"Boilerplate" provisions in a contract, will, or other legal documents are sections of apparently routine, standard language. The term comes from an old method of printing. Today, "boilerplate" is commonly stored in computer memory to be retrieved and copied when needed. A layperson should beware that the party supplying the boilerplate form usually has developed
Life, Death and Insurance: Indiana’s $15 Million Mystery
Leslie Scism and Mark Maremont writing for the Wall Street Journal detail the story of the late Germain Tomlinson who was found dead in her bathtub at the age of 74 "fully clothed from an evening out at a martini bar, high heels still on her feet." Her "social companion," 36-year old JB Carlson had a $15
Trustee Fees – How Much?
The Trust Advisor Blog includes this post on Who’s Charging What for Trust Services: click here
Fees – the big question clients ask about corporate trustees. What do they charge and what do they do? Here is some excellent up-to-date information.
Hat tip to Juan Altunez at Florida Probate and Trust Litigation Blog.
Family Limited Partnerships – Make It a Real Deal
The biggest challenge for estate planners is how to reduce estate and gift taxes but allow the client to retain control over his assets. Family limited partnerships (FLPs) provide a solution to this problem.
When you place investments, a business, or real estate holdings in a FLP, you retain control of the assets while at
Can a change of life insurance beneficiary designation be challenged?
J. Michael Young blogs about a change of beneficiary designation when the decedent lacked sufficient mental capacity or was the victim of undue influence. He provides an excellent discussion of In re Estate of Wallis in this post.
PA Supreme Court Decides Novosielski
The Pennsylvania Superior Court is reversed! No surprise. (See our prior posts here and here.) Read the Supreme Court’s decision here.
Common sense prevailed. Joint accounts are rehabilitated. The joint account result is correct and good. However, in this particular case, the appellants missed the boat. This really should have been a case on the appropriateness
Pennsylvania Tax Amnesty
"Amnesty
(from the Greek amnestia, oblivion) is a legislative or executive act by which a state restores those who may have been guilty of an offense against it to the positions of innocent people. It includes more than pardon, in as much as it obliterates all legal remembrance of the offense.
Who gets the grandfather clock?
How many families do you know who fought over the settlement of their Mom and Dad’s estate? In my experience, these family feuds are often over things – not money. Who gets the sterling flatware and who gets the drop-leaf table are points of contention that rip apart the family fabric.
Mom and Dad, why
The Art of the Steal
Manohla Dargis writes a movie review of a documentary about the Barnes Foundation for the New York Times.
Dr. Albert Barnes’ will provided that the collection must remain in its original location – the mansion in Lower Merion Township, Pennsylvania.
The Foundation became embroiled in controversy due to a financial crisis in the 1990s, partially related
Billionaire Mel Simon’s Widow and his Kids Fight it Out.
Mel Simon, who died at age 82 in September 2009, left behind a huge estate tangled in litigation. Mr. Simon was famous for building shopping centers – including the huge multi-use complex, Mall of America, located outside of Minneapolis, known as the U.S.’s largest mall. Forbes estimated his net worth at $1.3 billion.
Mr.