News & Analysis as of September 25, 2024

Life Insurance

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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 -

Estate and Tax Planning for US Expatriates

Allen Barron, Inc. on 11/16/2023

What are the most important elements of estate and tax planning for US expatriates? Are you planning to move out of the United States? Are you a US taxpayer who lives and works outside of the country? What are some of the...more

[Webinar] My Will and My Divorce: Protecting Your Assets From Your Ex - September 26th, 12:00 pm - 1:00 pm ET

Cohen Seglias Pallas Greenhall & Furman PC on 9/7/2023

During the divorce process, one often overlooked area is updating your estate plan. Divorce can impact beneficiary designations on life insurance policies, retirement accounts, and other assets and can also have tax...more

Estate Planning Pitfall: You Haven’t Coordinated Beneficiary Designations With Your Will

Adler Pollock & Sheehan P.C. on 5/3/2023

Perhaps you drafted your will years ago and it references many of your existing assets, including retirement plan accounts and life insurance policies. But you also have paperwork on file with the applicable financial...more

Why Contingent Beneficiaries Matter

Adler Pollock & Sheehan P.C. on 6/29/2022

Your will is the foundation of your estate plan. Notably, it provides for the disposition of your worldly possessions, including your house, investments and other property. These go to the beneficiaries named in your will. In...more

Do I Need to Update My Estate Plan?

Mitchell, Williams, Selig, Gates & Woodyard,... on 9/30/2021

If your life changes, so should your estate plan. Marriage, divorce, death of a spouse, a birth and a changing relationship with a child are just some of the life changes that may affect your estate plan. Unfortunately, as...more

Beneficiary Designated Property: A Trap for the Unwary

Pullman & Comley, LLC on 7/19/2021

Financial institutions and brokerage firms occasionally recommend that client accounts be structured as joint or beneficiary-designated accounts without full consideration of the impact on the client’s estate plan....more

Everything You Need to Know About Beneficiary Designations

Cohen Seglias Pallas Greenhall & Furman PC on 10/22/2020

Presented by Cohen Seglias associate Whitney Patience O'Reilly on October 22, 2020. An often overlooked but important aspect of estate planning is the designation of beneficiaries—both primary and contingent—on life...more

[Webinar] Everything You Need to Know About Beneficiary Designations - October 22nd, 12:00 pm - 12:30 pm ET

Cohen Seglias Pallas Greenhall & Furman PC on 10/8/2020

An often overlooked but important aspect of estate planning is the designation of beneficiaries—both primary and contingent—on life insurance policies and retirement accounts. In this webinar, Whitney O’Reilly, a seasoned...more

SECURE Act Impact on Estate Planning

Stinson LLP on 3/4/2020

The Setting Every Community Up for Retirement Enhancement (SECURE) Act was made a part of the appropriations bill late in 2019 and was signed into law on December 20, 2019....more

Updating Your Estate Plan in the Event of Divorce

Burns & Levinson LLP on 11/14/2019

It’s advisable to review and update your estate plan with any change in personal circumstances, financial circumstances, changes in the law, or just the passage of an extended time. But if you’re in the midst of a divorce, or...more

“Untying the Knot”: Practical Considerations for the Newly Divorced

Cozen O'Connor on 7/8/2019

I was asked recently by a financial advisor in New York, to review and comment on a chart he had put together which was designed to help newly-divorced people in get back on their feet. The draft document I received covered...more

Estate Planning After Divorce

Burns & Levinson LLP on 4/17/2019

Divorce attorneys saw a wave of divorces last year due to the changes in the tax laws that took effect on January 1, 2019. If you were one of the masses whose divorce was finalized in 2018, now is the time to revise your...more

Insight on Estate Planning - April/May 2019: A second walk down the aisle can complicate estate planning

Adler Pollock & Sheehan P.C. on 4/4/2019

An estate planning rule of thumb is to review (and, if necessary, revise) one’s estate plan in light of major life events. Such events include a marriage, birth of a child and a divorce. A second marriage also calls for an...more

Estate Planning and Retirement Considerations for Late-in-Life Parents

Chambliss, Bahner & Stophel, P.C. on 2/5/2019

Older parents are becoming more common, driven in part by changing cultural mores and advances in infertility treatment. Comedian and author Steve Martin had his first child at age 67. Singer Billy Joel just welcomed his...more

Should a tax apportionment clause be in your estate plan?

Adler Pollock & Sheehan P.C. on 8/2/2018

Even though the Tax Cuts and Jobs Act doubled the gift and estate tax exemption to $10 million beginning this year, there are many families that still have to contend with significant federal estate tax liability. Plus, there...more

Why Beneficiary Designations Should be Updated After Divorce

Jaburg Wilk on 7/24/2018

While in the process of divorcing, your attorney will remind you that you cannot change beneficiary designations on your accounts until the divorce is finalized. It is not uncommon to want to put the divorce out of your...more

6 estate planning techniques for blended families

Adler Pollock & Sheehan P.C. on 12/5/2016

A “blended family” is more than just a staple of TV sitcoms. Today, it’s not unusual for a household to include children and even grandchildren from prior marriages, as well as adopted family members or same-sex couples....more

Insight on Estate Planning - October/November 2013: Estate Planning Pitfall: A beneficiary designation or joint title overrides...

Adler Pollock & Sheehan P.C. on 10/10/2013

Inattention to beneficiary designations and jointly held assets can quickly unravel an estate plan. Many don’t realize that their will doesn’t control the disposition of “nonprobate assets,” such as life insurance policies,...more

Estate Planning Opportunities Arising from Recent Landmark Supreme Court Decisions Concerning Marriages of Same-Sex Couples

Katten Muchin Rosenman LLP on 7/1/2013

On June 26, 2013, the US Supreme Court (the “Supreme Court”) struck down Section 3 of the federal Defense of Marriage Act (DOMA) as unconstitutional in the case of United States v. Windsor (“Windsor”). In a related case, the...more

Insight on Estate Planning - April/May 2013: Estate Planning Pitfall: You’ve named a minor as beneficiary of your life insurance...

Adler Pollock & Sheehan P.C. on 4/2/2013

A common estate planning mistake is to designate a minor as beneficiary — or contingent beneficiary — of a life insurance policy or retirement plan. This brief article discusses why it’s better to designate one or more trusts...more

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