News & Analysis as of September 19, 2024

Beneficiaries

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

Year-End Estate Planning for 2023

Seyfarth Shaw LLP on 11/30/2023

A strong stock market and “soft landing” have generated significant wealth this year. The gift tax, estate tax and generation-skipping transfer tax are all imposed on the fair market value of assets at the time of transfer....more

Estate Planning for Unmarried Couples: Considerations to Make

Lippes Mathias LLP on 10/5/2023

There are two ways in which your assets pass upon your death: (1) by operation of law to designated beneficiaries (IRA, life Insurance, etc.), pursuant to an agreement (a living trust agreement) or as joint owners with rights...more

Wealth Management Update - September 2023

Proskauer Rose LLP on 9/13/2023

September 2023 AFRs and 7520 Rate - The September 2023 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5%, which was the same as the August 2023 rate...more

Estate Planning Update: Recent IRS Ruling Offers a Stark Reminder of the Benefits of Proper Estate Planning for Retirement...

Keating Muething & Klekamp PLL on 8/8/2023

Despite ultimately finding in favor of a taxpayer surviving spouse, IRS Private Letter Ruling 2023-22-014 (the “PLR”) is chock-full of reasons to ensure proper planning is in place when it comes to IRAs....more

The Estate Planner, January/February 2023

Shumaker, Loop & Kendrick, LLP on 12/28/2022

Pay attention to securities laws when planning your estate - Do your assets include unregistered securities, such as restricted stock or interests in hedge funds or private equity funds? If so, it’s important to consider...more

Make Sure Stepchildren are Cared for in Estate Planning

Harris Beach PLLC on 9/27/2022

The state of marriage has morphed tremendously since the Brady Bunch first aired in 1969, giving rise to nearly as many blended families as traditional families. For those in this situation, it is important to incorporate...more

The Estate Planner, November/December 2021

Shumaker, Loop & Kendrick, LLP on 10/26/2021

Getting remarried? Understand your spouse’s inheritance rights - If you’re getting remarried, you may have very different expectations than you did when you married the first time, especially when it comes to estate...more

Impact of House Ways and Means Tax Proposals for Trusts, Estates, and Retirement Accounts

Bowditch & Dewey on 9/29/2021

In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more

Maximizing End-of-Year Charitable Giving

Bowditch & Dewey on 11/25/2020

As the holiday season approaches, people are thinking about giving to charitable organizations. As a donor, you can be both philanthropic and tax-efficient in your charitable giving. Estate Planning - One way to give is...more

HSAs: Understanding The Health Savings And Estate Planning Benefits

Adler Pollock & Sheehan P.C. on 6/22/2020

In addition to serving as a viable option to reduce health care costs, a Health Savings Account (HSA) can positively affect your estate plan because its funds grow on a tax-deferred basis. An HSA is similar to a traditional...more

Guess What? The Laws HAVE Changed – Avoiding A Conduit Trust Catastrophe After The SECURE Act

Weintraub Tobin on 5/4/2020

Like most estate planners, we always remind clients that tax and estate planning laws are subject to change and frequently do. As busy practitioners, it is impossible for us to reach out to every client when a change might...more

McNees Insights – Estate Planning: March 2020

McNees Wallace & Nurick LLC on 3/3/2020

The current year sees us coming off a good year in the stock market and an economy that is strong. However, in November there is another presidential election cycle, which could bring change to which political party controls...more

The Secure Act | How SECURE are you in your estate plan? (video transcript)

Buckingham, Doolittle & Burroughs, LLC on 2/27/2020

In this transcript of the video below, attorneys Ron Wayne and Sarah Blank discuss the SECURE Act and the key provisions that may affect you....more

2020 Estate Planning Update

Verrill on 2/26/2020

SECURE ACT - What you need to know: The Setting Every Community Up for Retirement Enhancement (SECURE) Act went into effect on January 1, 2020. The most significant provisions of the SECURE Act involve changes to the...more

The Secure Act | How secure are you in your estate plan?

Buckingham, Doolittle & Burroughs, LLC on 2/24/2020

In this brief video, attorneys Ron Wayne and Sarah Blank discuss the SECURE Act and the key provisions that may affect you....more

If Your Estate Plan Includes IRAs, a New Law Means It Is Time to Reevaluate

Chambliss, Bahner & Stophel, P.C. on 2/18/2020

Both workers and retirees may need to rethink some of their estate planning in light of the newest spending bill. The Setting Every Community Up for Retirement Enhancement (SECURE) Act, part of the massive bill, makes major...more

Insight on Estate Planning - February/March 2020: Estate Planning Pitfall - You’re hiding assets without telling anyone

Adler Pollock & Sheehan P.C. on 2/18/2020

People sometimes keep assets hidden without letting their family know about their existence or location. Similarly, they may have life insurance policies no one knows about. This brief article explains, through a fictional...more

SECURE Act Presents Planning Challenges and Opportunities for Retirement Accounts

Perkins Coie on 2/12/2020

The Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) was signed into U.S. law on December 20, 2019. The SECURE Act makes significant changes to the administration of IRAs and other tax-deferred...more

Your Retirement Planning and the SECURE Act

Farella Braun + Martel LLP on 2/3/2020

The Setting Every Community Up for Retirement Enhancement Act (or SECURE Act), signed into law on December 20, 2019, changes retirement planning significantly and unexpectedly. The bulk of the changes become effective as of...more

[Webinar] The SECURE Act: How This Brand New Law Affects Your Retirement Accounts - February 20th, 12:00 pm ET

Cohen Seglias Pallas Greenhall & Furman PC on 1/30/2020

The Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) was enacted on December 20, 2019, as part of a major appropriations bill. The SECURE Act is intended to make it easier for a broad range of...more

The SECURE Act: Elimination of the Stretch IRA

Ward and Smith, P.A. on 1/29/2020

The "Setting Every Community Up for Retirement Enhancement Act of 2019" ("SECURE Act"), which Congress passed at the end of 2019, included changes that may significantly affect how your retirement accounts fit into your...more

Asset Protection 101: Are You and Your Family Protected from Litigation, Creditors, and Divorce?

Cohen Seglias Pallas Greenhall & Furman PC on 1/28/2020

Presented by Cohen Seglias Attorneys Brian Lawton and Whitney Patience O'Reilly on January 23, 2020. It can take years to accumulate assets and increase the value of your business and investments. Unfortunately, without an...more

New SECURE Act Affects Estate Planning for Retirement Plans

K&L Gates LLP on 1/15/2020

Effective January 1, 2020, a new federal law dramatically changes the landscape for estate planning with retirement accounts. The Setting Every Community Up for Retirement Enhancement Act (the “SECURE Act”) implements new...more

Do Surviving Spouses Have a Right to a 401(k) or an IRA?

Chambliss, Bahner & Stophel, P.C. on 1/9/2020

When choosing a beneficiary for a retirement plan, it is important to understand how your spouse will be treated under the plan. Surviving spouses are treated differently under 401(k)s and individual retirement accounts...more

Call to Action: Review Your Estate Plan in Light of the SECURE Act

Ruder Ware on 1/8/2020

The federal appropriations bill enacted into law on December 20, 2019 changed federal law in ways that may affect your retirement assets, including 401(k) plans and IRAs. Those changes, often referred to as the “SECURE Act,”...more

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