Monday, September 11, 2023

North Dakota Supreme Court Applies Uniform Probate Code to Clarify Scope of Probate Court’s Subject Matter Jurisdiction

In situations where one party involved in a loan, contract, or exchange passes away before fulfilling their obligation, there is a common legal process to address this when the deceased owes something (obligor). Typically, a creditor claim is filed in the decedent’s estate. However, when the deceased is the one owed something (obligee) and passes away before receiving payment, there is no universal procedure.

This issue recently came up in a North Dakota case, Matter of Estate of Froemke…
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Sunday, September 10, 2023

FDIC Changes Insurance Coverage of Trust Bank Accounts

Almost every funded trust has one or more bank accounts, most of which are insured by the FDIC. The FDIC has issued new regulations effective April 1, 2024, changing how bank accounts held in the name of a trust will be insured. It will treat both revocable and irrevocable trusts the same for determining the limits on insurance. Such accounts may be insured up to $1.25 million rather than the current $250,000 limit on many individual accounts.

For more information see Matthew F. Erskine “FDIC Changes …
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Friday, September 8, 2023

Dianne Feinstein initially said she gave her daughter ‘no permission to do anything’ before calling a reporter back to clarify that she had given her daughter power of attorney

In August, it was reported that Senator Dianne Feinstein had given power of attorney to her daughter, former San Francisco Superior Court Judge Katherine Feinstein. The Senator then told a reporter that her daughter did not have permission to do anything regarding her legal affairs. However, she later called back and confirmed giving her daughter power of attorney. 
During the phone call, Senator Feinstein clarified “I’ve asked…
Continue Reading Dianne Feinstein initially said she gave her daughter ‘no permission to do anything’ before calling a reporter back to clarify that she had given her daughter power of attorney

Thursday, September 7, 2023

2023 Texas Estates & Trust Codes

Gerry W. Beyer (Texas Tech University School of Law) published 2023 Texas Estates & Trust Codes. Provided below is the Abstract:
This document contains the Texas Estates Code and the Texas Trusts Code (and related Property Code provisions) showing all changes made by the 2023 Texas Legislature. The changes, most of which take effect on September 1, 2023, are shown in red-lined format for easy comparison of the prior and new versions of the statutes. Also included are charts converting Probate Code to Estates Code sections and Estates Code…
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Tuesday, September 5, 2023

‘Succession-style squabble’ over Mohamed Al-Fayed’s fortune looms: Tycoon’s four children have been in a ‘sibling power struggle’ with claims of ‘assault’ and ‘drug use’ – now who will inherit his £1.7bn in assets?

Self-made billionaire and former Harrod’s owner Mohamed Al Fayed died last week. His death could spark a “Succession-style” battle for his empire. 
His children Jasime, Karim, Camilla, and Omar are tasked with unraveling the riddle that is his various assets. It is believed he had an extraordinary number of multi-million-pound assets, including the Paris Ritz Hotel and a mansion near Oxted, Surrey, which…
Continue Reading ‘Succession-style squabble’ over Mohamed Al-Fayed’s fortune looms: Tycoon’s four children have been in a ‘sibling power struggle’ with claims of ‘assault’ and ‘drug use’ – now who will inherit his £1.7bn in assets?

Sunday, September 3, 2023

I’m turning 85. Is Alzheimer’s coming for me?

Author Elaine Soloway penned an Opinion piece for The Washington Post last week titled, I’m turning 85. Is Alzheimer’s coming for me? Below is an introduction:
They are walking toward me. Elizabeth? No, that’s not right. She is tall. Her long, blond hair is partially hidden by a wide-brimmed straw hat. I start an alphabet wheel in my head: Alice, Betty, Carol. And whew, before the wheel completes its circle, it comes to me: Kathleen! That’s it: Kathleen. Now what about him?
I have just a few seconds to…
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Saturday, September 2, 2023

Legendary musician Jimmy Buffett dead at 76: ‘Lived his life like a song til the very last breath’

Legendary singer and songwriter Jimmy Buffet died peacefully on Friday at age 76. He has been suffering from an undisclosed health issue since 2022 and was surrounded by his family, friends, music, and dogs, according to the statement posted on his website and social media accounts. “He lived his life like a song till the very last breath and will be missed beyond measure by so many,” the statement read. Buffet’s health issues were made public after he…
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Friday, September 1, 2023

‘The Blind Side’ lawsuit spotlights tricky areas of family law

The high-profile legal drama between Michael Oher and the Tuohy family continues to unfold after Oher claimed he believed to be Sean and Leigh Ann Tuohy’s adopted son, only to find out he was under a court-imposed conservatorship instead. Oher further alleges that the Tuohy’s gained financial advantage due to the setup.
This week, in a piece for The Conversation, Professor Naomi Cahn, a trust and estates and family law professor at the University of Virginia, breaks down the difference between a conservatorship and adoption and…
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Thursday, August 31, 2023

3 big things your loved ones need you to leave behind before you die

As many plan for what will happen after they die, they focus on family heirlooms and setting up family members for financial success. While these are essential factors in estate planning, three significant steps can be taken to set your family up for success.
No. 1: Clarity on Your Wishes. When your family is grieving, making major decisions is even more challenging. Providing clarity on your personal preferences makes everything smoother for your loved ones.
No. 2: Access to Important Information. Where…
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