• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer

Nevada Business Magazine

The Decision Maker's Magazine

Subscribe Now!

  • Subscriptions
    • Print
    • Mobile App
    • Email
    • Nevada News & PR Wire
  • Features
    • New This Month
    • View Issues
    • Cover Stories
    • Feature Stories
    • Industry Focus
    • Building Nevada
    • Special Reports
    • Meet the Decision Maker
    • Press Release Wire
    • Nevada Industries
  • Departments
    • A Matter of Opinion
    • Around the State
    • Business Indicators
    • Commentary
    • Commercial RE Report
    • Crossfire
    • Expert Advice
    • Face to Face
    • Free Market Watch
    • Inside Politics
    • Power of Attorney
    • Profit & Loss
    • Speaking for Nevada
    • Tech.knowledge.me
    • The Last Word
    • Vital Signs
  • Planning Calendar
  • Advertising
    • Advertising Info
    • Advertising Staff
    • Submission Requirements
    • Online Advertising
  • Events
    • NBM Events
  • About
    • About the Magazine
    • Contact the Staff
  • Connect
    • Business Directory
    • Press Release Wire
    • Business Calendar
    • Submit Listing
    • Post Press Release
    • Add Your Event
    • Sign Up
    • Log In
You are here: Home / Departments / Legal Opinions / Trust & Estate Litigation No Longer Confined to Stiffs & Gifts

Trust & Estate Litigation No Longer Confined to Stiffs & Gifts

November 1, 2016 By Alexander LeVeque Leave a Comment

When such a business gets sued (or needs to sue), a trust and estate litigators is usually a better option than a general civil litigator.
Alexander G. LeVeque

By Alexander G. LeVeque, Partner, Solomon Dwiggins Freer, Ltd.

Over the years, my firm has represented scores of business owners who never imagined that they would need the services of a trust & estate litigation attorney, especially when no one had recently died. While it is common for business owners to retain attorneys for estate and business planning (and sometimes litigation counsel to handle garden-variety contract and employment claims), trust and estate litigation counsel is not a number typically saved on a contact list.

The fact of the matter, however, is that modern business planning (especially for closely-held family businesses) more often than not has a trust component. Family trusts and asset protection trusts are routinely used to hold ownership interests in businesses. Such planning is intended to create an extra layer of protection from creditors, to streamline succession, and also to minimize the chances of family feuds concerning the ownership and control of the business through the generations.

Nevada has wisely positioned itself to be attractive to entrepreneurs and high net worth individuals due to its business-friendly tax laws, absence of a personal income tax, and its strong asset protection laws. For these reasons, more and more businesses and trusts are being formed in Nevada. What results are hybridized business formation models which hold the assets and the control of the business in both a trust and a traditional legal entity like a limited-liability company. For example, the business could be formed as a limited-liability company with its sole member being a trust. In this common scenario, the business owner wears two hats: the first being the manager of the company, and the second being the trustee of the trust. With each hat comes distinct duties (e.g. duties of care, fiduciary duties, marital duties) owed to certain people or other entities. And to make matters more complex, the duties owed by the trustee to the trust could potentially conflict with the duties owed by the manager to the company’s owners, especially if the company is not wholly owned by the trust.

When such a business gets sued (or needs to sue), a trust and estate litigator is usually a better option than a general civil litigator.

Here are four reasons why:

First, trust and estate litigation is a different style of litigation. Notice and due process requirements are different than general civil litigation. If your attorney is not aware of these different requirements, you could miss a case dispositive deadline, for example a deadline to file a creditor’s claim. There are 38 chapters of the Nevada Revised Statutes (Chapters 132-167) dedicated to wills, trusts and estates.

Second, although there have recently been efforts made to codify more trust and estate law in Nevada, much of the law is still governed by the common law (law decided by judges), much of which is in the form of unpublished Supreme Court decisions or common law trends from other jurisdictions. What this means is that competency in the trust/estate area of law is achieved almost entirely by experience and keeping up with trends in the common law throughout all jurisdictions in the United States.

Third, competency in this area requires the ability to see the whole forest and not get confused by the trees. Trust and estate cases routinely touch upon other practice areas like tax, community property law, and fiduciary law. Practically every business dispute which concerns a trust has fiduciary duty issues. The fiduciary duties of a trustee of a trust are not identical to the duties of an officer, director or manager of a company. This is a common pitfall for business litigators. The business judgment rule, for example, may not be a valid defense to a claim against a trustee of a trust for a breach of fiduciary duty.

