David A. Handler and David Sennett's May article, Avoid FLPs: Try restricted management accounts instead drew a response from another frequent Trusts & Estates writer and respected estate-planning lawyer. Owen G. Fiore made so many excellent...

Collecting is not for the faint of heart. In recent years, the news has brimmed with stories about unsuspecting private collectors and museums having to turn over items from their collections to individuals claiming that the art had been stolen or...

The last years of the so-called new economy brought at least one familiar result: America's rich grew richer, according to the most recent Federal Reserve Board survey of consumer finances. Average net worth of the top 10 percent of households...

Suppose you told clients about an annual gift-giving program that would allow them to give up to $55,000 per beneficiary, repeat the process again and again, and defer federal income tax on the gift until it was used and probably avoid it...

Attorneys evaluating disputes involving beneficiaries or fiduciaries should remember that the American Rule, stating that each party must pay his own legal fees, does not always apply in trusts and estates litigation. A recent example is In re...

On July 10, Alaska Governor Frank Murkowski signed into law a new state trust bill that passed the 23rd Alaska legislature by unanimous vote.1 The provisions of this bill improve creditor protection for third-party beneficiary trusts and self...

In the next decade, as baby boomers stand to inherit trillions of dollars from their parents, more new millionaires might be born through inheritance than investing. These new inheritors likely will dump advisors who had served their parents, or...

In a first for this magazine, on July 8, we broke a story of national interest by posting on our website a report entitled Wealthy Family Sues Famous Lawyer Over Tax Plan. Sources tell us insurance companies immediately emailed and faxed the T&E...

When it comes to executive compensation, nonprofit organizations face problems not encountered by for-profit employers. Providing benefits can be daunting, and compensation packages often lack stock options as well as other equity enticements. An...