New Rules in California for No-Contest Clauses

Posted by Keith Codron | Jan 12, 2010 | 0 Comments

Effective January 1, 2010, the rules in California regarding no-contest clauses have dramatically changed, severely limiting their enforceability in wills and trusts, and doing away with the old declaratory relief procedure (commonly known as a "safe harbor petition") available under prior law t...

Taxation of Employer-Owned Life Insurance

Posted by Keith Codron | Dec 11, 2009 | 0 Comments

Life insurance proceeds are generally received by the beneficiary free of income tax. However, as part of the Pension Protection Act of 2006 ["PPA 2006"] , proceeds from employer-owned life insurance ["EOLI"] contracts issued after August 17, 2006, are taxable to the beneficiary as ordinary incom...

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