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New Jersey Law Journal

Absolutely Assigned Rents: Are They Property of a Bankruptcy Estate?

The right to receive rents may or may not be part of a debtor's estate. The answer, as with most legal questions, is: "It depends."
8 minute read

New York Law Journal

Shannon v. Zaffiro

Agents Acting Within Scope of Authority In Devising Interest in House to Themselves
2 minute read

New York Law Journal

Top 10 Developments, Lessons and Reminders of 2013

Sharon L. Klein, managing director of family office services and wealth strategies at Wilmington Trust, N.A., writes: From landmark legislation, to important regulatory guidance to instructive case law, 2013 saw many significant New York developments, lessons and reminders.
24 minute read

New York Law Journal

Estate of O'Brien

Residuary Estate Disposition Made to Decedent's Grand-Nieces Under EPTL Anti-Lapse Statute
1 minute read

New York Law Journal

Matter of the Estate of Courant

Summary Judgment Dismissal of Turnover Suit as to Viola Granted, Denied as to Violin
1 minute read

New York Law Journal

Automatic Allocation of GST Exemption: Traps for the Unwary

Jay D. Waxenberg, Andrew M. Katzenstein and Maggie Mouradian of Proskauer Rose write: Dynasty trusts for the benefit of succeeding generations are standard tools in every estate planner's toolkit. Some practitioners and their clients rely on automatic allocation of generation-skipping transfer tax exemption to these trusts to keep them exempt from GST tax. Without careful planning, however, the automatic allocation may not take place, making the intergenerational tax savings unavailable.
13 minute read

New York Law Journal

'Brewer' Raises New Issues Regarding Estate Distribution

Terence E. Smolev and Christina Jonathan of the Law Offices of Terence E. Smolev, P.C. write: 'Brewer', which started off with the complex issue of a mother's ability to collect from her children's estate, lead to the interesting question pending before the Nassau County Surrogate's Court, of where the money now goes.
11 minute read

New York Law Journal

Standing to Enforce Restrictions on Use of Charitable Gifts

Kramer Levin Naftalis & Frankel's John C. Novogrod and Annie L. Mehlman write: As donors become more charitably minded and make larger, more significant contributions, they desire greater control over the administration of their gifts. Unfortunately, both common law and New York statutory law impede donor enforcement of the terms of their charitable gifts, traditionally providing standing only to the state attorney general.
17 minute read

New York Law Journal

Trusts & Estates

By | January 21, 2014
In this Special Report from the New York Law Journal, brought to you free by WithumSmith+Brown, PC: "Top 10 Developments, Lessons and Reminders of 2013," "Standing to Enforce Restrictions on Use of Charitable Gifts," "Making Disclaimer Work for Minors," "Revocable Inter-Vivos Trusts," "Automatic Allocation of GST Exemption: Traps for the Unwary" and "'Brewer' Raises New Issues Regarding Estate Distribution."
3 minute read

New York Law Journal

Making Disclaimer Work for Minors

Darcy M. Katris and Emelia G. Short of Hodgson Russ write: Both New York's EPTL §2-1.11 and Internal Revenue Code §2518 permit an individual to disclaim an interest in property transferred to him or her if certain conditions are met. Although the conditions in the EPTL and IRC are similar in many respects, there are some differences. For example, the treatment of minors as disclaimants is more liberal under the IRC than under the EPTL.
9 minute read

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