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Archive for the ‘Modification of Irrevocable Trusts’ Category

Failure to Follow Signing Formalities Can Sink an Estate Plan

Published: June 6th, 2017

By: Brad Gould

Wills and trusts must be executed with certain formalities. If those formalities are not strictly complied with by the parties, the documents may be disregarded. In the case of Kelly vs. Lindenau, a grantor’s failure to have two witnesses sign a trust amendment resulted in the invalidity of the trust amendment. The grantor, Ralph Falkenthal, […]

Consequences of Modification of a QTIP Trust Settlement

Published: October 23rd, 2014

By: David J. Akins

Consequences of Modification of a QTIP Trust Settlement: One Scenario in ‘The Tale of Moné Baggs Smith’ A “QTIP” trust is a “Qualified Terminable Interest Property” trust. It is often used by spouses in a second or subsequent marriage where at least one party has children from a previous marriage. The QTIP trust allows the […]

Upcoming Seminar: Tax Consequences of Trust & Estate Settlements and Modifications

Published: October 9th, 2014

By: Robert J. Naberhaus III Lauren Y. Detzel

Please join us on Thursday, Oct. 23rd for an informative seminar on the topic of “Tax Consequences of Trust & Estate Settlements and Modifications”. Taxes can make or break a deal. Using case studies, the attorneys will discuss costly tax issues that advisors need to be on the lookout for when negotiating estate and trust […]

How to Modify a Credit Shelter Trust without Destroying Tax Benefits

Published: September 4th, 2014

By: Brian M. Malec

How to Modify a Credit Shelter Trust without Destroying Tax Benefits A credit shelter trust, often referred to as the “Family Trust,” helps married couples avoid estate taxes when passing assets to their heirs. Upon the death of the settlor, the spouse benefits from the trust assets and the income they generate for the remainder […]

Aug. 5th Seminar: Tax Consequences of Trust & Estate Settlements and Modifications

Published: July 29th, 2014

Taxes can make or break a deal.  Using case studies, the panel will discuss costly tax issues that advisors need to be on the lookout for when negotiating estate and trust settlements or modifying irrevocable trusts. Tuesday, August 5, 2014 11:30 a.m. – 1:30 p.m.   (Lunch Included) Location:  Orange County Bar Association 880 N. Orange […]

Fed Up with the QTIP Trust? Tax Results of Terminating QTIP Trust

Published: September 9th, 2011

By: Robert J. Naberhaus III

Many of today’s modern estate plans employ a marital trust under Code sections 2056(b)(7) or 2523(f) known as a QTIP trust (QTIP stands for Qualified Terminable Interest Property).  This is a trust which grants a life income interest to spouse and upon his or her death, named beneficiaries receive the remainder.  The property funding the […]

Florida Legislative Update Regarding Trusts and Estates Law

Published: May 13th, 2011

By: Dana M. Apfelbaum

Governor Scott is expected to sign House Bill 325 into law shortly. House Bill 325 provides for several changes to the existing trusts and estates law. These changes are briefly summarized below. Fiduciary Lawyer-Client Privilege. There is a new fiduciary lawyer-client privilege rule, whereby a fiduciary client is protected to the same extent as any […]