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Ademption by satisfaction, also known as satisfaction of legacies, is a common law doctrine that determines the disposition of property under a will when the testator has made lifetime gifts to beneficiaries named in the will.
Trusts are often created pursuant to an estate plan for wealthy individuals to avoid the effects of the federal estate tax. Under current federal estate tax law, in 2008, individuals that own interests in any property (individually owned, jointly held, or otherwise) which exceeds a fair market value of $2 million is subject to the estate tax at ...
Trusts & Estates is a wealth management journal published by Informa which covers trust law and estates. It was first published in 1904 (as a periodical called Trust Companies ) under the direction of Christian A. Luhnow, who was the editor, publisher and owner of the magazine at the time.
The American College of Trust and Estate Counsel (ACTEC) was established in 1949. It is a professional organization of lawyers , fiduciary counsel and law professors , peer-elected to membership by demonstrating the highest level of integrity, commitment to the profession, expertise, and experience as trust and estate counselors.
The doctrine of acts of independent significance at common law permits a testator to effectively change the disposition of his property without changing a will, if acts or events changing the disposition have some significance beyond avoiding the requirements of the will.
Spencer Steer was the Reds' most consistent hitter in 2023, but it's been a much different story in 2024. Spencer Steer trusts his process at the plate, despite toughest slump of his career Skip ...
The modern view is that where a beneficiary was intended to inherit part of the residuary estate who predeceases the testator, and that beneficiary is not covered by the anti-lapse statute, then that beneficiary's inheritance will return to the residuary estate, to be inherited by the other beneficiaries to whom the residue has been willed.
The investment of the pre-tax proceeds potentially gives private annuity trusts the ability to generate substantially more money over the long run than a direct and taxed sale. Partially offsetting this advantage are the compressed income tax brackets for trusts that cause the investment earnings to reach the maximum income tax bracket when ...