Estate planning, gift tax rules, and everything that happens when wealth passes from one generation (or person) to the next.
Despite his prior assurances to bring the estate tax repeal to a vote before the end of last summer, Senate Majority Leader Bill Frist announced in remarks for the Conservative Political Action Conference that he would both bring a proposal to reduce or repeal the federal estate tax to a vote in May, and schedule…
The Lillian Glasser case, as previously blogged about, raises some interesting issues not only about jurisdiction and fiduciary responsibility but a more personal question as to whether a child has the right to visit and provide input about the care of a parent. Ms. Glasser’s case is not unusual. It has attracted media attention, no…
In addition to the highly publicized case of Anna Nicole Smith, the former Playboy Playmate, who is battling for her late husband’s fortunes at the US Supreme Court, previously blogged about here, Texas probate courts are in the spotlight once again. This time, the case revolves around Lillian Glasser, a New Jersey socialite, and her fortune….
Apparently doesn’t stay in Texas, but clearly has Texan ties… In what can only be described as an interesting pairing, the Bush administration is backing Anna Nicole Smith, the former Playboy playmate, in her fight over her late husband’s assets. Earlier this year, the Supreme Court granted cert to Anna Nicole (admit it, you can’t…
So, if you’re the kind of person (yeah, I am) that likes to read about the wills and trusts of famous people, you can check out the details of Peter Jennings’ Will here.
I often get asked about holographic wills. Holographic wills are wills that you write yourself – and they are legal in Pennsylvania (with some caveats). One of the more amusing holographic wills that I have seen lately comes to me courtesy of the Wills, Trusts, and Estates Prof Blog. It’s a helpful read since I…
TaxProf Blog reported that Lee Sheppard had penned an article (note that this is a pdf) critiquing the business purpose logic of FLPs in light of Strangi, which I blogged about previously. I read the article, it’s highly entertaining and well worth a peek. Check it out!
There is an interesting OpEd piece (free registration required) in today’s New York Times which critiques Senator Kyl’s plan for tweaking the federal estate tax. The basic gist of the piece is that the modified plan is overly generous and would be worse than passing a complete repeal of the tax. Hmm.
Talk about a walking advertisement for trust law… A German man won almost $1 million in the lottery and promptly spent most of it. Embarrassed, he turned to burglary rather than confess to the welfare office that he had no winnings left. He has now admitted to at least 60 offenses. Totally unbelievable? Not really. I had…
Senator Majority Leader Bill Frist put off the vote on making permanent the federal estate tax repeal until after the summer break. You may recall that I previously reported that the Senate did not have the necessary votes for the bill but had vowed to call a vote nonetheless prior to the break, perhaps symbolically. Well,…