New Case Expands Shifting Trust/Trustee Attorney’s Fees and Costs to a Beneficiary’s Share of the Trust

Summary. The decision in Pizarro v. Reynoso expands the shifting of trust/trustee attorneys’ fees and costs to a beneficiary’s trust share, and in relevant part reminds us that all trust and estate litigation cases vary and are determined in significant part by the facts and circumstances of that case, the relevant case law, and the…

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New California Trust Case – Trustee Not Liable For Beneficiary’s Personal Damages, And Also Not Liable For Beneficiary’s Failure To Take Action

Overview Williamson v. Brooks holds that a trustee is not liable for personal damages suffered by the beneficiary, and a trustee is not liable to the beneficiary if the beneficiary failed to diligently protect her interests. Williamson v. Brooks, California Court of Appeal, Second Appellate District (2d Civil No. B265745, decided January 31, 2017) Summary…

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Intentionally Defective Grantor Trusts

While day-to-day activities of a business usually consume most of a business owner’s time, planning for how the business will be passed on is also important. With good planning and proper structuring, business succession can be accomplished, while simultaneously providing benefits to both business owners and the individuals receiving the business. A common way of…

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Estate and Gift Tax Provisions Set to Expire

By David Spence On January 1, 2013 the generous estate and gift tax provisions in the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (“2010 Tax Relief Act” or “the Act”) are set to expire.  The Act lowered estate, gift, and GST taxes for 2012 by increasing the exemption amount from $1,000,000…

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