News & Analysis as of

Surviving Spouse Beneficiaries

Estate planning during divorce: It’s never too early to start

by Thompson Coburn LLP on

Estate plans prepared for married couples will vary in complexity and detail but generally follow the same theme: The revocable trust or will typically provides that upon the death of the first spouse, the surviving spouse...more

Estate Planning Pitfall: You reside in a state with high estate tax

Even though reforms being debated by Congress could repeal the federal estate tax with certain modifications, state estate taxes might still siphon off hundreds of thousands of dollars regardless of what happens under federal...more

The flexibility of stretch IRAs: Learn how your IRA can benefit your spouse and other beneficiaries

IRAs are meant to be used for retirement saving. However, if a person doesn’t need to tap into an IRA for income during retirement, he or she can preserve the assets as part of his or her estate, above and beyond what was...more

Insight on Estate Planning - April/May 2017

Protect multiple generations with a dynasty trust - Dynasty trusts have nothing to do with the popular soap opera from the 1980s, but everything to do with leaving a lasting legacy. Although this type of trust is often...more

Tax Tips

Internal Revenue Service Temporarily Holding Off on Issuing New Regulations - The Internal Revenue Service is temporarily holding off on issuing new rules while evaluating the impact of executive orders from President...more

Chris Lazarini Provides Insight on Compelling Non-Signatories to Arbitrate Disputes

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini provided insight on a case in which a widow and one-time named beneficiary of her husband's IRA account acquired the account assets after her husband's death, although she was not...more

Wealth Management Update - December 2016

by Proskauer Rose LLP on

December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

Update on Estate and Gift Tax Proposals

by Pessin Katz Law, P.A. on

Congressional Proposals: H.R. 1105, Death Tax Repeal Act of 2015, was passed by the House, as amended, on Apr. 16, 2015. The bill amends the Internal Revenue Code to repeal the estate and generation-skipping transfer taxes...more

Supreme Court Approves Same-Sex Marriage: Tax and Legal Implications for Same-Sex Spouses

by Jackson Walker on

On June 26, 2015, the Supreme Court handed down its decision in the landmark case of Obergefell v. Hodges. The Court held that the Fourteenth Amendment to the United States Constitution requires all states to license a...more

Why it is Crucial to Designate a HSA Beneficiary?

by Jaburg Wilk on

As high deductible health insurance plans are becoming more popular, an important component is health savings accounts (HSA). In addition to having current tax advantages, there is specific tax treatment of HSA accounts upon...more

Death After Divorce: Who Gets the Proceeds?

by Carlton Fields on

Under the common law of some states, if an individual names his or her spouse as the beneficiary on a life insurance policy, gets divorced, and then dies without changing the beneficiary designation, the mere fact of a...more

Wealth Management Update - November 2014

by Proskauer Rose LLP on

November Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The November Section 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more

New Statutory Elective Share for Surviving Spouses in Rhode Island

by Partridge Snow & Hahn LLP on

A surviving spouse’s rights and interests to assets of a deceased spouse have been clarified and expanded by a new spousal “elective share” statute in Rhode Island (R.I.G.L. § 33-28-1 et. seq.). ...more

Supreme Court Holds Federal Law Preempts State Law Allowing Litigation Over Proceeds of Federal Life Insurance Policy

by Littler on

Recently, in Hillman v. Maretta, the Supreme Court of the United States affirmed a Virginia Supreme Court ruling that held that federal law preempts a state law that allowed a deceased federal employee’s spouse to sue a...more

Litigating Accounts With Rights of Survivorship in Texas

by Winstead PC on

In this article: - I. Introduction - II. Valid Survivorship Accounts - III. Joint Accounts Between Spouses - IV. Burden Of Proving Enforcable Survivorship Accounts - V. Proving Contents Of...more

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