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September 2019 Archives

Gun License Reciprocity: Concealed Carry Laws Also Apply to Gun Trust Firearms

Americans are afforded the right to bear arms by the Second Amendment of the US Constitution. However, interpretations of the Amendment vary. And, until federal lawmakers pass national reciprocity legislation, gun owners must follow a patchwork of state laws on possessing and carrying firearms. Because regulations vary so widely, gun owners who are traveling across state lines must be aware of gun license reciprocity and concealed carry laws in states they plan to traverse or visit.

Will Ancillary Probate Issues Affect You?

The term "probate" is not so unfamiliar--it conjures up thoughts of will administration, will contests, and sometimes mounds of paperwork. Probate assets are those that have no built-in survivorship feature, so it is up to a probate court to determine the proper disposition of those assets through a valid will or the laws of intestacy. But uncertainty can arise when a decedent dies while owning property that is located out-of-state. Regular probate or "domiciliary probate" proceedings take place in the decedent's domicile or state of residence for the property located in that state, but what does an attorney do about the property located elsewhere? Such cases may require the opening of a separate probate estate for ancillary probate proceedings.

State Taxation of Trust Income: The US Supreme Court Has Spoken

Little did Joseph Lee Rice III know that, way back in 1992, when he created the Kimberley Rice Kaestner 1992 Family Trust, his descendants (the trust beneficiaries) would find themselves making claims before the Supreme Court of the United States someday; yet, some 27 years later, that is exactly the taxing situation in which the trust, the trustee, and the trust beneficiaries find themselves.

DAP Trusts: Asset Protection for Frequently Sued Occupations

Estate planning can be a complicated and confusing process. Part of estate planning is protecting your assets during your lifetime, for your own continuing support as well as to provide for your loved ones after you die. There are many options for asset protection for frequently sued occupations. One is the creation of a domestic asset protection trust (DAP trust).
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