ESTATE PLANNING LAW UPDATE: US Supreme Court Ruling Makes Inherited IRAs Vulnerable

In an unanimous ruling this June (CLARK v. RAMEKER), the Supreme Court of the United States removed an important tool from the Estate Planner’s belt. Inherited IRAs are now vulnerable to creditors. Prior to the ruling, inherited IRAs were considered “retirement funds” and were protected from bankruptcy proceedings. Using an IRA was a simple way … Read more

Reverse Mortgage Law Update: Update to Non-Borrowing Spouse Rules

HELPFUL DEFINITIONS: A Mortgagee Letter is a notice issued by the Department of Housing and Urban Development (HUD) to inform lenders (and borrowers) of changes in Federal Housing Administration (FHA) procedures, rules, and policies. The official name for what is colloquially known as a “Reverse Mortgage” is a “Home Equity Conversion Mortgage”. The “Deferral Period” … Read more

There’s More to Estate Planning Than Just the Will

WILLS, health care directives, lists of passwords to online accounts. By now, most people know they should prepare these items — even if they haven’t yet — and make them available to trusted family members before the unthinkable, yet inevitable, happens. But the information family and friends will need when a loved one dies goes … Read more