This is urgent, for any executors of the estates of decedents dying after 12/31/2010: even if the estate is less than the $5,000,000 exclusion amount for estate tax, you still must file a 706 return in order to allow the decedent’s surviving spouse to make use of the deceased spouse’s unused exclusion amount (DSUEA), called “portability” of exclusion. See IRS Notice 2011-82 here.
Archive for September, 2011|Monthly archive page
Executors Must File 706 to Preserve Portability!
In Probate & Trust Admin on September 30, 2011 at 5:02 pmLegalZoom Scores Poorly in Consumer Reports Test
In Living Trust, Online Preparers on September 28, 2011 at 12:59 amLegalZoom scored poorly, along with two other DIY alternatives (Rocket Lawyer and Quicken WillMaker Plus), in a Consumer Reports test of common fact patterns for estate planning (story here). Even in a relatively simple nuclear family situation, LegalZoom was deemed inadequate. All three products were deemed inadequate for the blended family situation tested, and LegalZoom in particular was criticized for multiple defects, including several criticisms regarding its “Legal Advantage” program which is supposed to provide some sort of attorney support. Nor did any of these products fare well in the “single with partner” fact setting tested.
Trust Arbitration Clause Held Not Enforceable Against Non-Signatories
In Living Trust on September 26, 2011 at 3:24 pmA recent California Appellate opinion, Diaz v. Bukey, held that arbitration clauses in trusts are not enforceable against non-signatories to the trust. The court held that since neither of them were parties to the trust document, the arbitration clause could not be enforced.
Now THIS is a Living Will
In Health Planning on September 15, 2011 at 7:02 amBritish woman tattoos “Do Not Resuscitate” on her chest. Story here.
