THE PAST YEAR’S MOST SIGNIFICANT, CURIOUS, OR DOWNRIGHT FASCINATING FIDUCIARY CASES (2018 Edition) * *At least it seems to me. Your mileage may vary. Dana G. Fitzsimons Jr. Principal and Fiduciary Counsel, Bessemer Trust 3455 Peachtree Road, N.E., Suite 850, Atlanta, Georgia 30326 Phone: (404) 965-9318
[email protected] SUPPLEMENT CONTENTS I. ELDER ABUSE, POWERS OF ATTORNEY, GUARDIANSHIP, SPECIAL NEEDS & DISABILITY .................................................................................................................. 4 A. Colburn v. Cooper, 2018 Ohio 5190 (2018). Daughter has standing under UPOAA to petition court for accounting of acts of agent under durable power of attorney, even after the death of the principal. ...................................................................................................... 4 II. STATE NEXUS & TAXATION ....................................................................................... 5 A. Estate of Chernowitz, 2018 N.J. Tax Unpub. LEXIS 63 (2018). Estate failed to rebut the presumption that gift within three years of death is subject to state inheritance taxes. ........ 5 III. BUSINESS INTERESTS ................................................................................................... 6 IV. INVESTMENTS................................................................................................................. 6 V. DISTRIBUTIONS & DISBURSEMENTS ...................................................................... 6 VI. ESTATE & TRUST ACCOUNT CLOSINGS ...............................................................