About Trusts & Estates Lawyers

About Trusts & Estates Practice

Asset Protection

  • Asset Protection Trust
    • Nevada Asset Protection Trust (NAPT)
      • The Northern Trust Company of Nevada
  • Voidable Transfers

Assets

  • Art
  • Bank Account
  • Brokerage Account
  • Co-op
  • Cryptocurrency
  • Intellectual Property (Contract Covering a Literary Work or Musical Composition, Patent Rights, Royalties)
  • Jewelry
  • Life Insurance
  • Mortgage, First Trust Deed, Real Estate Sales Contract
  • Motor Vehicle or Trailer
  • Partnership Interest
  • Personal Effects
  • Real Estate (Home, Vacation Property, Investment Property)
  • Retirement Assets
  • Safe Deposit Box
  • Securities (stocks and bonds)

Biden’s Tax Proposals

  • Private placement life insurance trusts can be used to lessen the burden of Biden’s proposed increases to the federal and state income and capital gains taxes. See Al W. King III, Zero Tax Trusts, Trusts & Estates Magazine, Sept. 2021.

Burial (Cemetery) Plot

Businesses

  • Business Agreements
  • Business Exit Planning
  • Business Succession Planning
  • Entity Selection
  • Selling a Business
    • Business and Tax Considerations Before Selling
    • Non-Disclosure Agreements When Selling a Business

Charitable Planning

  • Donor Advised Fund
    • A donor advised fund can be commercially sponsored. See Christopher P. Woehrle, Donor-Advised Funds 2, Litigants 0, Trusts & Estates Magazine, Sept. 2021 (“examines a recent unsuccessful challenge to a commercially sponsored donor-advised fund.”).

Class Gifts

Construction Proceeding 🔐

Disinheriting Someone

Dispositive Provisions

  • per stirpes
  • per capita
  • by representation at each generation
  • in equal shares per stirpes

Domestic Relations

  • Divorce / Will
  • Postnuptial Agreements (Postnups)
    • See Michael A. Mosberg & Mark A. Bank, Legality of the Postnuptial Agreement, Trusts & Estates Magazine, Sept. 2021 (“Cases related to postnups often center on: (1) consideration, and (2) fiduciary duties related to disclosure. Here’s a roundup of cases reflecting how courts have ruled on these issues.”).

Elder Law

  • Paying for Long-Term Care
    • Medicaid Eligibility
    • Medicaid Applications
    • Spousal Refusal
    • Medicaid Asset Protection Trust (MAPT)
  • Supplemental Needs Trust (SNT)
  • Issues with Retirement Accounts
  • Ethics
  • Suing a Nursing Home for Neglect

Estate Administration Issues

Estates in Land Classification 🔐

Estate Planning

  • Estate Planning Definition
  • Estate Planning for Agriculture
  • Estate Planning for Physicians
  • Foundational Estate Planning
  • Get your paperwork together and your affairs in order to reduce the burden on your loved ones after you’re gone.
  • High Net Worth Estate Planning
  • Reasons for a Will
  • Will v. Revocable Trust

Family Tree 🔐

Federal Court Practice 🔐

Federal Estate Tax

  • When an estate files a return late, penalties will be assessed. The estate can then seek a refund. See Leighton v. United States, which is discussed in David A. Handler, Tax Law Update, Trusts & Estates Magazine, Sept. 2021.

Federal Gift Tax

  • How to prepare a gift tax return (Form 709)
  • Is a transaction a gift or a contract? See Pratte v. Bradwell, which is discussed in David A. Handler, Tax Law Update, Trusts & Estates Magazine, Sept. 2021.

Fiduciaries: Removal & Suspension 🔐

Funeral Service

Guardian ad Litem 🔐

Insurance Policies

  • A credit card can offer an accident policy.

Intestacy Law in NY 🔐

Life Insurance Planning 🔐

  • Private placement life insurance trusts can be used to lessen the burden of Biden’s proposed increases to the federal and state income and capital gains taxes. See Al W. King III, Zero Tax Trusts, Trusts & Estates Magazine, Sept. 2021.
  • Secondary market for life insurance
    • Purpose: to tap into the market value of policies that are underperforming or are simply no longer needed
    • Tools:
      • life settlements
      • life settlement with a death benefit option

Medicaid Planning 🔐

  • Medicaid Asset Protection Trust (MAPT)

Password List

Planning for . . .

  • Children
    • 2503(c) Trust
      • See Kristen A. Curatolo & David A. Handler, Help—My Child is About to Receive a Windfall!, Trusts & Estates Magazine, Sept. 2021 (“Internal Revenue Code Section 2503(c) provides an option for annual exclusion gifts made for minor children by creating an ‘irrevocable minor’s trust.’ In such a trust, there’s no annual withdrawal right; instead, gifts for the minor child qualify for the gift tax annual exclusion if the child has the right to withdraw all of the trust assets at age 21. But those trusts, and similar custodial accounts, can balloon to astronom- ical values. Read about solutions for oversized trusts and custodial accounts for minor beneficiaries.”).
  • Couples who Are Married
  • Couples who Are Same Sex
  • Couples who Are Unmarried
  • Getting Older
  • Incapacity
  • Long Term Care
  • Muslim Clients
    • See Yaser Ali & Martin M. Shenkman, Sharia Inheritance Estate Plans, Trusts & Estates Mag., Sept. 2021.
  • Single Individuals
  • Single Mothers
  • Your Death

Power of Attorney

Precautionary Addendum 🔐

Retirement Assets

  • Estate planners should know retirement asset rules because most middle class people will have some type of retirement asset and planning for these assets is important.
  • Traditional IRA
  • Roth IRA
  • 401(k)

Rule Against Perpetuities

Trusts

  • Formation
  • Amending or revoking an irrevocable trust (EPTL 7-1.9, enacted in 1966, based on earlier statutes)
  • Decanting (EPTL 10-6.6(b) et seq., enacted in 1992)
  • Nonjudicial Settlement Agreement (NJSA)
    • A way for a trust’s beneficiaries and trustees to resolve trust matters.
    • Allowed in a majority of states.
    • An NJSA must not violate a material purpose of the trust.
    • See Matthew P. D’Emilio & Tara S. Hersh, Don’t Overlook a Trust’s Material Purpose, Trusts & Estates Magazine, Sept. 2021.
  • Splitting of trusts (EPTL 7-1.13, first enacted in 1995)
  • Uniform Trust Code
  • See Alexander A. Bove, Jr., A Small Step for an Impatient Beneficiary, Trusts & Estates Mag., Sept. 2021 (“The author strongly criticizes allowing beneficiaries to move to terminate a trust for no reason other than a desire to possess the trust assets sooner rather than later. In his opinion, the Uniform Law Commission has clearly disregarded the rule that a settlor’s intentions are paramount and should be honored.”).

Wills

  • Drafting
    • Do you write co-executor?
    • Simultaneous deaths
    • What should every will include?
    • How to avoid common mistakes in will drafting
  • Execution
  • Contract to Make a Will
    • Use
    • Enforceability
    • Revocation
    • See Conrad Teitell, Heather J. Rhoades & Brianna L. Marquis, Contracts to Make a Will, Trusts & Estates Magazine, Sept. 2021 (“Can a donor make an irrevocable charitable bequest by a contract to make a will? Here’s an overview of estate plans involving contracts to make a will, including a discussion of enforceability and use; revocation; cohabitation agreements; naming rights; and oral contracts.”).
  • Probate
    • Uniform Probate Code
    • Probate Avoidance
    • Accounting by Executor
    • Objection to Executor’s Accounting

[Updated 9/14/2021]