Article Library
Scarinci Hollenbeck regularly publishes articles pertaining to legal updates affecting individuals and institutions in New York and New Jersey, and the world at large. Here you can find coverage for when we welcome new attorneys, significant wins we’ve secured on behalf of our clients, and general announcements.
Results for trusts estates articles
When Decanting Can be Used to Amend an Irrevocable Trust in New Jersey
Author: Jeffrey R. PittardDate: March 10, 2021
Despite what the name suggests, it is possible to modify an irrevocable trust. One of the options is known as “decanting,” where the trustee transfers some or all of the principal and undistributed income of the trust to another trust for the benefit of the beneficiary.
As the name suggests, when transferring assets to an irrevocable trust, the grantor relinquishes the right to amend or revoke the terms of the trust in exchange for certain legal and tax benefits. In contrast, a revocable trust allows the grantor to revoke it or change the terms at any time.
COVID-19 Highlights Importance of Understanding the Guardianship Process
COVID-19, unfortunately, is now among the examples of causes for the need to appoint a guardian... It is always advisable...
A Primer on Estate and Inheritance Tax for New Jersey
When someone dies, the people left behind are often stunned and shocked by the taxes they have to pay. They...
Estate Planning Regulation Impacts Small Business And Estate Tax Planning Strategies
The government lost estate and gift tax cases that attracted headlines. The government lost estate and gift tax cases that...
IRS Raises Estate and Gift Tax Exemption for 2017
Those getting their estates in order will be pleased to hear that the IRS raised the estate, gift and generation...
