November 2012 Posts

  • Estate Can Sue to Enforce Waiver of 401(k) Benefits

    The recent U.S. Third Circuit Court of Appeals case Estate of Kensinger v. URL Pharma, Inc. involved an lawsuit by a decedent’s estate against an ERISA plan administrator and the decedent’s ex-wife, who was beneficiary as beneficiary of her ex-husband’s 401(k) plan, ...
  • The $5.12 Million Exemption – Use it or Lose it

    Now, weeks past the election with nothing positive coming out of Congress, people of means are finally starting to realize that it makes sense to use some or all of the $5.12 million federal gift and estate tax exemption before it falls to $1million next year. ...
  • Now is the Time to Consider Tax Issues as 2013 Draws Near

    A recent press briefing with Press Secretary Jay Carney touched on tax issues that will affect every American in 2013. Right now, Americans are ill-prepared for the approaching drop off the “fiscal cliff.” As tax cuts are about to expire in the New Year, how will individuals be affected?...
  • How to Determine Date of Death Values

    When administering an estate, determining the date of death values of the decedent’s assets is essential. Filing federal and state estate tax returns and paying any taxes due can only be done when the value of all the decedent’s property is known. ...
  • Springing Powers-of-Attorney in NC: New Court Case Makes Third Parties Responsible

    Powers of attorney, which should be part of every estate plan, allow an individual to appoint someone of their choosing to manage their assets and affairs, make medical decisions and handle other matters the individual would have controlled when they were competent. ...
  • The Financial Impact of ‘Gray Divorce’

    Divorce at any age involves the sensitive matter of splitting assets and debt. For couples who divorce in their senior years (coined a “gray divorce”), not only are a lifetime’s investments subject to division, but the costs of long-term care (LTC) also become an even more important consideration....