Fourth, settling a contested trust or estate matter almost always requires a tax analysis. Forgetting this important step could lead to adverse estate, gift and/or personal tax consequences.

The hope is that no business owner will ever have to consult with a trust & estate litigation attorney. However, if and when a dispute arises concerning your business and your business is owned and/or managed by a trust, an initial consult with a competent trust & estate litigation attorney is worth its weight in gold and could save you thousands of dollars in the long run.

Filed Under: Legal Opinions Tagged With: Alexander G. LeVeque, Solomon Dwiggins & Freer

Paul Krakovitz: Intermountain Healthcare

Edward Vance: EV&A Architects

Scott Arkills: Silver State Schools Credit Union

Terry Shirey: Nevada State Bank

Online Advertorials

Online Advertorials

SNWA’s Infrastructure InvestmentsHelp Secure Access to Water Supply

Bank of NevadaFunding Will Provide Nevada Students With Financial Literacy Education

Infrastructure InvestmentsAssure Our Community’s Water Future

Roseman’s College of MedicineAddressing the Physician Workforce Shortage

Advertise With Us

Advertise With Us. more details ►

Primary Sidebar

Get important updates from Nevada Business Magazine, directly to your inbox.
Subscribe

Wild at HeartEconomic Development in Rural Nevada

Industry FocusBankers

Residential NevadaMarket Shifts

Southern Nevada CCIMPassing the Torch to the Next Generation of Professionals

Nevada News & PR Wire

  • Kamer Zucker Abbott Elevates Kaitlin Paxton to Partner

  • KPS3 Hires Chelsea Bosco as Designer

  • Lipson Neilson’s Joseph Garin and Megan Thongkham Named 2022 Mountain States Super Lawyers

  • Open Enrollment for Upcoming Miss Silver State Pageant

  • Move 4 Less Recognizes Dream Home Art Contest Youth Winners with Party and Prizes

  • LumiZen Wellness Debuts Premier CBD Products for People and Pets Alike

  • Celebrate International Coworking Day at The Coop and Test Drive the Coworking Experience for Free!

  • aha! Reports Exceptional Operating Performance for July 2022

  • ioneer Signs Binding Lithium Offtake Agreement with Prime Planet Energy & Solutions

  • The Problem Solver Show to Interview Man Who Discovered Third Body in Lake Mead

  • Aug. 18 NAIOP Southern Nevada Breakfast Presents “The Future of the Las Vegas Strip Is Here”

  • Pilots Revealed for 2022 STIHL National Championship Air Races

  • Preparing for End of Life Workshop

  • Las Vegas Attorney Offers Free Workshop on Protecting Children’s Inheritance and More

  • CVMC Welcomes Lisa McKinney, APRN to Ironwood Primary Care

  • Realtor Nate Strager Releases Weekly Market Update as Part of His Information Campaign

  • Entertainment and Supper Club Summer Schedule at the Stirling Club Continues to Sizzle

  • Community Leader Don Snyder Elected Chairman of the United Way of Southern Nevada Board

  • Lexicon Bank Sponsors Scleroderma Sprint Event, Fueling Efforts For A Cure

  • Optum Care Cancer Care Adds a New Physician

  • Southwest Medical Adds Three New Healthcare Providers

  • International Celebrity Vocal Coach Romeo Johnson Offers Vocal Lessons To Clark County Residents

  • Team From The Problem Solver Show to Sponsor Free Ice Cream and T Shirt Give Away For Kids

  • Las Vegas Orthopedic Surgeon Offers New Treatment For Limb Lengthening

  • TSK Celebrates O’Brien Middle School Redesign Ribbon Cutting in Partnership With Cumming Group

  • Godspeed Capital-backed Huckabee Architects Invests in TSK Architects

  • Dunkin’ Presents $4,000 to Cure 4 The Kids Foundation From Funds Raised on Iced Coffee Day

  • Nevada Bankers Association Announces 2022-23 Board of Directors

  • Annie Wagner of KPS3 Earns Certificate in Principles of Public Relations

  • NAR Tabs Nevada REALTORS®­ Leaders to Serve in National Leadership Roles

  • Kamer Zucker Abbott Attorneys Selected to the 2022 Mountain States Super Lawyers® List

  • Kamer Zucker Abbott’s Next Webinar: Balancing Employee vs. Employer Rights in Divisive Times

