House of Representatives Passes the Death Tax Repeal Act of 2015

Creative business finance making money concept - stack of new ne

On Thursday, April 16, the House of Representatives passed H.R. 1105 or the Death Tax Repeal Act of 2015 by an extremely partisan margin of 240 to 179. The version of the Bill passed by the House of Representatives would repeal the estate and generation-skipping transfer taxes. If enacted into law, the Bill would leaveRead More

Child support for an adult child with disabilities

The high costs of medical care

The Voice is the newsletter of The Special Needs Alliance. This installment was written by Special Needs Alliance member Craig C. Reaves of Reaves Law Firm, PC. in Kansas City, Missouri. Holding the CELA (Certified Elder Law Attorney) designation from the National Elder Law Foundation, he is a Past President and Fellow of the NationalRead More

Introducing Wes Hill

WesHill

Wes Hill joined the Estates, Wills & Trusts Practice Group at Sirote & Permutt in July 2014. Originally from Columbus, Miss., he graduated from Millsaps College with a B.B.A. in Accounting. He earned his law degree at Cumberland School of Law at Samford University, summa cum laude in 2012. While Wes was at Cumberland, heRead More

Beneficiary designations: Have you checked yours lately?

Examinging A Document

When most people think of estate planning, Wills and Trusts come to mind first. Often, however, the beneficiary designation placed on life insurance policies, retirement plan accounts and other accounts with the option to transfer by beneficiary designation, such as Pay-on-Death (POD) or Transfer-on-Death (TOD) accounts, may actually transfer a significant portion of the person’sRead More

Lessons from the limelight

Red event carpet isolated on a white background.

Stories about celebrities and their estates can offer important lessons to the rest of us not-so-famous people. Take, for instance, Casey Kasem and Tom Clancy. Famed radio icon Casey Kasem’s sad final months before his death in June of this year illustrate the importance of having incapacity planning in place during your lifetime. The sagaRead More

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