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Rule would speed retirement payments from bankrupt firms (access required)

By: Kimberly Atkins
Published: December 20, 2012

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WASHINGTON – A new rule proposed by the U.S. Department of Labor would make it easier for trustees of companies in Chapter 7 bankruptcy to distribute assets from its retirement plans.

IRS grants relief for reliance on tax professional (access required)

Published: September 21, 2012

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Taxpayers may be eligible for relief if they made an error in reliance upon a tax professional, according to a recent private letter ruling from the Internal Revenue Service.

The tax implications of the health care law (access required)

By: Correy Stephenson
Published: July 19, 2012

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When the U.S. Supreme Court ruled on the health care law late last month, the decision upholding the individual health insurance mandate made headlines.

But lost in the details and unknown to many was the 3.8 percent surcharge tax on net investment income set to take effect Jan. 1, 2013.

Retirement planning for solo, small firm attorneys (access required)

By: Sylvia Hsieh
Published: June 1, 2012

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Recent statistics indicate that more lawyers than ever are going solo, whether by choice or out of necessity.

What has not changed, say law practice management experts, is that both newbie and experienced solos are not planning for retirement early or often enough.

Deadline looms: Should you re-characterize a Roth IRA? (access required)

By: Correy Stephenson
Published: October 6, 2011

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Lawyers and their clients who chose to convert a traditional IRA into a Roth IRA last year face a deadline in the coming weeks.

Those who wish to re-characterize their Roth IRA back into a traditional IRA have until Oct. 17 to take action.

The virtues of private reverse mortgages for seniors (access required)

By: Harry S. Margolis
Published: July 1, 2011

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For years banks have been touting the virtues of so-called reverse mortgages as a way for cash-strapped seniors to tap into the equity in their homes to meet expenses, whether for day-to-day living or to pay for the increased costs of home care.

Caregiver contract counts against Medicaid eligibility (access required)

Published: April 14, 2011

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A Medicaid applicant’s $20,000 payment to her daughter for future caregiver services counted against her eligibility for nursing home benefits, a Massachusetts appellate court has ruled in affirming judgment.

Estate planning lawyers get tons of work from new tax law (access required)

By: Sylvia Hsieh
Published: March 16, 2011

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The new tax law, which contains changes to estate, gift and income tax rules, should keep estate planning attorneys busy advising clients on retirement planning for at least the next two years.

IRA beneficiaries must arbitrate dispute (access required)

By: Pat Murphy
Published: March 8, 2011

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The putative beneficiaries of an individual retirement account are subject to a mandatory arbitration agreement executed by their father when he opened the account, the Oregon Court of Appeals has ruled in reversing judgment.

Should lawyers, clients convert to Roth 401(k)s? (access required)

By: Correy Stephenson
Published: December 14, 2010

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Lawyers and their clients have a new opportunity to convert their 401(k) plans into Roth 401(k)s, but should think twice before making the switch.

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