  • Henderson Chamber of Commerce Announces 2022 Board of Directors Additions

  • De Castroverde Law Group and Findlay Subaru of Las Vegas Award $10,000 College Scholarship to Allison Hill

  • Karma and Luck Supports Ukraine Through Donation to Doctors Without Borders

  • Support Local Students and Teachers During the Greater Schools Supplies Drive

  • KPS3 Welcomes Lauren Davis to Team

  • Las Vegas-Based Neteffect Named a Top Firm by Clutch

  • Bank of Nevada Welcomes Michael Pizzi as Managing Director of Commercial Banking

  • Following Nevada Osha’s Adoption of Heat Guidelines, There Are Free Resources for Employers to Protect Employees From Heat-Related Illness and Injuries

  • aha! Launches 50% Off End of Summer Super Sale – Book Now!

  • Evolution of Healthcare with RESET IV

  • Mark Wiley Group Announces Buck Hujabre as New President of Commercial Division

  • Jim Seebock Announces Run for Henderson City Council Seat Ward One

  • WestCor Announces New Director of Marketing and Business Development

  • Home At Last™ by Nevada Rural Housing Launches New 4% Advantage Down Payment Assistance Option

  • Tilt-up construction is complete at Mountain West Industrial Park

  • Grow with Google Provides Nevada Small Businesses With Tools to Reach Customers in Changing Economy

  • Facebook Launches New “Feeds” Tab Connecting Users More Than Ever

  • Trosper Public Relations Announces New Hire in Northern Nevada

  • Emerald Island and Rainbow Club Casinos Partner With Local Woman-Owned Spirits Company to Offer ‘Super Premium Well’ Vodka

  • Greater Nevada Mortgage Provides Down Payment Assistance for Eligible First-Time Homebuyers

  • Education Non-Profit CORE Names Jordan Ashley Berkowitz as Development Director

  • ioneer Signs Binding Lithium Offtake Agreement with Ford

  • Two attorneys from De Castroverde Law Group honored as 2022 Mountain States Super Lawyers Rising Stars®

  • Grow With Google Provides Nevada Small Businesses With Tools to Reach Customers in Changing Economy

  • The NCJFCJ Recognizes the Honorable Linda Marie Bell As the 2022 Impact of the Year Recipient at Annual Justice Innovation Awards

  • Broadbent & Associates, Inc. Donates to Local Youth Hockey Team

  • Goodwill® of Southern Nevada Spreads Mid-Year Cheer with Second Annual ‘Christmas in July’ Event

  • CALVPresenting Sept. 21 Educational Symposium for Real Estate Pros Featuring Cyber Security Expert Frank Abagnale of “Catch Me if You Can” Fame

  • Goodwill® of Southern Nevada Promotes from Within

  • STIHL National Championship Air Races Participating in “A Community Thrives” Fundraising Initiative

  • Northcap Commercial Arranges Sale of Mark & Daisy Apartments for $3,800,000

  • MDX Labs Expands Operations to Include Saturdays, in Response to Clark County’s Elevated Level of COVID-19

  • Downtown Reno Partnership Announces Key Performance Indicators for Fiscal Year 2021-2022

  • Meruelo Family Scholarship Awards $12,500 to Children of Grand Sierra Resort Team Members

  • aha! Inaugurates Nonstop Flights From Reno-Tahoe to Santa Rosa

  • Helix Electric Raises Over $24,000 to Benefit Reno Charities

  • 20 Recent CCSD Grads Offered Apprenticeships at Tesla

  • REMSA Health announces promotion of four leaders within the organization

  • TEDx Speaker at NCET Biz Bite Luncheon in Reno

  • The National Council of Juvenile and Family Court Judges 85th Annual Conference Brings Participants to Northern Nevada From Across the Nation

  • Northcap Commercial Arranges Sale of 239 W. New York Ave Apartments for $1,015,000

  • LVR Announces Newly Elected Officers and Board Members for 2023

  • JA Worldwide Nominated for 2022 Nobel Peace Prize — Junior Achievement of Southern Nevada Celebrates Prestigious Honor —

  • aha! announces additional flying from Ontario, California to Reno-Tahoe for “Burners”

  • Optum Care Anesthesia adds two new health care providers

  • American Bar Association Appoints Lipson Neilson Shareholder Sandra D. Glazier as a Member of the Commission on Law and Aging

  • CALV President Angelina Scarcelli earns NAR leadership appointment

  • Pacific West Injury Law’s Attorney Visits Children At Sunrise Hospital As Mascot Blue Bear

