From the issuance of the Internal Revenue Service’s Priority Guidance Plan to new COVID-19 relief legislation, we have seen some significant developments in estate planning and business law. To ensure that you stay abreast of these legal changes, we have highlighted a few noteworthy developments and analyzed how they may impact your estate planning and business law practice.
Current Developments in Estate Planning and Business Law: January 2021
By WealthCounsel Staff on Jan 15, 2021 10:00:00 AM
Current Developments in Estate Planning and Business Law: December 2020
By WealthCounsel Staff on Dec 11, 2020 10:00:00 AM
From changes in the tax assessments of inherited property in California to new Paycheck Protection Program (PPP) guidance regarding the nondeductibility of expenses paid by PPP loans, we have recently seen significant developments in estate planning and business law. To ensure that you stay abreast of these legal changes, we have highlighted some noteworthy developments and analyzed how they may impact your estate planning and business law practice.
Lawyers in the Middle: Between Trustees and Beneficiaries, to Whom is Owed the Duty of Confidentiality?
By Anita Schnee, JD on Dec 8, 2020 10:59:00 AM
Suppose you are hired by a trustee or executor to assist in trust or estate administration. Then a beneficiary calls you, wanting information about what the trustee or executor is up to.
This poses a dilemma. How much information are beneficiaries entitled to? The issue rests on the chassis of attorney-client confidentiality. Where attorneys have a relationship with fiduciaries; and the fiduciaries, in their turn, owe a duty to beneficiaries; how far does the attorney-client privilege extend?
Some jurisdictions have adopted a doctrine known as the “fiduciary exception” to the attorney-client privilege. This holds that beneficiaries have the right to disclosure of legal advice as it relates to fiduciaries’ conduct in administering their fiduciary duties.