Category Archives: Trusts

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Know the Legality of Electronic Signatures

In a time of global transactions which more often than not occur without a single physical meeting between the parties, it is important to understand when an electronic signature is legal and appropriate. The two federal statutes that address this question are the Electronic Signatures in Global and National Commerce Act 2000 (ESIGN) and the … Continue Reading

President Barack Obama Signs New Legislation Regarding Special Needs Trusts

On Dec. 13, 2016, President Barack Obama signed the 21st Century Cures Act (Act) allowing individuals to create their own self-settled special or supplemental needs trust (SNT), without having to go to court. [1] Prior to enactment of this new law, disabled individuals who did not have a living parent or grandparent (or did not … Continue Reading

Trusts Can Provide Benefits Even for the Most Financially Savvy

In planning for the next generation, many parents struggle with the decision of whether to transfer property to their children outright or in trust.  Some feel that transferring property outright is the best option when the beneficiary is competent (i.e., mature, intelligent, financially savvy, and capable of managing money and making investment decisions).  A beneficiary … Continue Reading

Selection of Fiduciaries

One of the most important decisions you will make in developing a legacy plan is selecting the right individuals to serve out the roles in your core legacy planning documents. The people appointed to these roles are often called fiduciaries or sometimes, stewards. A fiduciary is a person or institution who can act on your … Continue Reading

Treasury Department Issues Proposed Regulations That Will Dramatically Reduce Valuation Discounts

On Aug. 2, 2016, the Treasury Department issued proposed regulations under Section 2704 of the Internal Revenue Code that, if finalized in their present form, would substantially alter the valuation of transfers of interests in family-controlled entities (including corporations, partnerships, and LLCs) for estate, gift and generation-skipping transfer tax purposes. To read the full GT … Continue Reading

Greenberg Traurig’s Diana Zeydel Featured In Forbes

Greenberg Traurig attorney, Diana Zeydel, was recently quoted in Forbes where she discusses the new proposed regulations regarding the valuation of family limited partnerships. These new proposed regulations would likely make it more difficult for business owners and others to manage their estate tax exposure. To read the full article, click here.… Continue Reading

When a Fiduciary is Personally Liable for Unpaid Taxes

Although many people name family and friends as trustees or personal representatives in their legacy plan, it’s probably safe to assume that the people being appointed don’t have an understanding of the high level of responsibility inherent in carrying out their fiduciary duties.  One of the greatest fiduciary responsibilities is payment of a trust’s or … Continue Reading

Estate and Asset Protection Planning for Special Needs

Although important for all families, estate planning is critical for those with a special needs child or spouse.  Eligibility for means-tested government benefits could be jeopardized by leaving an improperly structured inheritance to a special needs person.  Consequently, finding a way to provide for special needs family members without interference with eligibility for government assistance … Continue Reading
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