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Trusts can provide many estate tax planning benefits, including wealth distribution, asset protection, and estate and gift tax reduction.

The Trustee succeeded to the Committee as plaintiff in the breach of fiduciary duty case.

The Corporate Transparency Act (CTA) is effective on January 1 and requires "Reporting Companies" to disclose specific information to the US Treasury Department's Financial...

In dismissing the trustee's non-contractual claims, the Supreme Court held that the indenture did not authorize the trustee to pursue such claims under its own volition.

In the most recent installment of the McGuireWoods Fiduciary Advisory Services, developments in the law concerning various topics are examined.

When high-net-worth families think about gifting, they often focus on asset-based strategies such as cash transfers, trust funding and charitable donations.

Although the divorce rate has decreased (according to the The New York Times, the divorce rate is no longer 50%), the issue of what constitutes marital property continues to plague courts in many jurisdictions.

Along with an increased life expectancy due to medical advances comes an increased chance of developing diminished mental capacity.

Families create an estate plan at a single moment in time, but it may need to work for decades, and sometimes for generations. Marriages begin and end, children grow into adults with their own strengths and challenges, tax laws change and court procedures slow down. The most effective plans anticipate that change rather than resist it.

Living probate allows a petitioner, typically the testator of a Will, to file an action to have the Will declared valid.

You may have an "AB Trust" or "ABC Trust," or a Family Trust that creates a Decedent's Trust (also referred to as a "Bypass Trust") and a Survivor's Trust on the death of the first of you or your spouse.

Hello to everyone reading Stites on Estates. I recently joined Stites & Harbison as an estate planning attorney practicing in both Tennessee and Georgia.

As a trust and estates attorney for professional athletes, I was shocked when news broke that fintech start-up Aspiration owed the LA Clippers small forward, Kawhi Leonard's personal LLC...

On March 19, 2024, the United States Court of Appeals for the Third Circuit delivered a precedential opinion with far-reaching implications in the case of the Consumer Financial Protection Bureau (CFPB) v. National Collegiate Master Student Loan Trust, et al.

Real estate investment trusts ("FIBRAs") are structured financing vehicles that—by means of the contribution (whether direct or indirect) of a certain real estate portfolio to the corresponding trust estate and their subsequent issuance and offering of real estate trust certificates.

On Tuesday, the Third Circuit, handed down a decision in a case involving the Consumer Financial Protection Bureau and the National Collegiate Master Student Loan Trust that finds that statutory trusts used to handle securitizations are considered "covered persons".

"Passive activity" is defined as any trade or business in which the taxpayer does not materially participate.