Tax Law Defined® Blog

Showing 4 posts in Estates, Trusts & Wills.

The SECURE Act – Federal Retirement Enhancement Act May Soon Require Complete Restructuring of Inherited IRA Planning

On May 23, 2019, the U.S. House of Representatives passed the “Setting Every Community Up for Retirement Enhancement Act of 2019,” known as the SECURE Act, with a vote of 417 to 3. Read More ›

A Break from Tradition: Trust Planning for Wealthy Blended Families

Despite being a practice area separate and distinct from “family law,” estate planning techniques and strategies adapt not only to changes in tax law but also to the changing societal tides of what makes up a family. Read More ›

Should Your Estate Plan Be Revised After Tax Reform?

Should Your Estate Plan Be Revised After Tax Reform?

Tax reform in 2017 increased the exemption against the federal estate tax from about $5,600,000 to about $11,200,000 for each individual ($22,400,000 in the case of a married couple) from now through 2025. This means that there are far fewer families with wealth subject to estate taxation. Read More ›

Kentucky Adopts Uniform Trust Code

On April 7, 2014, Governor Beshear signed into law HB 78, which caused Kentucky to join 27 other states and the District of Columbia in the adoption of the Uniform Trust Code (UTC). Kentucky's adoption of the UTC makes the rules related to trust administration more similar to those in surrounding states (e.g., Ohio, Tennessee, West Virginia and Indiana, which have adopted various portions of the UTC in recent years), and it represents a substantial change to the trust law in Kentucky. In general, the UTC, among other things, (i) contains specific in-court and out-of-court procedures for terminating/modifying outdated or inflexible irrevocable trusts, (ii) more specifically defines the respective rights and duties of trustees and beneficiaries, (iii) provides statutory authority for the principles of virtual representation, and (iv) provides an extensive list of definitions applicable to the new Chapter 386B of the Kentucky Revised Statutes. Read More ›

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Attorney Spotlight

Alison M. Stemler is FBT’s Employee Benefits Team leader. She advises on executive compensation and employee benefits plans, including equity-based and deferred compensation arrangements, and assists with compliance issues for retirement and welfare plans and HIPAA.

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