When I draft wills and trusts I always include definitions of "child" and "descendant:"
"For purposes hereof, the term "child," however expressed, shall refer to any descendant in the first degree of the parent designated. The term "descendant," however expressed, shall include (i) children or more remote descendants, either naturally born or legally adopted, but
In general, any payment, whether called a gift or not, to an employee is taxable income to the employee.
Gifts of nominal value, such as a holiday turkey, are treated as de minimis fringe benefits. A gift to an employee is de minimis if the value is nominal, accounting for the item would be administratively
When I graduated from law school, I had little insight into the business of running a law practice. Don’t get me wrong; I had great knowledge about the law. But I did not know how to actually build a client roster, create and deliver services, administer an office, and get paid a fair fee for
Neil Hendershot has an excellent post about POA Abuse here which includes the research report "Power of Attorney Abuse: What States Can Do About It."
The most egregious abuse is where the agent simply takes (that is, steals) the principal’s money for is or her own purposes. But there are many other type of
Trusts and Estates published an article here called Get Me To The Church On Time by John T. Brooks and Samantha E. Weissbluth. They write:
"The Kinney case out of Minnesota offers a good review of the general requirements for a valid prenuptial agreement. The appeal also shows a modern trend in which courts
The PA insurance commissioner had accused Deloitte & Touche LLP of accounting and actuarial malpractice
According to the
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1918 photo of 18,000 troops at Camp Dodge in Iowa as they prepared to go off to war.
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The general rule is that damages for a decedent’s pain and suffering (the survival action) are an asset of the decedent’s estate and subject to federal estate tax and PA inheritance tax. The wrongful death award that goes to next of kin for loss of society, consortium and support are not estate assets and are not