by Joel Roettger | Apr 28, 2017 | Estate Planning, Trusts
There are income tax consequences to transferring annuities for less than full and adequate consideration. If you are considering making a gift of annuities in trust, keep the following in mind: If an individual who holds an annuity contract transfers it without full...
by Joel Roettger | Apr 27, 2017 | Estate Planning, Trusts
An unassuming provision in the probate omnibus bill may prove to be a trap for some unwary practitioners. SB 0769, the 2017 Probate Omnibus Bill, has been transmitted to the Governor for his signature. One of the more perplexing provisions of the incipient law is...
by Joel Roettger | Apr 26, 2017 | Estate Planning, Probate, Trusts
The 2017 probate omnibus bill is notable not just for what it contains, but also for what it does not contain. The original version of the bill was HB 0567. It contained several sections that addressed the effect of divorce or annulment on an estate plan. Under...
by Joel Roettger | Apr 25, 2017 | Estate Planning, Probate
Every few years, the Tennessee legislature introduces an “omnibus” probate bill. These bills address a broad range of issues in the areas of wills, estates, and trusts. The most recent omnibus bill just cleared the Senate and House. A summary of the key...
by Joel Roettger | Apr 24, 2017 | Estate Planning, Probate
A recent case demonstrates the need to carefully consider how one drafts the residuary provisions of a will or trust. Article III of Decedent’s will left the “rest, residue, and remainder” of her estate to Sister, Nephew 1, Nephew 2, and Niece....
