Adam J. Hirsch: Models of Electronic-Will Legislation (June 20, 2021)

Adam J. Hirsch, of the University of San Diego, has made available for download his article, Models of Electronic-Will Legislation, published in the Real Property, Trust and Estate Law Journal. The abstract is as follows: This Article examines alternative ways lawmakers could structure legislation validating electronic wills. The Article identifies four essential models, each of … Continue reading Adam J. Hirsch: Models of Electronic-Will Legislation (June 20, 2021)

Richard Kiely (Holland & Hart): Why Trust Situs is Important (July 13, 2021)

Richard Kiely, of Holland & Hart, has made available for download his article, "Why Trust Situs is Important," published in JDSUPRA. The abstract is as follows: When does a trust’s situs, also known as principal place of administration, move?  What is enough to trigger a move?  Should a trustee be concerned about their trust’s situs?  … Continue reading Richard Kiely (Holland & Hart): Why Trust Situs is Important (July 13, 2021)

Forbes: Repatriation To U.S. Of $18 Million Of Debtor’s Money In Swiss Bank Accounts In Schwarzbaum (July 12, 2021)

Forbes has published an article, "Repatriation To U.S. Of $18 Million Of Debtor’s Money In Swiss Bank Accounts In Schwarzbaum", which discusses the outcomes of U.S. v. Schwarzbaum. The article begins as follows: In U.S. v. Schwarzbaum, a U.S. Magistrate Judge for the Southern District of Florida considered and granted a motion by the United States … Continue reading Forbes: Repatriation To U.S. Of $18 Million Of Debtor’s Money In Swiss Bank Accounts In Schwarzbaum (July 12, 2021)

Jeff Bilsky, Neal Weber, and Michael Masciangelo: IRS Issues Draft Instructions, Provides Penalty Relief for New Schedules K-2 and K-3 (July 2021)

Jeff Bilsky, Neal Weber, and Michael Masciangelo, tax experts for the National Partnership Taxation Technical Practice Leader, Core Tax Services, and International Tax Services, respectively, have made available for download their article “IRS Issues Draft Instructions, Provides Penalty Relief for New Schedules K-2 and K-3”, published on BDO USA. The abstract is as follows: On … Continue reading Jeff Bilsky, Neal Weber, and Michael Masciangelo: IRS Issues Draft Instructions, Provides Penalty Relief for New Schedules K-2 and K-3 (July 2021)

Bloomberg Wealth: Rich People’s Favorite Tax Dodges Are Under Attack (July 1, 2021)

Bloomberg Wealth outlines how the Biden Administration's proposed tax legislation will likely target two of the most common strategies employed by the wealthy to avoid paying taxes. The article begins as follows: Most people start thinking about their taxes several months (or, um, days) before they’re due. Maybe there’s a year or two when you have … Continue reading Bloomberg Wealth: Rich People’s Favorite Tax Dodges Are Under Attack (July 1, 2021)

Derrick Smith (Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C.): 2021 Arkansas Insurance Legislation Summary: Act 925 Prohibits Life Insurance/Annuity Beneficiary Change through Will (June 29, 2021)

Derrick Smith, of Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C., hasmade available for download his article, "2021 Arkansas Insurance Legislation Summary: Act 925 Prohibits Life Insurance/Annuity Beneficiary Change through Will," published in JDSUPRA. The abstract is as follows: In a surprising move, the Arkansas General Assembly overrode long-standing Arkansas common law that permits an insured … Continue reading Derrick Smith (Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C.): 2021 Arkansas Insurance Legislation Summary: Act 925 Prohibits Life Insurance/Annuity Beneficiary Change through Will (June 29, 2021)

Texas Fiduciary Litigator: Court Holds That An Executor May Breach Duties In Making A Non-Pro Rata Distribution Of Assets (June 29, 2021)

David Fowler Johnson, in his Texas Fiduciary Litigator Blog, discusses In re Estate of Stewart. The article beings as follows: In In re Estate of Stewart, siblings filed claims regarding the administration of their father’s estate. No. 04-20-00103-CV, 2021 Tex. App. LEXIS 3897 (Tex. App.—San Antonio May 19, 2021, no pet. history). Among other claims, a … Continue reading Texas Fiduciary Litigator: Court Holds That An Executor May Breach Duties In Making A Non-Pro Rata Distribution Of Assets (June 29, 2021)

