WILLIAMSBURG, Va., Feb. 13, 2018 /PRNewswire/ -- As baby boomers
continue to age, the pace of estate litigation is accelerating,
according to Will Sleeth, a partner
in national law firm LeClairRyan's Williamsburg office and leader of the firm's
Estate and Trust Litigation team.
"Changes in the federal estate tax have grabbed many of the
headlines, but I expect four other estate litigation trends will
move to the forefront in 2018," says Sleeth, who highlights some
likely developments in a blog, 4 Estate Litigation Predictions
For 2018.
Estate Litigation Volume: "We are very likely to see an
increase in the volume of estate litigation in 2018," writes Sleeth
in the post that appears in the firm's Estate Conflicts
blog, which focuses on disputes involving wills, trusts,
guardianships, and celebrity estates. One reason is the aging of
our society; and with more money being passed down, "there's much
more to fight over than at any time in the past," he observes.
Binding Arbitration Clause Litigation: Sleeth foresees an
increase in litigation of certain wills and trusts, particularly
ones that try to resolve disputes by shackling beneficiaries with
mandatory binding arbitration clauses. "I generally think those
provisions are counterproductive, as they can minimize the
potential consequences of fiduciary misconduct and can increase the
financial and legal burdens on disadvantaged beneficiaries," he
writes.
No Contest Clauses: The scope and breadth of "no contest
clauses" will continue to expand, Sleeth says. More estate planning
attorneys are drafting broad clauses that aim to control challenges
to beneficiary designations or joint-account designations, and
other activity like claims for breach of fiduciary duty against a
trustee or executor.
"As more trusts and wills are litigated with increasingly broad
(and novel) no contest clause provisions, we can expect states to
make an array of new case law regarding the extent to which broad
no contest clauses will be enforced," Sleeth writes in the
blog.
Default and Mandatory Rules: "Estate planning attorneys
occasionally seek to limit a trustee's duties or liability in a
manner that could arguably conflict with one or more of the default
duties under the Uniform Trust Code," he writes. "Given that many
states have adopted the Uniform Trust Code—or a modified
version—within the past decade or so, there is not much case law
that governs when and to what degree the default rules will prevail
over certain terms of a trust that seek to limit a trustee's duties
or liability in various scenarios. We can expect to see a sizeable
amount of litigation on this subject in both 2018 and the years to
follow."
For now, he says, anyone with a sizable estate may wish to
periodically review their will and/or trust with legal counsel to
ensure it's compliant with current laws. "Taking this action now
may offer peace of mind, knowing that your estate is more likely to
be administered in accordance with your wishes," he concludes.
The full column is available at:
https://estateconflicts.com/4-estate-litigation-predictions-for-2018/#more-1072
About LeClairRyan
As a trusted advisor, LeClairRyan provides business counsel and
client representation in corporate law and litigation. In this
role, the firm applies its knowledge, insight and skill to help
clients achieve their business objectives while managing and
minimizing their legal risks, difficulties and expenses. With
offices from coast to coast, the firm represents a wide variety of
clients nationwide. For more information about LeClairRyan, visit
www.leclairryan.com.
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