What Do You Mean I Cannot Take that Money? Duties, Responsibilities, and Ethics for Fiduciaries and the Attorneys Who Advise Them

By Lisa C. Henry & Francis J. Rondoni Chestnut Cambronne PA Minneapolis, Minnesota1 2 With the recent trend to sue anyone and everyone, practitioners should be aware of potential liability for their client’s acts.  Along with claims for malpractice, courts are coming around to considering a legal practitioner being liable for his or her role in … Continue reading What Do You Mean I Cannot Take that Money? Duties, Responsibilities, and Ethics for Fiduciaries and the Attorneys Who Advise Them

Why Can’t My Brother-In-Law Bob Be the Executor of My Estate?

CONSIDERATIONS INVOLVING FIDUCIARY SELECTION By Stuart C. Bear Chestnut Cambronne Minneapolis, Minnesota 1 2 Fiduciary selection is crucial to the success of an estate and disability plan.  Even a great plan can go awry if a fiduciary fails to uphold his or her fiduciary duties or fails to follow the terms of the Will or Trust.  Add family … Continue reading Why Can’t My Brother-In-Law Bob Be the Executor of My Estate?

Art Crimes and Misdemeanors: Managing Risk in Estate Administration and in Appraisals of Stigmatized Art

By Sarah Moore Johnson, Esq. & Cindy Charleston-Rosenberg, ISA CAPP Misattributed and other forms of stigmatized artwork lurking in important estate collections is far more pervasive than generally appreciated by fiduciaries. If overlooked during the appraisal process, misattributed and unattributed works may result in significant wealth loss through overpayment of tax liability or depressed sale … Continue reading Art Crimes and Misdemeanors: Managing Risk in Estate Administration and in Appraisals of Stigmatized Art

The Practice of Law or Not the Practice of Law, That is the Question

By Virginia H. Grigg This material was originally prepared for and presented at the Connor-Zaritsky 40thAnnual Advanced Estate Planning and Administration Seminar sponsored by Virginia CLE. As attorneys, we do not have to worry about engaging in the unauthorized practice of law (UPL) because we are licensed to practice law in our given jurisdictions.  However, we have … Continue reading The Practice of Law or Not the Practice of Law, That is the Question

The Virtual Family Office and Personal Financial Planning

By Susan M. Tillery Many consumers, as well as professional advisers, continue to think of personal financial planning as a tool to gather assets under management (AUM) or to sell products; however, CPA personal financial planners have developed a fee-for service model which offers integrated personal financial planning without AUM or product sales.  This model embodies … Continue reading The Virtual Family Office and Personal Financial Planning

Steve Akers: ACTEC 2019 Summer Meeting Musings (Including “Income Tax Planning Strategies for the Advisor’s Toolkit”)

Steve R. Akers, Senior Fiduciary Counsel, Bessemer Trust, has made available for download his comments on the ACTEC 2019 Summer Meeting. The summary is as follows: The 2019 ACTEC Summer Meeting was held in Vancouver, British Columbia, on June 26-29, 2019. A summary of observations from the seminars at the meeting is available on the … Continue reading Steve Akers: ACTEC 2019 Summer Meeting Musings (Including “Income Tax Planning Strategies for the Advisor’s Toolkit”)

The More Things Change, the More They Stay the Same? Foreign Investment in U.S. Real Estate after the Tax Cuts and Jobs Act

By Jonathan E. Gopman, Esq. and Paul J. D'Alessandro, Jr., Esq. On December 22, 2017, President Trump signed into law what is commonly referred to as the Tax Cuts and Jobs Act (the "Act").1 The Act represents the most comprehensive reform to U.S. tax law since 1986. In particular, the Act changed many long-standing U.S. international tax … Continue reading The More Things Change, the More They Stay the Same? Foreign Investment in U.S. Real Estate after the Tax Cuts and Jobs Act