Globalization continues to reshape the legal and financial landscape. Tax and estate planning practitioners face a growing demand for attorneys with more than a passing familiarity with cross-border tax planning. Families are no longer confined by national borders, with many individuals holding dual citizenship, owning property abroad, or maintaining multinational family ties. These global connections … Continued
Only a few states require licensure of non-corporate professional fiduciaries. California, which is one of those states, strictly regulates professional fiduciaries in order to help protect against potential neglect or the physical, emotional or financial abuse of vulnerable clients. This article will focus on the regulatory and licensing requirements for professional fiduciaries in California in … Continued
First and foremost, I would like to thank the members of the Trusts and Estates Law Section for the privilege of allowing me to serve as chair of the section for the year 2025. It is an absolute honor, and I look forward to our section having a great year. Thank you to outgoing chair … Continued
Case Overview In a 2024 decision, the Colorado Court of Appeals reinforced the protection of a beneficiary’s interest in a third-party trust during divorce proceedings. The case, In re Marriage of Smith,1 provides significant insights into how discretionary trusts are treated in marital dissolutions under Colorado law, and teaches important lessons relevant for estate planners across the … Continued
Despite proper estate planning, a testator’s testamentary scheme may be rendered ineffective if their last will and testament cannot be located after their death. The unfortunate, yet inevitable occurrence, of a lost or unintentionally destroyed will can cause uncertainty, delay, and additional expense to the estate, as often a hearing is required. This article explores … Continued
Examination of Fiduciary In In re Nicholson, the court was confronted with a motion to compel the co-executor of the estate to respond to four categories of questions that he had been directed not to answer during the course of his examination pursuant to SCPA 2211. The decedent died with a will survived by his wife and … Continued
Decisions of Interest, Recent Updates in Florida Law and Practice Tip for Non-Florida Lawyers An estate may be re-opened to rescind a wrongful death settlement to a decedent’s trust upon claims of fraud, despite a waiver of further distributions from the decedent’s trust. The Fourth District Court of Appeal reversed a trial court order denying … Continued
I would like to express our gratitude to Tricia Shevy for her outstanding work as outgoing chair and extend a very warm welcome to Angelo Grasso as the incoming chair. We are confident that 2025 will be a very productive year under his leadership! In our first issue of 2025, Diane Matero explores the statutory … Continued
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