Professor Paul L. Caron of the University of Cincinnati College of Law has written an article called “Ten Estate Planning Advantages of Limited Liability Companies.”  The abstract says: In the eight years since the Service blessed the Wyoming limited liability company (LLC) statute, there has been an explosion of interest in LLCs, which are now available in 48 states and the District of Columbia (with Hawaii and Vermont the lone holdouts). . . . Although much has been written of the uses of LLCs in tax and business planning, comparatively little commentary has focused on the role of LLCs in estate planning. The LLC treatises generally devote little attention to estate planning issues, and there have only been a few estate planning articles that discuss

The Portland Press Herald:  “The tales are legion, and usually involve bitter siblings and inexplicable attachments to objects. . . . The squabbling siblings who spent three years and $15,000 battling over a few hundred dollars worth of JC Penney and Kmart knickknacks. . . . Talk with enough estate planning attorneys and you hear the distressing, sorry sagas resulting from no — or poor — estate planning.”

For people concerned about the uncertainty of federal estate tax law, NPR has a “There May Be A Tax Upside To Dying In 2010.”

The New York Times has an interesting article about author Samuel L. Clemens' (pen name Mark Twain) last will and testament.  He left his entire estate to his only living daughter – the other daughter died before Mr. Clemens.

Forbes:  “First the family of Norman F. Levy . . . was swindled out of hundreds of millions of dollars by . . . Bernard L. Madoff . . . . Then Levy heirs coughed up $220 million to the Madoff bankruptcy trustee to repay personal withdrawals made before Madoff's Ponzi fraud collapsed in 2008.  Now, adding insult to injury, the unlucky clan is fighting a $61 million estate tax bill from the Internal Revenue Service.”

The Phoenix New Times has a lengthy story on Arizona attorney Grant Goodman, his background and the three lawsuits he filed on behalf of people he claims were ripped off by attorneys and other people.  The alleged “victims” Mr. Goodman filed lawsuits for are Edward Ravenscroft (a millionaire who had drug and mental problems), Marie Long (her $1,3 million in assets quickly evaporated leaving her destitute) and Helga Mallet (her $1 million was gone in a year).  Goodman voluntarily dismissed the three lawsuits, but says he will refile them.

Business Week:  “Sure, heirs of the ultra-rich who die this year will get a break on estate taxes, but they could wind up paying even more in taxes on capital gains. . . . While heirs of the ultra-rich who die this year may enjoy an estate tax break (17,172 taxable estate tax returns were filed in 2008, according to IRS data), this gap year is having an unintended consequence.  Far larger numbers of affluent families who suffer deaths this year could wind up paying stiff capital-gains taxes on inheritances.”

Nevada News & Views:  “After more than a decade winding through every crevice of our nation’s legal system, it appears that Marshall v. Marshall – the famous case involving Anna Nicole Smith and her late husband’s estate – is finally drawing to a close. . . . So, after fifteen years of litigation, the clocks were wound all the way back to a decision that came almost ten years ago. Why, then, did the case go on for so long?”

Arizona Republic:  “A [Maricopa County] Superior Court judge has ruled that a phalanx of probate attorneys were justified in collecting $576,000 from an 88-year-old widow the court was (supposed to be) protecting.  The judge rubber-stamped half of the fees without even holding a hearing into whether they were reasonable. . . . [The ruling was in] the astounding case of Marie Long, an old lady worth $1.3 million when she came under the protection of Maricopa County's probate court in 2005. Today, she's destitute and depends on taxpayers for support.” See also “Probate court asked to sanction attorneys in Marie Long case.”

The Probate Lawyer Blog:  “Given MJ's eccentricities in life, and the craziness that has surrounded his estate since he died, it is no surprise that Michael Jackson's estate executors are busy denying wild claims left and right.”

Forbes:  “Worst case for wealth transfer: a $1 million exemption, plus a crackdown on planning techniques [such as GRATs].  Next year many more families may need to worry about federal estate tax and at the same time could have fewer ways to minimize its bite. . . .Some of the changes that could take place next year are already built into the law. Others could emerge through a revenue-driven form of creeping estate tax reform . . . .”

The Probate Lawyer Blog reports that Steve McNair's widow, Mechelle McNair, is asking a court for permission to withdraw $3.72 million from frozen assets to pay the estate's estimated federal estate taxes.  Steve died without a will or an estate plan that would have protected his family.  Had Steve created a revocable living trust that provided for estate tax planning, his estate and family could have avoided all federal estate taxes until the death of his widow.  What a shame.  Not only does Mechelle lose her husband, but she and her children lose a minimum of $3.72 million that could easily have been deferred for perhaps decades. This is a perfect example of why people need an estate plan – to protect their family in

A  Motley Fool article discusses steps you should take now to protect valuables in case your home is destroyed.

For an excellent discussion of the recent history of the federal estate tax, where it is today and where it may go in the future, see the Columbia Law School Magazine article by Daniel Gross called “The Estate Tax Mess.” “The so-called ‘death tax' on estate transfers was repealed at the start of 2010 but is scheduled to spring back to life in January.  The 12-month window for tax-free estate gifts raises some interesting questions—and a whole host of hypotheticals.  Billions are at stake, but uncertainty reigns. What is going on?”

New York Times:  “By the time she was 38, Dr. Desiree Pardi had become a leading practitioner in palliative care, one of the fastest-growing fields in medicine, counseling terminally ill patients on their choices. . . . Over the last decade, palliative care has become standard practice in hospitals across the country.  Born out of a backlash against the highly medicalized death that had become prevalent in American hospitals, it stresses the relief of pain; thinking realistically about goals; and recognizing that, after a certain point, aggressive treatment may prevent patients from enjoying what life they had left.”

Wall St. Journal:  “Should you give away your nest egg to your heirs—and then stick Medicaid with your nursing-home tab when the time comes?  Outrageous though it might seem, it is a perfectly legal estate-planning strategy.”

New York Times:  “NO one wants to think about dying.  But refusing to look at the documents that will determine where your money goes when you pass away will not make you live longer. It will just make sorting through everything more difficult for your heirs.  Any review of financial health needs to take into account the legal documents that govern our assets and our lives, if we become incapacitated or die with minor children.”

The Deloughery Law Office, P.C., issued a press release called “Making Estate Planning a Family Affair” that starts, “While you may want to keep the contents of your will and other estate planning documents private, there are several advantages to sharing them with your family.”

Joanna Grossman, a professor of law at Hofstra University, wrote an article that explains the history of Anna Nicole Smith's fifteen year lawsuit against her former billionaire husband and why her daughter Dannielynn will not get any money from the billionaire's estate.