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Deadline looms: Should you re-characterize a Roth IRA? 

By: Correy Stephenson
Published: October 6, 2011

Tags: estate planning, estate tax, retirement planning, Roth IRA

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 

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

Tags: estate planning, retirement planning, reverse mortgages

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 

Published: April 14, 2011

Tags: estate planning, Medicaid, retirement planning

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 

By: Sylvia Hsieh
Published: March 16, 2011

Tags: estate planning, estate tax, gift tax, IRA, Obama, retirement planning, Roth IRA

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 

By: Pat Murphy
Published: March 8, 2011

Tags: arbitration, estate planning, IRA, retirement planning

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? 

By: Correy Stephenson
Published: December 14, 2010

Tags: 401(k), Obama, retirement planning, Roth 401(k), Roth IRA, Small Business Jobs Act of 2010

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.

Lawyers advise clients of Roth IRA conversion deadline 

By: Sylvia Hsieh
Published: October 8, 2010

Tags: estate planning, retirement planning, Roth IRA, trusts and estates

Despite a looming deadline for special rules on converting retirement money to a Roth IRA, many clients – and even lawyers – have not taken advantage of the offer.

Whether they are waiting until the last minute to decide or are gun-shy about writing a big check to Uncle Sam for the income tax on the conversion, lawyers say many taxpayers remain on the fence.

Attorneys should plan now for the cost of health care in retirement 

By: Nora Tooher
Published: August 9, 2010

Tags: Medicaid, Medicare, Medigap coverage, retirement planning

Solo and small-firm lawyers thinking about retirement need to factor in the cost of health insurance coverage, which currently averages $600 a month per couple.

Required minimum distributions back in 2010 

By: Correy Stephenson
Published: April 23, 2010

Tags: and Employer Recovery Act, required minimum distributions, Retiree, retirement planning, Roth IRA, Worker

After taking a year off in 2009, required minimum distributions are back.

In 2008, Congress passed a bill that suspended the rule requiring retirees over the age of 70 and 1/2 to withdraw a certain amount from their individual retirement and 401(k) accounts in 2009.

Career-long retirement planning 

By: Nora Tooher
Published: March 16, 2010

Tags: retirement planning

Chaos in the markets has forced many investors, including solo and small-firm lawyers, to think about their retirement plans.

But deciding when and how to invest your money for the long term can be overwhelming, particularly if you’re managing a practice at the same time.