In all these cases, a testamentary trust can be a useful estate planning tool. What’s more, it makes it possible to leave assets to minor children who may not be able to legally possess or ...

Last November, in a Thanksgiving letter to shareholders, Berkshire Hathaway chairman and CEO Warren Buffett struck what ...

I asked to be put on the deed to my mother’s home and I was met with a swift ‘no’ from her partner. He said that since he had ...

And unlike the Alfred I. duPont Testamentary Trust — which has one charitable beneficiary, the Nemours Foundation — it has ...

Primary producers and small businesses with SMSFs are beginning to sell their assets in anticipation of the $3 million super ...

Some countries have “forced heirship” laws that dictate how assets are to be distributed upon death, often prioritizing family members over an individual’s testamentary wishes. Other countries have ...

A good illustration of this point is found in Alfred I. DuPont Testamentary Trust v. Comm’r, 514 F.2d 917 (5th Cir. 1975). In that case, the taxpayer built a mansion on 300 acres of property ...

UDT never appears in testamentary trusts, which are created by wills. The grantor cannot serve as the trustee of a testamentary trust because the trust goes into effect when the grantor dies.

A testamentary trust is created as part of a will. Neither trust need be funded until the individual passes away, at which time the property of the testator (i.e., the deceased) would be placed in ...

She works with individuals in all areas of estate and gift tax planning, from testamentary estate planning and business succession planning to sophisticated lifetime leveraged gifting techniques ...

or testamentary bequest, regardless of whether the property is held directly or by a representative of an elder or dependent adult.” Welf. & Inst. Code § 15610.30(c) (emphasis added). This means that ...

We are trying to understand how a testamentary trust works as well as the 21-year deemed disposition rule. My mother’s estate will be worth about $4 million (a split of 50 per cent in rental real ...