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Special Report Trusts and Estates

From: The New York Law Journal Special Report <newyorklawjournal@alm.com>, sent: 13:43:22 - 30.12.2016

NYLJ | Special Report

Trusts & Estates August 29, 2016

View this Special Report as a PDF.

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Decanting Emerges as a Powerful Tool for Estate Planning

Sabino Biondi of Wilk Auslander discusses a strategy known as decanting, which can provide a suitable solution for changing provisions of an irrevocable trust. Read More »

Learning to Trust: Revoking the Irrevocable Can Be Done

Marcus O'Toole-Gelo and Melissa Negrin-Wiener of Genser Dubow Genser & Cona discuss whether an irrevocable trust can be revoked and write: EPTL 7-1.9 provides a mechanism for the grantor of an irrevocable trust to amend or revoke it, provided the trust was drafted properly and the statutory procedures are followed. Read More »

Who Can Recant a Decant? Who Is the 'Creator' of a Decanted Trust?

Steven H. Holinstat, Henry J. Leibowitz and Daniel W. Hatten of Proskauer Rose address the question of whether a trustee who decants from the original or "invaded" trust into an "appointed" trust becomes the "creator" of the appointed trust, thereby divesting the original settlor of his/her rights under EPTL §7-1.9. A host of statutory rights and estate and tax planning consequences hinge upon this answer. Read More »

NY's Latest Legislative Session: What Passed, What Didn't, What's Next

Sharon L. Klein of Wilmington Trust, N.A examines noteworthy measures from the last year of the 2015-16 legislative session and discusses what passed, what failed to pass, and what lies ahead for the new two-year 2017-18 session. Read More »

Multi-Generation Co-Ownership of Vacation Property as a Planning Alternative

Mark G. Holden of Withers Bergman writes: Various trust structures, such as qualified personal residence trusts or gift sale and lease back from grantor trusts, can be very effective tax and estate planning tools for vacation real property if the donors are willing to properly administer those approaches over time. Read More »

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