Dealing with a malpractice claim can be very stressful and take a lot of time away from your business and clients. In addition to lost revenue, you may have to pay a settlement, court costs, and your own attorney’s fees. Your reputation as a lawyer could also suffer permanent damage.
If you are an estate planner, chances are you practice in a separate property (or common law) state. After all, there are only nine community property states. But that does not mean that community property will not appear on your radar.
I do, or I don’t – can a Settlor dictate how a beneficiary’s share is distributed based on the beneficiary’s marital status? Or, is such a trust provision void as a matter of public policy as an unlawful constraint on marriage? In a new case, the Indiana Supreme Court ruled that the Settlor can make such a trust provision and it will be upheld.