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Proactive Trust Planning to Protect Your Clients
Planning for trusts has evolved substantially over the years. “Modern” trusts are more comprehensive, flexible and protective than those that were more typically completed only a few short years ago. Understanding the characteristics of modern trust drafting is critical to achieving better protection for clients. But this planning can extend well beyond just planning new trusts. Even existing irrevocable trusts that might have been created in a less optimal manner may be improved. And it may be feasible to bring back into a protective trust structure gifts and bequests that were made out of trust. The IRS and the Obama administration have taken a less-than-favorable view of some of the planning techniques. Practitioners need to be aware of these risks so that they can encourage clients to act quickly when advisable.
Are Trust Assets Reachable?
Whether a trust is reachable in a divorce proceeding will depend on a number of trust characteristics. If a trust is deemed a “support” trust, which directs the trustee to make distributions to support the beneficiary, it may be reachable. A common support standard is Health Education Maintenance and Support, referred to by the acronym “HEMS.” Support trusts may have to rely on a spendthrift provision for any protection from claimants. In contrast, a “discretionary” trust gives the trustee the power to determine if, when, and how much to distribute from the trust. A pure support trust might be easier to reach in a matrimonial action. A pure discretionary trust may be more difficult to reach, because the trustee does not have to exercise the discretion given. While these generalities provide useful constructs, reality is much more complex because many trusts are actually a blend of the two principals, and all of this is compounded by the differences in state law.
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.