Estate of Denial news clips (11/29/16)

Estate Tax Planning in the Trump Presidency

TheStreet.com

November 15, 2016

Fast repeal. That is what candidate Donald Trump repeatedly promised in regard to the federal estate tax aka the death tax. On his website, Trump minced no words: “The Trump Plan will repeal the death tax.”

That means both estate planners and their wealthy clients are now aflutter, trying to decide what their best steps are.

 

Tom Benson lawsuit settlement first announced this summer is close to being finalized, attorneys say (TX/LA)

The New Orleans Advocate

November 16, 2016

Attorneys on both sides of the lawsuit pitting Saints owner Tom Benson against the officials overseeing a group of trust funds for his estranged relatives believe they are close to finalizing a settlement first heralded this summer, according to court records filed Wednesday.

The case is scheduled to be tried at the federal courthouse in New Orleans on Feb. 6, but an agreement that would render the trial moot should be “completed in the near future,” according to documents prepared by lawyers representing both Benson and the trustees.

 

When wills go bad: ‘It was the cruellest thing you could imagine’ (UK)

The Guardian

November 19, 2016

Two years ago, my partner and I finally wrote proper wills. The basic instructions for guardianship of our young children, written years before, were no longer fit-for-purpose. We were prompted by Will Aid, a charitable scheme that runs every November. It was hard to resist its logic: it is irresponsible not to sort out your affairs and, doing it this way, solicitors waive their fees and instead you make a charitable donation. This was compelling, but it was surprisingly hard to get round to doing, which might explain why half the UK population don’t have valid wills.

Part of my reluctance, including superstitions that disaster would follow my writing it, was typical, according to Will Aid’s research. But my partner and I had also had experiences of wills stirring up uncomfortable emotions. My father, with no property to dispense, bequeathed me his chaotic stamp collection. It reminded me of his last, sad years and I hid it away until finally disposing of it. Badly. For years, I felt I’d let him down. My partner’s experience was more pointed – an unsatisfactory letter from his mother explaining her decision to leave her house to stepchildren and grandchildren rather than her sons.

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