The decision in Bonfigli v. Strachan (Feb. 24, 2011) 2011 DJDAR 2893 is a reminder not to press for advantage when using a power of attorney. The defendant was a developer who used a power of attorney to reconfigure two parcels so that he got to keep the land, but did not have to pay [...]
The recent decision in Kucker v. Kucker focused on a narrow issue. Is a general assignment of assets valid for transfer of stock into an estate planning trust? The court answered in the affirmative, but not before confronting the statute of frauds. And not before stating an important distinction regarding real property. The facts were [...]
In a recent bankruptcy case, the Ninth Circuit held that a transfer to a trust could be set aside years after the transfer was made. In In re Schwarzkopf (9th Cir Nov. 23, 2010) ___ F.3d ___, the court held that, because the transfer was a fraud on creditors at the time it was made, [...]
In the recent decision in Citizens Business Bank v. Carrano (Nov. 05, 2010), the court sensibly applied the rules for construing a will to the interpretation of an estate planning trust. This is an appropriate result, considering that the trust was intended to serve as a substitute for will. However, the law authorizing such a [...]
The recent decision in Lickter v. Lickter (Oct. 27, 2010) — Cal.Rptr.3d —-, 2010 WL 4231300 highlights of three important points. First, a trust beneficiary does not have standing to pursue a claim on behalf of the trust after the beneficiary has received his or her distribution pursuant to the trust. This may seem like [...]
Some estate plans make use of a “five-or-five” provision to help reduce the estate tax. In the recent decision in Estate of Cairns (Sept. 15, 2010) 188 Cal.App.4th 937, the court had to interpret such a five-or-five provision many years after the death of the testator. As the court explained, “Margaret Cairns executed a will [...]
Here’s a recent case in which the result cannot be what the decedent intended. As a starting point, let’s discuss the law of wills. When a distribution is made by will (or by intestate succession), the gift is effected at the time of death. Absent a disclaimer, the recipient and his or her heirs are [...]
Conventional wisdom is that a safe deposit box is a safe place to store valuable belongings. And that’s true, as long as the owner keeps track of the contents of the safe deposit box. Yet, I have handled a case in which a bank denied, in writing, the existence of a safe deposit box in [...]
It’s remarkable how persons come out of the woodwork after a relative’s death, claiming that they should get a share of the decedent’s estate. Especially when the decedent left money to someone not related by blood who helped care for the person in his or her declining years. In this case, the wicked step-daughter. The [...]
California provides a one-year statute of limitations for claims against a deceased person. If a claim exists against a person as of the time of that person’s death, an action based on such claim must be filed within one year after death or forever be barred. Caveat – This rule assumes that the claim existed [...]