Revocable & Irrevocable Trusts. Legal news and articles for April 18 - 25, 2017

Families And Firewalls—New Trusts Case Law In The Cayman Islands (In The Matter Of The A Trust)Jersey "COURTERLY" Review | April 2017Trust Companies, Banks Should Be Main Haven Targets: EU ReportReport urges asbestos trust transparency in Illinois; 'Disconnect' between asbestos trusts and asbestos litigation ...Missouri poised to become 13th state with asbestos claims transparency lawShawn Weera - Discusses IRA Beneficiary TrustsReview of Reviews: “Non-Charitable Purpose Trusts: Past, Present, and Future,” 51 Real Prop. & Est. LJ 321 (2016)Trust law bites backA Question of Trust: The Trump Family's Conflicts of Interest Aren't Going AwayU.S. House Approves FACT ActMapp Submits Bill Aimed At Attracting Financial Services Industry To USVILATAM Focus: Litigating Trusts Disputes In The BVIWhy make a trust?Bear Yuba Land Trust receives settlement in tree-cutting lawsuitLETTERS: This public trust is backdoor taxation

Top Picks in News

Clients Regret Their Irrevocable Trusts? Try the 'Decanting' Solution
ThinkAdvisorMarch 27, 2017

Assets that remain in the old trust will continue to be governed by its terms (if the old trust is emptied, it can simply terminate). It is the trustee who executes the trust decanting process, using powers either granted by the old trust itself, state ...more »

Protect multiple generations with a dynasty trust
JD Supra (press release)April 4, 2017

Typically, state law would require a trust to end within 21 years of the death of the last potential beneficiary at the trust's creation. Some states have adopted a simplified version limiting the trust ... For instance, if a family patriarch or ...more »

Revocable & Irrevocable Trusts. News and Stories

Families And Firewalls—New Trusts Case Law In The Cayman Islands (In The Matter Of The A Trust)
Mondaq News Alerts (registration)April 25, 2017

The matter came before the Grand Court of the Cayman Islands by virtue of an application by the trustee of the trust, who seeks directions pursuant to section 48 of the Trusts Law as to the extent to which the trustee should become involved in the ...more »

Jersey "COURTERLY" Review | April 2017
Mondaq News Alerts (registration)April 25, 2017

In In the matter of the D Settlement [2017] JRC 061, the Court gave its approval to a decision taken by the trustee (the "Trustee") of a Jersey law trust ("the Trust") which was intended to enable one of the beneficiaries (being the settlor) of the ...more »

Trust Companies, Banks Should Be Main Haven Targets: EU Report
Bloomberg BNAApril 25, 2017

The April 24 study for the European Parliament Panama Papers investigative committee also called for the scope of anti-money laundering and anti-terrorist-financing laws to be expanded to cover banks and others intermediaries active in offshore ...more »

Report urges asbestos trust transparency in Illinois; 'Disconnect' between asbestos trusts and asbestos litigation ...
Madison County RecordApril 24, 2017

Illinois law does not require plaintiffs in lawsuits to disclose trust claims they could be eligible to seek compensation from - and their lawyers typically don't file claims with bankruptcy trusts until after resolving litigation against solvent ...more »

Missouri poised to become 13th state with asbestos claims transparency law
St. Louis RecordApril 22, 2017

Behrens was referencing a nearly 4-year-old case involving Garlock Sealing Technologies in which it was alleged in a lawsuit that a handful of law firms representing asbestos plaintiffs in civil actions were untruthful about their clients' exposures ...more »

Shawn Weera - Discusses IRA Beneficiary Trusts
Yahoo FinanceApril 22, 2017

Shawn Weera, JD, MFP, is a nationally recognized asset protection expert and the President of the Law Offices of Shawn Weera. As a licensed elder law attorney, he has been helping retirees preserve their assets through wise and efficient planning for ...more »

Review of Reviews: “Non-Charitable Purpose Trusts: Past, Present, and Future,” 51 Real Prop. & Est. LJ 321 (2016)
WealthManagement.comApril 20, 2017

This interesting article is a good read for all trusts and estates would-be scholars, from law students to practicing attorneys, as it hits the heart of what's a valid purpose trust. It also delves into the history and differences among private trusts ...more »

Trust law bites back
Lexology (registration)April 20, 2017

The recent decision of the Full Federal Court in Thomas is a timely reminder of two points: tax results are often dictated by the rules of the non-tax world, and even unattractive cases sometimes win. The transaction in Thomas was relatively simple ...more »

A Question of Trust: The Trump Family's Conflicts of Interest Aren't Going Away
NewsweekApril 20, 2017

She suggested that such concerns were unwarranted, as she would no longer manage the company which had been placed into a trust, run by her sister-in-law and brother-in-law. Like her father, she has declined to sell off her assets, saying that would ...more »

U.S. House Approves FACT Act
The National Law ReviewApril 20, 2017

Supporters argue that the bill will protect bankruptcy trusts' limited resources, thereby reserving funds for those claimants who are most in need by requiring trusts to file quarterly reports that will reflect claimants' demands for payments and the ...more »

Mapp Submits Bill Aimed At Attracting Financial Services Industry To USVI
VI Consortium (press release)April 20, 2017

While some of these provisions already apply to limited liability companies under Virgin Islands' law, the proposed changes would be the first time that such provisions would apply to corporations formed in a United States jurisdiction. Franchise and ...more »

LATAM Focus: Litigating Trusts Disputes In The BVI
Mondaq News Alerts (registration)April 20, 2017

The Ordinance contains comprehensive provisions regarding reserved powers, purpose trusts, conflict of laws and trustee powers, including the power to delegate investment strategy to agents. Powers of investment and delegation are ordinarily prescribed ...more »

Why make a trust?
Lexology (registration)April 20, 2017

You may also be able to reduce any capital gains tax liability arising on increases in the value of your assets through the use of trusts. Tax law changes frequently so you may want to take advantage of current, beneficial tax reliefs by transferring ...more »

Bear Yuba Land Trust receives settlement in tree-cutting lawsuit
The Union of Grass ValleyApril 20, 2017

This week, local attorney Michael V. Nudelman agreed to settle with Bear Yuba Land Trust in a lawsuit for the unauthorized cutting of several large growth trees — over a century old — on Woodpecker Wildlife Preserve in Nevada City. The land trust has ...more »

LETTERS: This public trust is backdoor taxation
Stillwater News PressApril 18, 2017

The concept of a public trust is well established with case law dating back to the earliest writings about 500 AD, in Justinian I, period of Rome. Private trusts are even better documented in the United States with rigid federal law oversight at ...more »

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