An agent acting under a power of attorney can revoke an existing trust created by the principal and transfer assets to a new trust, a New Jersey Chancery Court has held.
Mildred Quick Muller created a revocable trust that was amended and restated in 1998. JP Morgan Chase was the trustee. In 2010, at age…
As we have previously advised our clients, there is a $5 million gifting exemption per person that is available under the current law through December 31, 2012. It is unclear at this point as to whether this benefit will ultimately be extended or eliminated. Because of that, we are recommending that our clients look seriously…
One issue often overlooked by divorce attorneys as well as their clients is the payment of child support when the couple has a child with special needs. Child support, although paid directly to a spouse, is considered to be an asset of the child for purposes of determining eligibility for means-tested governmental programs. To avoid…
