Educational FYI's

Educational FYI's are written on topics that effect various aspects of estate planning and the laws that govern it. They are published and posted to this site when news worthy events happen that we feel you should be made aware of. The purpose of an Estate Planning Update is to bring important information to the financial advisors in the community. Our hope is that this information better equips you to assist your clients.

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Sterling & Tucker releases important estate planning and related articles when there are changes in the law that we feel have an especially large impact. Please take a moment to register to receive full access to our Educational FYIs.


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Guardianship Court Lacks Authority to Compel Trustee to Pay Deceased Ward's Debts - Guardianship of Gneiser

Prior to establishment of a guardianship, a ward had signed and funded a revocable living trust.  Prior to her death, the guardianship court had authorized the trustee to sell her home, and directed that the proceeds be held in the trustee's attorney's trust account.  After the ward's death, the trustee sought and gained court approval to pay burial expenses, but when the trustee requested authority to pay the trustee's attorney (which would have exhausted the remaining proceeds), the guardianship court refused and directed instead that the trustee pay fees to the guardian and the guardian's attorney, plus previously unpaid court fees associated with the guardianship.  The trustee appealed, and the Florida Court of Appeal reversed and remanded for further proceedings.

READ MORE Read the eFYI titled: Guardianship Court Lacks Authority to Compel Trustee to Pay Deceased Ward's Debts - Guardianship of Gneiser

Medicaid Planning Numbers for 2004

The Center for Medicare and Medicaid Services (CMS) has released the following figures for 2004 Medicaid planning purposes.

READ MORE Read the eFYI titled: Medicaid Planning Numbers for 2004

IRS Announces Pension Plan Limitations for 2004

Many of the pension plan limitations will change for 2004.  For most of the limitations, the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment.  Furthermore, several limitations, set by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), are scheduled to increase at the beginning of 2004.

READ MORE Read the eFYI titled: IRS Announces Pension Plan Limitations for 2004


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