by hoodlawkc | Tax Planning, Estate Planning
Rising costs of college and other higher education over the past several years, coupled with inflation and lack of a matching increase in average salary have made college education out of reach for many families. Baby boomer grandparents are now stepping in more than...
by hoodlawkc | Estate Planning
With the landmark ruling by the U.S. Supreme Court this summer allowing for same-sex marriage, a large contingent of Americans will have dramatic changes to their legal rights beyond the choice to marry whom they choose. Obergefell v. Hodges, (U.S. Supreme Court, Slip...
by hoodlawkc | Will, Estate Planning
Just as over-reliance on incompetent attorneys can have a negative impact on estate taxes for failure to file, misguided reliance in the drafting or execution of a will expressing intent of the testator may have unintended consequences as well. Wills have long been...
by hoodlawkc | Estate Planning, Tax Planning
Earlier this year, a federal court rendered an opinion in Janice C. Specht et al. v. U.S., No. 1:13-cv00705 (U.S. District Court, S.D. Ohio, Western Division, 2015), that should be a strong warning to those persons tasked with being executors of estates, and in...
by hoodlawkc | Estate Planning
Owners of retirement accounts need to be cognizant of the impact of a divorce or annulment from a spouse who is a named beneficiary. In the absence of a change of beneficiary designation removing the former spouse as a named beneficiary, depending upon the type of...
by hoodlawkc | Estate Planning
Inheriting an IRA can be a great financial silver lining to the otherwise very sad passing of a relative, but you should be aware that a recent unanimous Supreme Court decision puts inherited IRAs very much in jeopardy in bankruptcy proceedings. ERISA plans are...
