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On July 12, 2019, Connecticut Governor Ned Lamont signed into law sweeping changes to the state's trust laws, which will take effect January 1, 2020.

For New Jersey business owners who have built closely held companies through decades of work and investment, succession planning through trusts offers a strategic path to protect value and ensure smooth transitions. This approach addresses critical concerns around management continuity, tax exposure, and family dynamics while preserving the long-term viability of the business across generations.

The implementation of the Corporate Transparency Act (CTA) and the New York LLC Transparency Act (NYLTA) introduces new reporting obligations that have significant implications for trusts and estates...

In this episode of "The Trial Lawyer's Handbook" podcast series, litigation attorney Dan Small shares how building genuine trust with a witness can make or break a case...

On October 31, 2018, the US Internal Revenue Service ("IRS") released proposed regulations ("Proposed Regulations") that, if finalized, may substantially impact the way in which multinational corporations finance their operations.

Significant Changes In Corporate Law.

An Asset Protection Trust is a legal arrangement where you transfer ownership of certain assets (money, property, investments, etc.) into a trust. Once inside the trust, those assets are generally harder for credit...

In New Jersey, irrevocable trusts can sometimes be modified through a process called decanting, which allows trustees to transfer assets into a new trust with different terms. Understanding when decanting is available under common law, what discretion trustees must have, and what tax and fiduciary risks are involved is essential for anyone administering or benefiting from an irrevocable trust in the state.

Important federal interest rates continue to rise.

When creating a trust, determining who you want to serve as trustee(s) and benefit from the trust as beneficiaries are decisions that need to be made for every trust.

In the recent case of Rost v. United States, the Fifth Circuit analyzed whether a foreign entity should be classified as a foreign trust subject to IRS Form 3520 penalties.

As we all learn to cope with the unprecedented changes to our daily lives imposed by the COVID-19 crisis, we want to assure you that the Sheppard Mullin estate planning team ...

On September 30, 2022, the US Department of the Treasury's Financial Crimes Enforcement Network (FinCEN), published final rules to implement the Corporate Transparency Act (CTA)...

The spring season brought with it decisions from around the state that were of interest to Surrogate's Court practice. Addressed to such issues as stipulations...

The Second Circuit has affirmed that Section 546(e) of the Bankruptcy Code barred Irving Picard from asserting all but a limited category of avoidance and recovery claims.

The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for March 2022. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.

Estate planning requires choosing between two fundamental approaches: the traditional will and the revocable trust. While both direct asset distribution after death, they differ significantly in cost, privacy, probate requirements, and incapacity protection—differences that can profoundly impact your family's experience during an already difficult time.