The Wills Trust and Estate Professors Blog commented on discounts on Family Limited Partnerships and discounts in relation to an elective share. In In re Estate of Hjersted, 175 P.3d 810 (Kan. 2008), the court held that in valuing partnership interests owned by a deceased spouse for purposes of calculating…
As the second marriage becomes more popular, it becomes more important than ever to protect your life insurance for your children. I received a call today where the second wife had changed the life insurance benefits to her name, as might be expected. Five months later the father of two…
The Wall Street Journal online has an article on How to Ensure Relatives Don’t Rip You Off. Also the Toronto Estate Law Blog has an article today on POA abuse. The article mentions several things that can be done to safeguard clients. 1) a provision requiring regular accounting statements from…
Leanna Hamill of the Massachusetts Estate Planning and Elder Law Blog has recently posted two useful and informative articles (Part 1 and Part 2) about Estate Planning and Divorce which was summarized on the Georgia Wills and Probate Law Blog. In addition Paul Rabalais recently wrote a similar article on…
Last Sunday April 13, Dateline NBC had a story on tricks insurance agents use to sell insurance policies to our nations seniors. Insurance is a $14 trillion dollar business. They used hidden cameras. For those of you who missed it, here is a link to the transcript of the show.…
Tennessee has joined the growing list of states in which we have a relationship with a lawyer who is familiar with the (NFA) National Firearms Act’s requirements relating to the formation of trusts to purchase Title II Firearms (sold by Class 3 SOT dealers). These include silencers, short barrel rifles,…
In Florida, the Life tenant is generally responsible for the costs of repairs, but the remaindermen are responsible for the payments for improvements to the property. If the life tenant paid for the costs of improvements on a property, this would constitute an uncompensated transfer or gift which could result…
The Miami Herald reported that Florida lawmakers on Wednesday added language to a state budget companion bill (HB 5085) that would expand a Medicaid pilot program that shifts some beneficiaries to private managed care plans, such as health maintenance organizations, the Miami Herald reports. The bill seeks to expand the…
Florida Governor Charlie Crist today signed important National Rifle Association (NRA)-backed legislation into law that will protect the existing rights of law-abiding gun owners. House Bill 503 preserves the self-defense rights of law-abiding men and women as they travel in their cars to and from their daily activities. “Customers and…
Virginia has joined the growing list of states in which we have a relationship with a lawyer who is familiar with the (NFA) National Firearms Act’s requirements relating to the formation of trusts to purchase Title II Firearms (sold by Class 3 SOT dealers). These include silencers, short barrel rifles,…