The 7520 rate for February 2017 has increased to 2.6%.
The February 2017 Applicable Federal Interest Rates can be found here.
It’s a new year and with it comes many resolutions. Each year, a popular resolution is to be more forgiving or to forgive someone who wronged you. Apparently, trying to get a head start on its resolutions, on December 30, the Georgia Court of Appeals entered its opinion in In re: Estate of James Lynn Hill. What does this have to do with forgiveness? Remember that time we said that “in Georgia, the time to file a caveat may be short and unforgiving?” Well, some forgiveness may be available.
An executrix filed a petition to probate a will. Notice was sent to an heir informing him of the deadline to object. The heir filed a caveat, but did so over a month late. Under In re: Estate of Loyd, this should be the end of it,
What he wants to accomplish vs. what he needs to accomplish…
As the United States rings in a New Year, it also welcomes a new president. All eyes are trained on Washington in anticipation of what President-elect Donald Trump will tackle in his first 100 days in office. Trump’s initial success will depend on how well he defines his own agenda and how he navigates the difference in details between his goals and the policy priorities of Congressional Republicans. Trump will also need to divide his political capital between the things his administration wants to do versus what it needs to do in the New Year.
Whether a plaintiff needs an expert witness in a breach of fiduciary duty case to testify on the standard of care is a frequently debated topic. In Heisinger v. Cleary, the Supreme Court of Connecticut weighed in on one side of that debate when it determined that no expert testimony was appropriate on the standard of care applicable to executors who seek professional advice to value the assets of an estate for preparation of estate tax returns.
A plaintiff brought claims that the executors of an estate breached their fiduciary duties to him, the decedent’s sole heir and the only beneficiary of a trust established under the decedent’s will, by, among other things, failing to supervise the work of others. More specifically, the plaintiff claimed that the appraisers hired by the executors overvalued stock that led to an excessive assessment of estate taxes.
On February 13, 2016, Doug Stanley, partner in the Private Client Services group at Bryan Cave, and Justin Flach of The Commerce Trust Company (an alumnus of the Bryan Cave Private Client Services group), will present “Creating A Living Legacy”, addressing estate planning basics to a group of artists. The presentation is hosted by the Volunteer Lawyers and Accountants for the Arts and will be held at the Regional Arts Commission, 6128 Delmar, St. Louis, Missouri.