Month: August 2020
Mediation… Is it Final or Not?
Posted at 13:42h in Mediation by Linda Griffin Many times after an individual dies, the children of the decedent do not get along even though the children have assured the attorney that “they would never do that”… Such is the subject of numerous probate and trust...
Estate Planning Issues for the Family Lawyer
Every family lawyer must have some knowledge of estate planning issues as you are advising your clients through dissolution of a marriage. Even something as simple as documenting in your file that you have advised the clients that they should consult an estate...
Navigating the Minefield of Settlements: A Primer on Tax Issues for the Probate and Trust Litigator
In these economic times, probate and trust litigators have a growing practice. Litigation results not only from clients who are more knowledgeable in pursuing their rights, but also from the proliferation and increasing complexity of trust documents, together with the...
The Lottery: A Practical Discussion on Advising the Lottery Winner
As lottery winners are becoming more common in Florida, their advisors should understand the particular income, gift, and estate tax issues relevant to lottery winners. A practical difference between planning for a lottery winner and other planning is that generally...
Views From a Former Member of a Grievance Committee: Hot Buttons For the Estate Planning, Probate and Trust Attorney
I have had the great opportunity to be on three Grievance Committees (the “Committee”) for a total of nine years. I would like to say my participation on the Committee has been purely altruistic but my experience has taught me I am not often “purely altruistic”. I...
The Robertson Case: A Beneficiary By Any Other Name Is Still A Beneficiary
By Kristen M. Lynch and Linda Suzzanne Griffin When does the term “beneficiary” not mean “beneficiary”? In the recent case of Robertson v. Deeb, the court determined that an interest of a beneficiary of an inherited individual retirement account (“IRA”) was not an...
How Do You Exercise A Power Of Appointment (“Poa”)
In Cessac v. Stevens, 2013 WL6097315, Sally died having an interest in 3 different trusts. Sally devised the residue of her estate to Joanne. Sally’s will did contain a reference to the trusts but did not reference the POA held by Sally. All trusts included a...
An Ira Payable To A Trust – A Little Relief
If the beneficiary of an IRA is a trust then complicated rules apply to determine whether you can defer the payments of the IRA over the life expectancy of a designated beneficiary (“DB”). If your trust “fail safe” clause provides that, if all named beneficiaries are...
Did You Miss The Portability Election? Relief Is Provided
The estate tax exclusion amount is now “portable” between husband and wife and until recently, no explicit guidance was available to determine when and how to successfully file a late return to elect such portability. In the recent Revenue Procedure 2014-18 the IRS...
Beware Of The Use Of Preprinted Wills!
The Florida Supreme Court held in Aldrich v. Basile, 2014 WL 1240073, that, absent a residuary clause or proper devise of an asset, any after acquired property of a decedent shall pass according to Florida’s intestacy laws. Ms. Aldrich drafted her will using an “E-Z...