THE IMPORTANCE OF TRANSFERRING OUT-OF-STATE REAL ESTATE TO A LIVING TRUST
by Thomas D. Begley, Jr., Esquire, CELA, and Ethan J. Ordog, Esquire The Issue If a decedent dies a resident of one state, but owns real estate in a second state, the estate must be probated in the state of primary residence of the decedent and then again in the state in which the…
IMPORTANT UPDATES ON FINAL REGULATIONS REGARDING REQUIRED MINIMUM DISTRIBUTIONS (RMDs)
by Adam Cohen, Esquire As of July 18, 2024, the IRS has issued final SECURE 2.0 Regulations creating significant updates to the Required Minimum Distribution (RMD) rules for Individual Retirement Accounts (IRAs). These changes, part of broader legislative efforts to adjust retirement savings rules, aim to address longevity risks and ensure that retirement savings are…
PLANNING FOR A VACATION HOME
by Thomas D. Begley, Jr., CELA What Estate Planning Issues Must Be Addressed When Passing on a Vacation Home? If the client owns a home in a vacation area, it may be one of the family’s most cherished possessions. The client’s children may have fond memories of times spent there over the years. And if…