From new anti-clawback proposed regulations to pay transparency statutes, 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.

As attorneys, we are in a fiduciary role and must be honest and fair with our clients. Our clients trust us with their lives, their families, and their savings. Hopefully, you don’t need to be told to not steal money from your clients because it is obviously egregious. But when a case comes out about an attorney who lost his way, it can serve as a reminder to keep us on our ethical toes.

An attorney out of Salt Lake City, Mr. Curtis, was just sentenced to 97 months in federal prison and assessed with almost $13 million dollars in restitution. The prosecuting team initially had reached a plea deal with Mr. Curtis for 6 years in prison, but the judge rejected those terms as unreasonable. Mr. Curtis plead guilty to wire fraud and money laundering. The clients he was charged with committing these crimes against were elderly or disabled folks.

While there are many ways to change the terms of an irrevocable trust, decanting proves to be one of the most effective methods. An irrevocable trust does not necessarily mean that it is unchangeable, as the terms can be altered after it is poured (decanted like a bottle of wine) into a new trust. Trust decanting is a useful tool for estate planning attorneys who are striving to make a trust better fit the needs of the client. The authority to decant a trust can be included in the original trust, or it can stem from the decanting statutes in more than thirty states.