Monkiewicz v. Taylor

Fremont-smith, Thayer, J.

In this case, plaintiffs are the executors of the estate of the late Walter Z. Monkiewicz (“Walter”) who died in 2003. Walter had retained defendant Taylor of the firm of Adams & Blinn as his attorney in order to prepare his estate plan (‘Taylor defendants”). They created a life insurance trust (“the trust”) but allegedly neglected to transfer the ownership of a life insurance policy from Walter individually to the trust, with the effect that at Walter’s death, the policy was an asset of his estate for estate tax purposes resulting in an avoidable tax of $231,041.00.…