National Estate Planning Awareness Week

tax image - drawing

October 20-26, 2014 is National Estate Planning Awareness Week. In 2008, prompted by the estimate that over 120 million Americans are without up-to-date estate plans to protect themselves or their families in the events of sickness, accidents or untimely death, Congress passed a resolution so recognizing the third week of October every year. If youRead More

Inherited IRAs are not protected

Broken Retirement Account

The U.S. Supreme Court recently held in the case of Clark v. Rameker that inherited IRAs are not exempt from such IRA beneficiary’s creditors because inherited IRAs are not considered to be retirement funds.  Therefore, creditors of an IRA beneficiary’s inherited IRA can successfully attack the assets inside the inherited IRA. The question as toRead More

Speaking from the grave in more ways than one

Scanning Qr Code

When writing opinions in matters involving a Last Will & Testament, courts are fond of saying, “the Will speaks from the testator’s death,” as did the Alabama Supreme Court in the aptly captioned case, Wills v. Wills. Trust & Estate lawyers sometimes speak euphemistically of the “dead hand” of the testator speaking through the WillRead More

Considerations when initiating or settling a personal injury action

Estate Planning Word Cloud Concept In Red Caps

Learn more about some of the unique concerns faced by individuals permanently disabled as a result of an injury caused by the negligent acts of a third party. These concerns apply whether the injury results from something as mundane as a minor auto accident or from a complex medical malpractice. In any case where permanentRead More

Do-it-Yourself Will: Cautionary tale

Still Life Of Will Document On Desk

“Penny-wise and pound-foolish” is the term used by a Florida Supreme Court Justice in a recent case, Aldrich v. Basile, to describe the person whose estate was the subject of the case, an individual who drafted her own Will using an Internet-purchased form. Ms. Aldrich likely used a pre-printed form Will in an effort toRead More

Estate Planning with Carried Interest: The last frontier of favorable tax treatment for fund managers?

Estate Planning Word Cloud Concept On A Blackboard

OVERVIEW OF PRIVATE INVESTMENT FUNDS AND CARRIED INTEREST  Although brought to the spotlight in the last Presidential election, favorable income tax attributes available to “carried interest” have been under attack for some time. Various forms of legislation have been proposed to curb the favorable income tax treatment afforded to carried interest. However, managers of privateRead More

Sirote Presents ASCPA Webinar Series 2014


This year’s ASCPA webinar series includes an array of interesting topics for participants. Join Sirote & Permutt as we team up with the Alabama Society of Certified Public Accountants to present a “Lunch & Learn” webinar series that will cover The Affordable Care Act, income tax issues, Section 1411 planning and more. “As a leader on many taxRead More

Bankruptcy treatment of an inherited IRA

Estate Planning Word Cloud Concept

On June 12, 2014, the U.S. Supreme Court issued its decision in Clark v. Rameker, 537 U.S. __ (2014), resolving a difference between federal circuit courts on the issue of whether an inherited IRA is excluded from the bankruptcy estate under section 522(b)(3)(C) of the federal Bankruptcy Code, which exempts retirement funds from the bankruptcyRead More