Texas Fiduciary Litigator: Wife’s Fraudulent Transfer Claim Against Husband For Transferring Business Interests To Trust Failed Due To The Statute Of Repose (June 29, 2021)

David Fowler Johnson, in his Texas Fiduciary Litigator Blog, discusses Austin v. Mitchell. Section 24.010 provides that a cause of action with respect to a fraudulent transfer “is extinguished” unless action is brought: (1) under Section 24.005(a)(1) of this code, within four years after the transfer was made or the obligation was incurred or, if later, … Continue reading Texas Fiduciary Litigator: Wife’s Fraudulent Transfer Claim Against Husband For Transferring Business Interests To Trust Failed Due To The Statute Of Repose (June 29, 2021)

Audrey Patten: Significant Changes in New Draft Form 8857 (June 24, 2021)

Audrey Patten, a member of the tax clinic at the Legal Services Center of Harvard Law School, has made available for download her article “Significant Changes in New Draft Form 8857”, published on the Procedurally Taxing blog. The abstract is as follows: Submitting Internal Revenue Form 8857 to the IRS is the starting point for … Continue reading Audrey Patten: Significant Changes in New Draft Form 8857 (June 24, 2021)

Marvin A. Kirsner (Greenberg Traurig LLP): IRS Says No Tax-Free Exchange Treatment for Swaps of Bitcoin, Ether, and Litecoin (June 22, 2021)

Marvin A. Kirsner, of Greenberg Traurig LLP, has made available for download his article, "IRS Says No Tax-Free Exchange Treatment for Swaps of Bitcoin, Ether, and Litecoin", published in Greenberg Traurig Tax. The article begins as follows: The IRS has published guidance stating that pre-2018 swaps among Bitcoin, Ether, and Litecoin are not eligible for … Continue reading Marvin A. Kirsner (Greenberg Traurig LLP): IRS Says No Tax-Free Exchange Treatment for Swaps of Bitcoin, Ether, and Litecoin (June 22, 2021)

James Creech: Getting Perspective on DAWSON (June 21, 2021)

James Creech, a federal tax attorney, has made available for download his article "Getting Perspective on DAWSON", published on the Procedurally Taxing blog. The abstract is as follows: Much has been written about the Tax Court’s new case management system from the practitioner’s point of view. While most of the articles focus on the shortfalls … Continue reading James Creech: Getting Perspective on DAWSON (June 21, 2021)

Texas Fiduciary Litigator: Business Divorce: Exiting Member of LLC May Still Owe Fiduciary Duties (June 16, 2021)

David Fowler Johnson, in his Texas Fiduciary Litigator Blog, discusses Villareal v. Saenz. In Villareal v. Saenz, two co-owners of a limited liability company sued each other regarding conduct surrounding a business divorce. 5-20-CV-00571-OLG-RBF, 2021 U.S. Dist. LEXIS 94183 (W.D. Tex. May 18, 2021). After the parties asserted allegations against each other, they entered into a … Continue reading Texas Fiduciary Litigator: Business Divorce: Exiting Member of LLC May Still Owe Fiduciary Duties (June 16, 2021)

Probate Stars: Wyoming Supreme Court – Beneficiaries Cannot Intervene In Wrongful Death Action (June 14, 2021)

Probate Stars summarizes the facts of Archer v. Mills and how the Wyoming Supreme Court addressed whether heirs of a decedent can intervene in a wrongful death action brought by the wrongful death representative. The article further explains why a beneficiary in Wyoming can’t intervene in a wrongful death action because of how Wyoming law … Continue reading Probate Stars: Wyoming Supreme Court – Beneficiaries Cannot Intervene In Wrongful Death Action (June 14, 2021)

Texas Fiduciary Litigator: Court Upheld A Release In A Family Settlement Agreement That Protected A Former Trustee’s Estate From Claims (June 16, 2021)

