The goal of this article is to highlight some of the changes to the rules governing retirement account distributions under the Securing a Strong Retirement Act of 2022 (aka SECURE 2.0). The positive changes include the following: The age at which one must withdraw required Minimum Distributions (RMDs) has increased…
Lindabury, McCormick, Estabrook & Cooper, P.C. is please to announce that 15 of the firm’s have been selected for inclusion in The Best Lawyers in America 2023. Steven Backfisch was recognized as Best Lawyer in America for Litigation in Labor & Employment. John R. Blasi was recognized as Best Lawyer…
It has been a routinely held belief among estate planners that a Revocable Living Trust is not necessary for New Jersey residents. The purpose of this article is to identify those situations in which a Revocable Living Trust can be beneficial for residents of New Jersey. Most commonly, we hear…
We are proud to announce 11 of our attorneys have been named to the 2021 Best Lawyers® list, two of which were named “Lawyer of the Year.” This recognition in The Best Lawyers in America© 2021, identifies each for their leading legal talent in their corresponding practice areas. The following…
A recent decision from the Morris County Chancery Division, Probate Part, serves as an important reminder to not only think about the final disposition of your remains, but to communicate those thoughts to the significant people in your life. In an unpublished opinion, In the Matter of the Estate of…
Mary Pat Magee discusses the increased NJ estate tax exemption and impending elimination in the New Jersey Law Journal article “NJ Estate Tax Phaseout Hasn’t Haunted T&E Practices”. Mary Pat says “We’ve always been faced with a planning environment full of tax uncertainty” as she recalls her early days when…
In Clark v. Rameker, the United States Supreme Court held that an inherited IRA does not fall within the definition of retirement funds under Federal Bankruptcy law and is, therefore, not exempt from claims in a bankruptcy proceeding. This decision had a considerable impact upon the estate planning world. It…