Expert Counsel. Exceptional Solutions.

+1 (916) 822-8700

Expert Counsel. Exceptional Solutions.

+1 (916) 822-8700

News & Analysis
Latest legal news and recent law changes.

News & Analysis

Burton Law Firm analyzes recent legal news and emerging trends

Trustee’s Duties to Beneficiaries After the Death or Incapacity of the Settlor of a Revocable Trust

The settlor (also called “trustor”) of a revocable trust has the authority to change or cancel the trust’s provisions. The settlor can also assign other trustees to help manage the trust. For a revocable trust, the trustee normally only owes duties to the settlor who is able to revoke the trust. However, the ability of the settlor to revoke the trust can be terminated

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Trust Portability Election Extended to Five years

In Rev. Proc. 2022-32, the IRS has made a major announcement advising that portability elections for a Deceased Spousal Unused Exclusion (“DSUE”) are extended to five (5) years [see IRS] after the date of death, vastly expanding the previous deadline of nine (9) months [Former Guidance].

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