In the past month, we have seen significant developments in estate planning, business law, elder law, and special needs planning. We have highlighted the most noteworthy developments to ensure you and your firm stay informed of any changes. From cases addressing whether a residence should be included in a decedent’s gross estate despite a qualified personal residence trust transfer, vacating the integration mandate provisions of a federal regulation, and ruling on the limited partner exception to self-employment tax, to a new California law imposing requirements on attorneys’ use of artificial intelligence (AI), read on to learn how these developments may impact your practice. 

Jeremiah W. Doyle IV, Esq.

Written by Allison Voge, JD, LLM

Choosing whether to use one joint trust or separate individual trusts when planning for a married couple requires careful consideration. A joint trust is established by a single trust agreement and is designed to hold nearly all of a married couple’s assets. The trust agreement includes instructions for managing the assets during the married couple’s lifetime, during the incapacity of either or both spouses, and upon each spouse’s death.