In this post, I provide a recent article from the brothers Blattmachr which appeared in  Leimberg Information Services Estate Planning Newsletter, getting down into the nitty-gritty about just how trusts can help us, and our families.  It’s worth a read. Disabilities of Beneficiaries Few, if any, attorneys would fail to recommend strongly that a client put his or her assets in trust for a family member who is under a legal disability, such as being a minor or being incompetent.  Giving or bequeathing assets outright to a minor or an incompetent is a recipe for disaster, resulting in maximizing court interference with the management of the property, reducing flexibility in the use and investment of the property for the benefit of the person for whom it […]

On September 29, 2016, a bill was signed into law by Governor Cuomo adding Article 13-A to the New York Estates Powers and Trust Law (the “EPTL”).  This legislation is New York State’s version of the “Uniform Fiduciary Access to Digital Assets Act” (the “Act”) which nineteen (19) other states have also enacted into law.  The Act is effective immediately. It is meant to provide certainty to all types of fiduciaries – including: trustees, executors, administrators, agents under a power of attorney and guardians – in their efforts to acquire access to digital assets.  They now have the authority to gain access to, manage, distribute and copy or delete digital assets.  The Act covers digital assets used for personal use and does not apply to […]