David Fowler Johnson, in his Texas Fiduciary Litigator Blog, discusses Austin Trust Co. v. Houren. In the FSA, the parties agreed that the releases contained therein generally applied to “any and all liability arising from any and all Claims,” as defined in the FSA, against the other parties or relating to “Covered Activities,” as defined … Continue reading Texas Fiduciary Litigator: Court Upheld A Release In A Family Settlement Agreement That Protected A Former Trustee’s Estate From Claims (June 16, 2021)

James Edward Maule, MauledAgain (June 14, 2021): Words Matter: The Tax Treatment of Legal Malpractice Awards

James Edward Maule’s MauledAgain tax blog entry discusses Holliday v Comr.,T.C. case. His article, “The Tax Treatment of Legal Malpractice Awards” includes the following commentary: A recent Tax Court case, Holliday v. Comr., T.C. Memo 2021-69, addressed the tax treatment of a legal malpractice award. In March 2010, the taxpayer’s then husband filed for divorce. The … Continue reading James Edward Maule, MauledAgain (June 14, 2021): Words Matter: The Tax Treatment of Legal Malpractice Awards

David Fowler Johnson (Winstead PC): Court Reversed Temporary Injunction Against Co-Trustees (June 10, 2021)

David Fowler Johnson, of Winstead PC, has made available for download his article, “Court Reversed Temporary Injunction Against Co-Trustees,” published in JDSUPRA. The abstract is as follows: In Marshall v. Marshall, a beneficiary sued the original trustee and five co-trustees of two trusts regarding claims that they breached fiduciary duties. No. 14-17-00930-CV, 2021 Tex. App. LEXIS … Continue reading David Fowler Johnson (Winstead PC): Court Reversed Temporary Injunction Against Co-Trustees (June 10, 2021)

Florida Probate & Trust Litigation Blog: When’s a creditor claim decided in the Probate Division, and when’s it decided in the Civil Division? (June 1, 2021)

Juan C. Antúnez, in his Florida Probate & Trust Litigation Blog, discusses the claims process with regards to both the Probate Division and the Civil Division. The article begins as follows: A few years ago Jonathan Galler published an excellent article in the Florida Bar Journal explaining the nuts and bolts of how creditor claims … Continue reading Florida Probate & Trust Litigation Blog: When’s a creditor claim decided in the Probate Division, and when’s it decided in the Civil Division? (June 1, 2021)

KPMG: Ninth Circuit: FSC used to transfer funds from family business into Roth IRAs (Tax Court reversed) (June 2, 2021)

KPMG has made available for download their article, "Ninth Circuit: FSC used to transfer funds from family business into Roth IRAs (Tax Court reversed)", which contains the opinion of the U.S. Court of Appeals for the Ninth Circuit in the case of Mazzei v. Commissioner, No. 18-72451 (9th Cir. June 2, 2021). The abstract is as follows: … Continue reading KPMG: Ninth Circuit: FSC used to transfer funds from family business into Roth IRAs (Tax Court reversed) (June 2, 2021)

Charles E. Rounds, Jr. (Suffolk University Law School): Trustees and the privilege against self-incrimination (June 1, 2021)

Charles E. Rounds, Jr., of Suffolk University Law School, has made available for download his article, "Trustees and the privilege against self-incrimination," published in JDSUPRA. The abstract is as follows: A trust is not a juristic person. Rather it is a fiduciary relationship with respect to property, title to which is in the trustee. That … Continue reading Charles E. Rounds, Jr. (Suffolk University Law School): Trustees and the privilege against self-incrimination (June 1, 2021)

David Fowler Johnson (Winstead PC): Texas Legislature Extends The Rule Against Perpetuities To 300 Years For Trusts (June 1, 2021)

David Fowler Johnson, of Winstead PC, has made available for download his article, "Texas Legislature Extends The Rule Against Perpetuities To 300 Years For Trusts", published in JDSUPRA. The abstract is as follows: The Texas Legislatures recently passed a bill that takes effect on September 1, 2021 that extends the rule against perpetuities to 300 … Continue reading David Fowler Johnson (Winstead PC): Texas Legislature Extends The Rule Against Perpetuities To 300 Years For Trusts (June 1, 2021)