Precatory Language?
Wishing. Hoping. Wanting. These words convey suggestions, but not direct orders: they are precatory, and therefore not generally useful in official estate planning documents like wills or trusts, which demand absolute clarity. Nonetheless, attorneys…
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Staying Current: RMDs
Both the original SECURE Act, passed in 2019, and SECURE 2.0 enacted at the end of 2022, brought changes to the rules for required minimum distributions (RMDs). Experts caution retirement plan sponsors to pay…
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Second Chance: Why Not?
Automatically enrolling participants in employer sponsored retirement accounts has turned out to be a great step toward ensuring more workers save up. Experts remind plan sponsors to give those who opt out a second…
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Action Items: SECURE 2.0
It’s time to stop pondering the massive SECURE 2.0 legislation that passed at the turn of the new year and start acting on it, say experts. Given that compliance timelines are staggered over the…
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The Door’s Wide Open: ERISA Litigation
In follow-up to last year’s decision by the Supreme Court to remand the Hughes v Northwestern case, the 7th U.S. Circuit Court of Appeals has ruled that two of three claims against the plan…
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Probate: Final Distribution of Assets?
Probate is the public process of paying off debts and distributing assets, either in accordance with the terms of a will or, absent a will, the state laws of intestacy. Although probate tends to…
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Incentive Trusts: If You Do This…
When inspiring those we care about to achieve life goals is an important consideration during estate planning, establishing an incentive trust might be the way to go. Read on for an overview of incentive…
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Form 5500: Participant Count?
Retirement plan sponsors are encountering some confusion about the Department of Labor’s updated filing rules for Form 5500. Specifically, a question has arisen about how participants are counted to determine whether or not an…
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Topping The FBI List: Email Attacks
When it comes to internet crime, the FBI says that the biggest financial losses to businesses are now coming from email compromise attacks. Given the plethora of stolen credentials available on the dark web,…
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