Private Client Services Update - Asset Protection-Domestic Asset Protection Trusts (DAPTs) Take a Hit
One of the hot topics among planners over the last several years has been how to utilize the laws enacted by several states (now five) allowing a person to create his own self settled trust or domestic asset protection trust (called a "DAPT"), which have been promoted as not reachable by creditors, if they satisfy the elements of the particular state statue.
By James G. Steiger and Private Client Services
Employee Benefits Alert - Fall 2011
In This Issue:
- Advanced Written Notice of Benefit Changes
- DOL to Re-Propose Rule on Definition of Fiduciary
- IRS Announces Plan Limitations for 2012
- COLA Increases for Dollar Limitations on Benefits and Contributions
By ESOPs & Employee Benefits
Private Client Services Update - Benefit Corporations - A New Business Entity for the Socially Minded Entrepreneur
"Social Entrepreneurship" has become a hot concept in recent years as many businesses and entrepreneurs have sought to bring profit-making and social mission together under one roof.
By David Kamer and Private Client Services
Private Client Services Update - Capacity and Undue Influence Issues in Estate Planning - Incapacity for One Purpose Does Not Mean Incapacity for Another
In my practice, I am often faced with the difficult issue of evaluating the capacity of an older adult client. In the beginning stages of dementia, does the client have the capacity to make important decisions and sign legal documents? Another challenging situation, which frequently occurs concurrently with capacity issues, is undue influence.
By Lawrence G. Cumming and Private Client Services
Regulatory Update - October 2011
Helping the Hospitality Industry Cope with Compliance Under the Americans with Disabilities Act After the 2011 Revised Federal Regulations
By John M. Bredehoft and Robert C. Goodman Jr.
Private Client Services Update - Boilerplate Wills and Trusts Can Cause Unintended Consequences
As the variety of trust instruments available to estate planners increases, the amount of boilerplate or form language in such instruments seems to increase as well. When representing fiduciaries in trust and estate litigation, I see a surprising number of disagreements that arise from language no one likely gave much thought to when the document was drafted. A recent Virginia Supreme Court case reinforces why it is so important to review even the most mundane language of each and every instrument to make sure it accurately portrays the wishes and desires of each client.
By W. Hunter Old and Private Client Services
Private Client Services Update - Use of LLCs to Own Buy-Sell Insurance
Buy-sell agreements funded by life insurance are a popular tool in planning for the succession and longevity of a business upon the death of a business owner. Through buy-sell agreements, business owners can agree to a predetermined disposition of each owners interest in the business upon his or her death or upon other events.
By William L. Holt and Private Client Services