trustee’s self-dealing.
See “Court clarifies bankruptcy discharge standard for fiduciaries”
U.S. Supreme Court. Bullock v. BankChampaign, No. 11-1518. May
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Court clarifies bankruptcy discharge standard
Published: May 13, 2013
Tags: bankruptcy discharge, breach of fiduciary duty, defalcation, trusts and estates
The U.S. Supreme Court has clarified that proof of malicious intent is not required to prevent the bankruptcy discharge of a debt that arose from a trustee’s self-dealing.
Higher tax rates on trust income mean more work for lawyers
By:
Sylvia Hsieh
Published: February 28, 2013
Tags: estate planning, fiscal cliff, taxation, trust income, trusts and estates
In the aftermath of the fiscal cliff deal, trusts now face much higher taxes on income.
Federal court could hear dispute over inter vivos trust
Published: January 14, 2013
Tags: inter vivos trust, probate, subject matter jurisdiction, trusts and estates
The probate exception to federal subject-matter jurisdiction did not bar a federal court from hearing a breach-of-fiduciary-duty suit against the trustees of an inter vivos trust, the 5th Circuit has ruled in reversing a dismissal.
New landscape for estate planning attorneys
By:
Sylvia Hsieh
Published: January 10, 2013
Tags: estate planning, estate tax, estate tax exemption, fiscal cliff, gift tax, taxation, trusts and estates
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.
Trust beneficiaries have standing to sue trustee
Published: December 26, 2012
Tags: breach of fiduciary duty, estate planning, revocable trust, trusts and estates
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.
Annuity didn’t render patient ineligible for Medicaid
Published: October 4, 2012
Tags: annuity, estate planning, Medicaid planning, trusts and estates
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 tax implications of the health care law
By:
Correy Stephenson
Published: July 19, 2012
Tags: estate planning, health care reform, IRA, retirement planning, Roth IRA, surcharge tax, taxation, trusts and estates
When the U.S. Supreme Court ruled on the health care law late last month, the decision upholding the individual health insurance mandate made headlines.
But lost in the details and unknown to many was the 3.8 percent surcharge tax on net investment income set to take effect Jan. 1, 2013.
Creditors can’t touch life insurance proceeds
Published: February 16, 2012
Tags: estate planning, trusts and estates
State law protects the proceeds from a life insurance policy that were paid into a trust created by an insured from the insured’s creditors, the Arizona Court of Appeals has ruled in reversing judgment.
New laws offer greater asset protection for clients
By:
Correy Stephenson
Published: December 23, 2011
Tags: asset protection planning, estate planning, self-settled trusts, trusts and estates
Two new laws that recently took effect in Nevada offer clients across the country new avenues for asset protection.
