Last night, Congress passed the Middle Class Tax Relief Act of 2010, and it is anticipated that President Obama will sign this significant piece of legislation into law today. Its effects will include sweeping changes to the federal estate and gift tax. Jordan S. Linn provides a summary of those portions of the bill our most recent entry.
Continue Reading Farrell Fritz Estate and Gift Tax Alert: Breaking News
Exception to the American Rule: Shifting Objectants’ Legal Fees to the Surcharged Fiduciary
The American Rule provides that each party to a litigation generally remains responsible for his own legal expenses regardless of who prevails. In Matter of Lasdon, Surrogate Glen of New York County explained the few and narrow exceptions to that Rule, one of which pertains to cases of fiduciary misconduct. Jaclene D’Agostino discusses the decision in our latest entry.
Continue Reading Exception to the American Rule: Shifting Objectants’ Legal Fees to the Surcharged Fiduciary