By Scott E. Rahn and Meagan A. Paisley In 2006, Taylor Swift burst onto the music scene with her breakout country single, Tim McGraw. Nearly 20 years, 10 albums, and 51 million record sales later[1], she has become a household name. Taylor Swift is also no stranger to the legal field. From her sexual assault …
Litigants are still finding new applications for California’s powerful (and sometimes infamous) anti-SLAPP statute in civil matters, and as evidenced by the recently resolved Starr v. Ashbrook, probate courts are no exception. The case revolved around a contentious estate battle between the children of a 90-year-old Laguna Beach man and his girlfriend and trustee. The …
The Abuse of Anti-SLAPP Motions in Probate and Civil Matters Read More »
Inheriting a valuable piece of art can feel like a fantastic gift. But if you’ve recently inherited a loved one’s art collection, you may be wondering what happens when it comes to taxes. In general, you will not have to pay taxes on art you inherit from a loved one. However, if you sell the …
It is possible to inherit a family business. In fact, family businesses are often passed down from generation to generation through a will, a business succession plan, or other estate planning mechanisms. However, the specific process and requirements for inheriting a family business can vary depending on the laws of the jurisdiction in which the …
Winning the lottery gives a lucky person access to substantial financial resources that can help them achieve their goals in life. But what happens when a lottery winner passes away? The answer largely depends on the state where the winner lives and how they choose to receive their winnings. Most lotteries allow winners to choose …
Inheriting property can be a complex process, with numerous factors to consider. Before you decide whether to keep, donate, or sell your inherited property, it’s important to understand the fair market value of the asset, which is its estimated worth on the open market. Is Fair Market Value Calculated at the Time of Death? Yes, …
What Is the Fair Market Value of Inherited Property? Read More »
If you have inherited jewelry, there are several options you can consider. Ultimately, the decision of what to do with inherited jewelry depends on your personal preferences and financial needs. For instance, jewelry in good condition can be worn and become part of your wardrobe. Likewise, if the jewelry has sentimental value, you may choose …
Whether you can sell stocks in a trust after death generally depends on the specific terms and conditions of the trust and the laws of the jurisdiction in which the trust was established. If the trust agreement allows for the sale of stocks, the trustee can sell the stocks as directed by the trust agreement. …
If you recently inherited a large sum of money, you may be wondering what your next steps should be. Coming into millions of dollars can be life-changing, but it can also result in new and unexpected financial obligations. That’s why it’s crucial to carefully consider the implications of your actions before making any decisions about …
What Do You Do If You Inherit Millions of Dollars? Read More »
If you have a valid legal claim against a deceased person, you may still be able to receive compensation by filing a lawsuit against the deceased person’s estate. However, you will typically need to direct your efforts at the estate rather than the individual heirs. Under California Probate Code §9050 and §9051, the personal representative …
A trustee is a fiduciary, which means that they have a legal duty to act in the best interests of the trust’s beneficiaries. A “breach of trust” occurs when a trustee violates their fiduciary duties. In general, trustees have a duty to act in the best interests of the beneficiaries, to manage the trust property …
A fiduciary duty is a legal obligation that one party has to another to act in their best interests. This duty is typically seen in relationships where there is a power imbalance, such as between the trustee and beneficiaries of a trust or an executor and the beneficiaries of an estate. When acting as a …