  • SOUL FULL Sundays At The INDUSTRIAL

  • Serial Horse Killer Reward Goes To $10,000

  • Nevada Women’s Fund Receives $100,000 Award from SilverSummit HealthPlan

  • SILVERSUMMIT HEALTHPLAN AND COMPREHENSIVE CANCER CENTERS EXPAND PARTNERSHIP TO IMPROVE MEMBER ACCESS TO CARE

  • Yolanda Carapia of De Castroverde Law Group is awarded Nevada Justice Association Rising Star Award

  • Project 150 benefits from Game Show Boot Camp

  • Sip For Survivors – New SafeNest Coffee

  • The Downtown Vegas Alliance Elects 2022-2023 Officers and Board Members

  • July 21 NAIOP Southern Nevada breakfast presents “The Changing LANDscape: A Discussion on Land in Southern Nevada”

  • Real Estate Expert Nate Strager provides “Hope for Homeownership” With His New Information Campaign Regarding Housing Assistance Programs

  • WestCor CEO Recognized by Construction Financial Management Association

  • Nonprofit Hosting Education Drive to Support Youth Experiencing Homelessness Reach Their Educational Goals

  • FEA Consulting Engineers Welcomes New Team Members

  • Full Tilt Logistics Announces Massive Expansion of Nationwide Shipping, Warehousing and Distribution Business

  • Reno Housing Authority Welcomes New Executive Director

  • Moonridge Foundation Hosts 11th Annual Philanthropy Leaders Summit In-Person and Virtually on September 9

  • The Club at ArrowCreek Announces New Director of Agronomy

  • Jewish Nevada Announces Return of ‘Nevada Mission to Israel’ Program

  • Reno Direct Mail Printing Services Company, Reno Type, Expands with Additional Office Space

  • NVSAA Report Shows Reno Apartment Rents Still Rising, but More Slowly Than During 2021



 
Submit Your News & PR | Subscribe
Submit Your News & PR

Business Connection

Business Connection Portal

Log In Sign Up

Business Connection Portal

Log In Sign Up

Nevada Business Calendar

  • Kamer Zucker Abbott Webinar on Crossing the Line? Balancing Employee vs. Employer Rights in Divisive Times
    August 18, 2022 10:00 am

    More details...
  • Special Olympics Nevada Bowl for the Gold
    August 20, 2022 11:00 am

    Location: 1301 W Sunset Rd, Henderson, NV 89014, USA

    More details...
View Full Calendar ►

Nevada Business Directory

Featured Businesses
Find a Nevada-Based Business Submit Your Business Subscribe to the Nevada News & PR Wire

Nevada Industries

Architects & Engineers
Arts & Culture
Banking
Commercial Real Estate
Construction
Credit Unions
Economic Development
Education
Financial Management
Healthcare
Human Resources
Insurance
Law
Manufacturing
Marketing
Media
Mining
Philanthropy
Residential Real Estate
Rural Nevada
Sports
Tax Planning and Accounting
Technology
Telecom
Tourism
Transportation
Utilities

Footer

Subscriptions

  • Print Subscription
  • Mobile App
  • E-mail Subscription

Editorial

  • Features
  • Departments
  • Events

Advertising

  • Advertise
  • Submission Requirements

Connect

  • Contact
  • LinkedIn
  • Facebook
  • Twitter

Copyright © 2022, Business Link LLC dba Nevada Business Magazine and Nevada Business Journal. Privacy Policy | Terms & Conditions
Nevada Web Design services by Nevada Central Media using Genesis Framework by StudioPress

    *Your Name

    *Your Email

    Phone Number

    Company

    *Subject

    *Your Message

      *Your Name

      *Your Email

      Phone Number

      Company

      *Subject

      *Your Message

        *Your Name

        *Your Email

        Phone Number

        Company

        *Subject

        *Your Message

          *Your Name

          *Your Email

          Phone Number

          Company

          *Subject

          *Your Message

            *Your Name

            *Your Email

            Phone Number

            Company

            *Subject

            *Your Message

              *Your Name

              *Your Email

              Phone Number

              Company

              *Subject

              *Your Message

                *Your Name

                *Your Email

                Phone Number

                Company

                *Subject

                *Your Message

                  *Your Name

                  *Your Email

                  Phone Number

                  Company

                  *Subject

                  *Your Message

                    *Your Name

                    *Your Email

                    Phone Number

                    Company

                    *Subject

                    *Your Message