Must a Trust Accounting be Provided to Beneficiaries?

By Jill Roamer, JD, CIPP/US on Jan 25, 2023 8:41:00 AM

Must a Trust Accounting be Provided to Beneficiaries_

Some trust beneficiaries may feel left in the dark about the terms of their trust and the amount of property in their trust. Whether or not the trustee has a duty to provide the trust document or a trust accounting to the beneficiaries of an irrevocable trust is a matter of state law. But what happens when the terms of the trust conflict with state law?

This issue was recently litigated in Nevada.

Topics: legal news
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Spousal Support Order Deemed Improper

By Jill Roamer, JD, CIPP/US on Jan 20, 2023 12:56:00 PM

Spousal Support Order Deemed Improper

In order to keep a community spouse from being impoverished when their partner enters a nursing home, federal laws allow the community spouse to keep a certain amount of assets and income. The amount of assets the community spouse is allowed to keep is termed the community spouse resource allowance (CSRA). The amount of income the community spouse is allowed to keep is called the minimum monthly maintenance needs allowance (MMMNA).

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Strategies for the 2023 Increase in Estate and Gift Tax Exclusion Amounts

By WealthCounsel Staff on Jan 20, 2023 10:00:00 AM

2023 Estate and Gift Tax Exclusion-Blog

Rising inflation has led the US government to increase the estate and gift tax exclusion amounts for 2023. This is a perfect time for estate planning attorneys to talk to their clients about taking advantage of innovative strategies, while keeping an eye on larger changes that are coming at the end of 2025. Keep reading to learn the new amounts and ideas to help your clients. 

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