Revocable & Irrevocable Trusts. Legal news and articles for July 23 - 31, 2013

FAA issues new guidance on non-citizen trustsOhio legacy trustsPremier Bank helps draft protection lawsClark Skatoff PA, a Trusts and Estates law Firm, Moves to new Offices in Palm ...Carissa Giebel column: Do I need a trust?Trust In Tax Breaks: Co-ops and Condos Held by Trusts Will Get Abatements ...New Hong Kong trust law to come into effect 1 December 2013Hong Kong set for new trust lawAction on trust law loophole urgedThe Economic Arrangements LawElder Law: The pros of having a living trustShaw on the Law: What is a revocable living trust?Trust Law (Amendment) Ordinance 2013 gazetted todayCORRECTED-Emergency manager law may help Mich. cities avoid Detroit's fate ...Emergency manager law may help Michigan cities avoid Detroit's fate: Pew

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Malawi Law Society says Bingu's K61bn wealth overblown – report
Nyasa TimesJuly 15, 2013

“According to the law what this means is that the property was disposed of inter vivos [while he was still alive] and could not therefore have been disposed of again at death, as it became the trusts' property the minute it was given to the trust. As ...more »

Shaw on the Law: What is a revocable living trust?
Travelers Rest TribuneJuly 26, 2013

The revocable living trust (“living trust”) is a bedrock foundation of the modern estate plan. A properly drafted living trust offers you complete asset control during your lifetime; provides for you and your loved ones in the event of incapacity; and ...more »

Revocable & Irrevocable Trusts. News and Stories

FAA issues new guidance on non-citizen trusts
International Law OfficeJuly 31, 2013

On June 18 2013 the Federal Aviation Administration (FAA) issued a policy clarification for the registration of aircraft involving US citizen trustees and non-US citizen trustors and beneficiaries (collectively, 'non-citizen trusts') (see 78 FR 36412 ...more »

Ohio legacy trusts
Lexology (registration)July 31, 2013

Traditional spendthrift trusts provide such a shield, as does the incorporation of a business or the formation of a limited liability company. There are continuing questions about the effectiveness of asset protection trust statutes like the Ohio ...more »

Premier Bank helps draft protection laws
Martins Ferry Times LeaderJuly 30, 2013

NORTH CANTON, Ohio - A new asset-governing law has the potential to make a huge economic impact in Ohio and the ripple effect is starting in Stark County. Premier Bank & Trust, a four-branch community bank headquartered in North Canton, employs one ...more »

Clark Skatoff PA, a Trusts and Estates law Firm, Moves to new Offices in Palm ...
PR Web (press release)July 30, 2013

Managing Attorney Jeffrey Skatoff, AV Rated by Martindale Hubbell, is a former trial attorney with the United States Department of Justice, Tax Division. Mr. Skatoff handles probate, trust, guardianship and tax litigation, and estate planning. Some of ...more »

Carissa Giebel column: Do I need a trust?
Green Bay Press GazetteJuly 29, 2013

Probate is the public legal process through the court, where debts are paid and property is distributed according to the will, or if there is no will, the laws of intestacy. Sometimes this process can be timely and costly. Revocable living trusts are ...more »

Trust In Tax Breaks: Co-ops and Condos Held by Trusts Will Get Abatements ...
New York ObserverJuly 29, 2013

There will, in other words, be a high cost to keeping one's identity truly under wraps via an LLC. Neither celebrity nor its concealment come cheap. The law, which has seen five extensions since it passed in 1996, is meant to equalize the tax burden on ...more »

New Hong Kong trust law to come into effect 1 December 2013
Lexology (registration)July 29, 2013

On 17 July 2013, the Hong Kong Legislative Council passed the Trust Law (Amendment) Bill 2013, which will come into operation on 1 December 2013. The purpose of the amendments is to modernise Hong Kong trust law, which is considered to be outdated ...more »

Hong Kong set for new trust law
Legal Business OnlineJuly 29, 2013

The Hong Kong government has published details of the territory's new trust law, which is aimed at boosting the competitiveness of the trust services industry. The Financial Services and the Treasury Bureau (FSTB) on Friday published the Trust Law ...more »

Action on trust law loophole urged
South China Morning PostJuly 28, 2013

Hong Kong lawmakers have urged the government to take quick action to plug what they describe as loopholes in local trust law governing how administrators handle client money held in trusts. They voiced their concerns after local accountant Deborah ...more »

The Economic Arrangements Law
Jerusalem PostJuly 28, 2013

The cancellation of certain benefits coupled, in particular, with the introduction of reporting obligations as well as the taxation of non-resident settlor trusts, including in some instances, on new immigrants and veteran returning residents as of ...more »

Elder Law: The pros of having a living trust
Pittsburgh Post GazetteJuly 28, 2013

Marie, the community spouse of our favorite married couple, Ralph and Marie, about whom we last wrote in our February column, got a little increase in her Minimum Monthly Maintenance Needs Allowance. This is the minimum amount of income a community ...more »

Shaw on the Law: What is a revocable living trust?
Travelers Rest TribuneJuly 26, 2013

The revocable living trust (“living trust”) is a bedrock foundation of the modern estate plan. A properly drafted living trust offers you complete asset control during your lifetime; provides for you and your loved ones in the event of incapacity; and ...more »

Trust Law (Amendment) Ordinance 2013 gazetted today
7thSpace Interactive (press release)July 26, 2013

In addition, the Amendment Ordinance would make Hong Kong more attractive as a trust domicile to settlors, especially those from civil law jurisdictions, because by setting up trusts in Hong Kong, they would not need to worry that the allocation of ...more »

CORRECTED-Emergency manager law may help Mich. cities avoid Detroit's fate ...
ReutersJuly 23, 2013

(Corrects first paragraph to show name of organization is Pew Charitable Trusts, not Pew Center on the States). * Michigan one of 19 states allowing intervention in local finances. * New law gives cities options for handling emergencies. WASHINGTON ...more »

Emergency manager law may help Michigan cities avoid Detroit's fate: Pew
ReutersJuly 23, 2013

WASHINGTON (Reuters) - Michigan's emergency manager law may save other cities in the state from the fate of Detroit, which last week filed for the largest municipal bankruptcy in U.S. history, according to the Pew Charitable Trusts. "These laws are in ...more »

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