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March 2021 Digital Edition
Features on Fiduciary Professions and Perspectives, plus columns on Tax Law Update, Philanthropy and Tips From the Pros
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Selecting the Best Fit in Long-Term Care Coverage
Factors to consider to identify the product that meets your client’s needs As they age, many of our clients will need assistance in caring for themselves. Long-term care (LTC) insurance provides funds...
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Are Financial Advisors Turning Away From Attorney Referrals?
Rethinking the interaction of estate planning and wealth management practices In the midst of COVID-19, financial advisors have been forced to grapple with a changing world when it comes to fiduciary...
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Building Resilience in A Family Enterprise
Like a muscle, it requires exercise and effort For those who hadn’t thought much about resilience previously, the COVID-19 pandemic may have brought it to the forefront. The upside of any crisis is...
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Legal Challenges and Solutions for Trustees of Trust-Owned Life Insurance
Active and careful management is required Many trustees mistakenly believe that life insurance is a static financial instrument. However, trust-owned life insurance (TOLI) requires active and careful...
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Drafting Trusts for Children After the SECURE Act
Clients need to carefully weigh income taxes against asset protection concerns On Dec. 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted.1 The new...
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An Uptick in Art Rental Appraisal Requests
What are the causes and consequences? The final months of 2020 saw a significant uptick in art rental appraisals. While perhaps an unusual trend in the art market, this uptick didn’t much surprise...
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Selling and Consigning Artwork in The Era of COVID-19
Legal tips for collectors to keep in mind Auction houses and other art vendors have adjusted their business practices to address some of the logistical hurdles caused by the COVID-19 virus. Here’s how...
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Selling Artwork in a Turbulent Economy
Consignor protections and potential treatment in bankruptcy Given the distressed economy in which art businesses are currently operating due to the global COVID-19 pandemic, galleries and auction...
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Force Majeure Clause Nullifies Consignment Agreement
U.S. federal court rules COVID-19 pandemic is a “natural disaster” The COVID-19 pandemic has affected the art world in many ways, including making it difficult, if not impossible, for art businesses...
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April 2021 Digital Edition
Features on Fiduciary Professions and Perspectives, plus columns on Tax Law Update, Philanthropy and Tips From the Pros
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When an In Terrorem Hits the Interstate
Enforcing no-contest clauses across state lines. In terrorem, or no-contest, clauses in estate-planning instruments have been the subject of much discussion and debate, including in this publication....
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Overcoming Unconscious Bias In Philanthropy
How blind spots may result in unintended consequences. What’s a “blind spot” in the context of philanthropy? It typically refers to a behavior, observation or perception that, while well intended and...
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SPAC Crash Course for Wealth Advisors
Where the worlds of special purpose acquisition companies and carried interest wealth transfer structuring collide.By now, most of you reading this will have witnessed the proliferation of special...
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Fiduciary Law Trends
A roundup of significant court cases. It’s been quite a year health and politics wise. Due to countless shutdowns in the courts, there were less reported cases. But, like in previous years, of the...
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The Fiduciary’s Guide to Cryptocurrency: Part I
Acceptance and management by executors and trustees. Cryptocurrencies are digital assets that present unique challenges for fiduciaries. In a two-part series, we use the lifecycle of the fiduciary...
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Exercising Fiduciary Discretion in an Uncertain and Increasingly Litigious World
Individual trustees are at the most risk for lawsuits and liability. The next few decades will see global intergenerational wealth transfers on an unprecedented and almost unimaginable scale. Some...
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Selecting Independent Trust Companies
Factors to consider to meet your clients’ long-term needs. Attorneys should conduct due diligence before recommending an independent trust company (ITC) to their clients. Choosing the right ITC has...
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The Nuts and Bolts of Fiduciary Accountings
A fundamental duty owed to the beneficiaries. Acting as a fiduciary isn’t easy. A fiduciary owes many duties to the beneficiaries, and a breach of a duty can result in liability. This includes the...
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Keep Up-to-Date With Digital Responsibilities
Getting access to online accounts post-death is critical. As the exponential growth in the storage of asset and liability information on digital platforms and devices continues unabated, the ability...
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