Gullett Sanford Robinson & Martin PLLC
We have all been witness to the probate headache accompanying the unfortunate death of the late musical mastermind, Prince, as the result of his passing without a will. While the process has taken over a year, in early May, Judge Eide ruled that Prince’s sister and five-half siblings were the heirs to his multi-million dollar estate. Underlying issues, however, remain unresolved.
DetailsTennessee does not currently have a statute which directly addresses the execution and validity of electronic wills. The formal recognition of electronic wills, however, may be coming.
DetailsThe Supreme Court of Tennessee recently released an opinion in Bryant v. Bryant that, although two people have expressly created a joint tenancy with a right of survivorship, the survivorship interests of the joint tenants may be severed by the unilateral action of one joint tenant, and that doing so converts the estate into a tenancy in common.
DetailsIn a recent press release, dated March 8, 2017, the Chamber of Digital Commerce and Steptoe & Johnson LLP jointly announced the formation of the Digital Assets Tax Policy Coalition (“the Coalition”). Made in response to a lack of guidance from the Internal Revenue Service regarding the tax treatment of digital currencies, the Coalition aims to “help develop effective and efficient tax policies for the growing virtual currency markets.”
DetailsTrusts can be used for different purposes, including probate avoidance and asset protection. We are often asked about how and when to fund a trust.
DetailsWith tax season well underway, the IRS recently released guidance on recent developments pertaining to the estate tax and generation-skipping transfer (GST) tax.
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