Proof of malicious intent is not required to prevent the bankruptcy discharge of a debt that arose from a trustee’s self-dealing.
In the aftermath of the fiscal cliff deal, trusts now face much higher taxes on income.
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.
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.
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.
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.
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.
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.