In Connelly v. U.S., 602 U.S. ___ (June 6, 2024), the United States Supreme Court affirmed a decision of the Eighth Circuit Court of Appeals in favor of the government concerning the estate tax treatment of life insurance proceeds that are used to fund a corporate redemption obligation under a buy-sell agreement. The specific question presented … Continued

Continuing the series on subject matter jurisdiction, this article addresses the evolution of the Surrogate’s Court jurisdiction over testamentary and lifetime trusts. Enticing and powerful alternatives to traditional estate administration, testamentary trusts retained a long history of jurisprudence in Surrogate’s Court. Lifetime trusts, however, are a relatively newer addition to the Surrogate’s Court lineup, and … Continued

New York State Courts and our judicial system in general can be complex and difficult to navigate for unrepresented individuals and even practitioners at times. Several recent initiatives have made attempts to ease some of these burdens in the Surrogate’s Court including service requirements, the use of affirmations and through Surrogate’s Court help desks. Service of … Continued

The time between the spring and fall section meetings is not usually all that exciting. Not this year! Our section has been busy lobbying and presenting our recommendations to lawmakers up to the last minute of this past legislative session. Special thanks to Cheryl L. Katz and the Legislation Committee; Nicholas Moneta and Joseph LaFerlita … Continued

To: Patricia Shevy/NYSBA TELS Executive Committee From: Lisa M. Powers, Co-Chair, Older Adults and Individuals with Disabilities Committee Re: Opposition to Assembly Bill A9230A Multiple-Person Accounts We were asked to review a proposed amendment to Banking Law section 678 that would change existing “convenience account” law and incorporate Uniform Probate Code treatment of multiple owner … Continued

To: Executive Committee of the Trusts and Estates Law Section of the New York State Bar Association (the EC) From: Estate Planning Committee of the Trusts and Estate Law Section: Joseph T. La Ferlita Nicholas G. Moneta Date: March 11, 2024 Re: Opinion on Certain Provisions Related to Transfer-on-Death Deeds in Part O of S8306 … Continued

The practice of Trusts and Estates law is continually being transformed by technology, and the conveniences it can bring to the practice of law and to clients. For example, the use of technology was invaluable during the COVID-19 pandemic when the public was isolated from each other, and Executive Orders authorized remote notarization of documents … Continued

Decisions of Interest, Recent Updates in Florida Law and Practice Tip for Non-Florida Lawyers A Florida LLC does not immediately dissolve on its sole member’s death and become an estate asset Decedent was the sole member of a single-member LLC. The LLC owed an outstanding balance on a note and mortgage to Richard B. Carmel … Continued

Accounting Objections Before the court in In re Clifford was a motion, pursuant to CPLR 3211(a)(7), by the petitioner-trustee of a testamentary trust to dismiss the objections filed to his accounting by the trust beneficiary on the grounds that they were not sufficiently detailed as required by the provisions of SCPA 302. The court observed that in … Continued

Over the last three decades, the use of a Special Needs Trust (SNT), also known as a Supplemental Needs Trust, has become the primary planning vehicle for persons with disabilities. If the trust is a First Party SNT (one funded with assets belonging to or to be received by the disabled person), it will require … Continued