What is this? This Quick Assessment Tool can be used to get a generalized answer as to how to deal with the Setting Every Community Up for Retirement Enhancement (SECURE) Act effects on your IRA and Qualified Retirement Plan (“retirement plan”) accounts under your estate plan (“EP”). We still recommend that you review both the Secure Act Q&A and Secure Act Self-Assessment Tool / Full Discussion documents to better understand the issues and the most viable options in your situation.
By Allison L. Byrd, Morgan & DiSalvo, P.C. Aretha Franklin, the “Queen of Soul” and a beloved American icon, died in her home on August 14, 2018, at age 76. Despite having achieved a reputation as one of the most talented vocalists in the world and having amassed an estate worth approximately $80 million, [...]
As I type, I am sitting in the New Orleans airport waiting for my flight home. I have just attended the 11th Annual Conference of the Academy of Special Needs Planners, and my brain is spinning with new information and new ideas as to how I can apply those ideas to my clients. I feel charged with energy, enthusiasm and renewed purpose and vision.
Big Changes Are Coming To The GA Trust Code, But Likely Not Until July 2018! (Originally Published March 2017 & Updated May 2017)
By Richard Morgan Many state legislatures over the last decade or so have been on a mission to modify state laws to become more friendly as to estate and trust laws. These changes have included, among others, the extension of the rule against perpetuities safe harbor from 90 years to either 360 years or longer, [...]
by Diane Weinberg This month’s Passionate Estate Planner continues our discussion of trusts used in special needs planning. In January, we looked at three types of special needs trusts commonly used to preserve assets for an individual with a disability while allowing that individual to qualify for public benefits: a self-settled (first party) special needs trust, [...]
by Diane Weinberg Last week, I received my first phone call about the Achieving a Better Life Experience (ABLE) Act, new legislation creating a type of special needs trust for individuals with disabilities. A financial planner called me about a client who was concerned that he was going to have to liquidate certain assets of his [...]
"What is a Trust?" is one of the most fundamental questions we want to answer for our clients. A trust is a legal relationship created when one person, called the trustee, is given legal ownership of assets, and is also made responsible for managing and using those assets for the benefit of other persons, called [...]
A large part of the estate planning process is determining how you want assets distributed at your death and selecting the fiduciary who will be in charge of carrying out your intended distributions. When considering these issues, it is also critical to consider whether your desired asset distribution plan or fiduciary choice is likely to [...]
As Estate Planning and Elder Law Attorneys, we see the significant benefits of planning done right and the tragic consequences of planning done wrong. Years ago, a metro-Atlanta probate court asked me to serve as a guardian ad litem in a probate matter where a father’s do-it-yourself will left his estate to his current wife [...]
At its most fundamental level, estate planning is about controlling the otherwise-uncontrollable. Death is inevitable; disability is increasingly probable as we age. When death or incapacity occurs, what happens to us, to our property, and to our loved ones? Planning in advance and taking advantage of our many applicable federal and state laws allows us [...]