Estate Planning Articles
May 4, 2009
James McTarnaghan and Jennifer D. Cook - Duane Morris LLPOn April 17, 2009, the U.S. Environmental Protection Agency (EPA) issued a
proposed rule that, if adopted, would find that the atmospheric
concentrations of certain greenhouse gases (GHGs) endanger the public
health and welfare within the meaning of section 202(a) of the Clean Air
Act (CAA). The EPA also proposed to find that GHG emissions from new motor
vehicles are contributing to the mix of GHGs in the atmosphere, and
therefore contribute to public health and welfare endangerment. Full Story
May 4, 2009
Brian Pedrow and Stephanie K. Deiger - Ballard Spahr Andrews & Ingersoll, LLPThe U.S. Supreme Court recently handed employers a reason to consider
bargaining for arbitration provisions. In 14 Penn
Plaza LLC, et al. v Pyett et al., the court ruled that workers
cannot sue over age discrimination claims when their collective bargaining
agreement “clearly and unmistakably” requires arbitration of
such claims. Full Story
September 25, 2008
David Chazin In a "traditional" estate plan, each spouse provides for his or her assets (or most of the assets) to pass to the surviving spouse, with the understanding that those assets will go to their children at the surviving spouse's death. This planning approach may work well when the spouses have only been married once -- to each other -- and the only children involved are the ones they have together. But it can spell disaster if your family is one of the many today that doesn't fit this traditional definition. For couples with children from prior marriages, a better approach is to sort out what's "yours, mine, and ours" and plan accordingly so neither your spouse nor your children are unintentionally disinherited. Think carefully and objectively about potential conflicts, future needs, and human nature. The following strategies may help in your planning. Full Story
September 25, 2008
Joshua Keleske An increasing number of people are utilizing the revocable living trust as the primary document in their estate plans. A revocable living trust is an entity created during lifetime in which an individual (called a trustee) holds legal title to property on behalf of a beneficiary, who is typically the individual establishing the trust (or the grantor). It is a revocable trust because the grantor, at all times and for any reason, retains the absolute power and right to revoke the trust, or to otherwise amend or change the trust terms in any fashion. In addition, the grantor may withdraw the trust assets at anytime by taking the properties back into his or her individual name. Full Story
September 25, 2008
Gary Hamby The absence of government oversight for the past 7 years plus the dangers of reckless deregulation of the financial companies struck hard at the American financial system this date, threatening it in the most grave manner since the Great Depression. In a desperate move to stave-off international credit rating reductions the Federal Reserve initiated unparallel measures to inject massive liquidity into the markets this date. Banks will be able to turn in high risk CDS's (Credit Default Swaps) and speculative stocks for cash. What will the Federal Reserve do with such 'assets'? Presently, no one knows with certainty what will happen, but it is likely that the American taxpayer will be stuck with the bill. Full Story
September 25, 2008
Ted Krestanowich The wealth management process starts by establishing a strong relationship with an individual whom you trust. That individual must operate the highest ethical level and have your interests at heart. The individual selected must be able to assist in wealth management, and should be able to provide you with the information on which sound decisions can be made. A Financial Planner will outline the steps required to create and implement strategies, both financial and personal, which can meet your life goals. A Financial Planner is not going to make you rich, rather they are going to outline a process of specific steps in order to arrive at your goal. Full Story
September 25, 2008
Lance Wallach Your clients who are business owners are likely to be approached with information concerning a relatively new financial instrument called captive insurance. The term captive insurance is generic and refers to a broad spectrum of alternative insurance structures with the purpose of providing greater benefits than traditional insurance. Specifically, captive insurance can help your business clients potentially greatly lower their insurance costs, have more control in managing their insurance, and obtain coverage that might otherwise be unavailable or unaffordable. Some forms of captive insurance allow an insured or its assign to maintain an ownership interest in the underlying insurance company. As with any successful business, an owner of a captive can work with his or her advisors to best manage their insurance company. Another potential benefit is that of business and estate planning. Full Story
September 25, 2008
Richard Chapo Two things in life are certain - death and taxes. Here's what to do if the two are combined as far as filing a tax return. Tax Returns for the Deceased - If a person dies, their finances are immediately converted into something called an estate. The estate is then responsible for filing a tax return covering the finances including income and distributions to heirs and beneficiaries. However, a final personal tax return must still be filed for the deceased. The final personal tax return for the deceased is known as Form 1040. Yep, you file the same tax form as you would for any personal tax return. It is hard to believe the IRS passed up an opportunity to create another form, but there you go. Miracles do happen. Full Story