United States: Trusts

When it comes to estate planning, even the rich and famous are not immune to costly mistakes. This examination of celebrity estate planning mishaps reveals how iconic figures have fallen victim to oversights leading to legal battles, unintended heirs, and millions in tax losses, offering valuable lessons for legal professionals and individuals alike.

Joshua S. Rubenstein of Katten's Private Wealth Department co-authored a chapter in the newly released third edition of the American Bar Association's comprehensive guide to international estate planning. The publication addresses the growing complexity of cross-border wealth management as families and assets increasingly span multiple jurisdictions. Written by leading international practitioners and tax professionals, the guide provides essential insights for lawyers, fiduciaries, family office professiona

Young athletes are earning significant income through NIL deals before turning professional, yet traditional financial advisory models introduce legal and estate planning too late in their careers. How can the sports industry better protect athletes' wealth by establishing coordinated advisory teams, trust structures, and comprehensive planning during the NIL era rather than waiting until after major contracts are signed?

In New Jersey, irrevocable trusts can sometimes be modified through a process called decanting, which allows trustees to transfer assets into a new trust with different terms. Understanding when decanting is available under common law, what discretion trustees must have, and what tax and fiduciary risks are involved is essential for anyone administering or benefiting from an irrevocable trust in the state.

High-net-worth individuals and private equity investors increasingly explore offshore trusts as sophisticated wealth planning tools that may provide enhanced asset protection, investment management flexibility, and multigenerational wealth preservation. Understanding the strategic benefits, tax implications, and compliance requirements of these complex structures is essential for entrepreneurs, executives, and families seeking to protect significant holdings while maintaining appropriate control and meeting

New York lacks a formal slayer statute but applies a common-law "slayer rule" established in the landmark 1889 case Riggs v Palmer, which prevents individuals from profiting through their own wrongdoing.

This comprehensive legal update covers critical developments in estate planning, tax law, and trust administration. From new IRS interest rates and fee increases to landmark court decisions on trust validity and marital property, practitioners will find essential guidance on navigating complex estate and trust matters in an evolving regulatory landscape.

As Treasury scrutinizes aggressive trust stacking strategies that multiply QSBS tax exclusions, venture-backed founders and investors face a critical window to optimize their tax planning. The article examines how this powerful wealth-building tool is evolving and what stakeholders need to consider before potential regulatory changes reshape the landscape.

Estate planning is the process of setting out advance instructions to prepare for your future incapacity or death. Every estate plan is unique because every individual’s family and circumstances are unique.