by Manish C. Bhatia | Nov 1, 2010 | News + Trends
A recent decision emphasizes the importance of recognizing the named beneficiaries of your accounts and policies and updating them as necessary in a timely manner. In Northwestern Mutual Life Insurance Co. v. Rafi (October 19, 2010), a father had purchased two life...
by Manish C. Bhatia | Nov 1, 2010 | News + Trends
Divorce is a reality that is difficult to anticipate, but one that can be planned for through proper Estate Planning. The Illinois Marriage and Dissolution of Marriage Act (the “Act”) provides that although property acquired by gift, legacy or descent is considered...
by Manish C. Bhatia | Oct 1, 2010 | News + Trends
The latest buzz from Washington does not include any resolution on the Estate Tax uncertainty for 2010 and beyond, but does suggest that two things appear to be likely: first, that the Estate Tax dilemma will not be resolved until after the November Congressional...
by Manish C. Bhatia | Oct 1, 2010 | News + Trends
A common question from clients is whether and when their existing Estate Planning documents should be reviewed. In the past, the answer was simple—documents should be reviewed when there is a significant change in your family or financial situation, but at least...
by Manish C. Bhatia | Sep 1, 2010 | News + Trends
The Crummey Notice takes its name from the 1968 decision in Crummey v. Commissioner, 397 F.2d 82, 88 (9th Cir. 1968) in which it was established that a gift in trust qualifies for the annual Gift Tax exclusion as long as the trust’s beneficiaries have the power to...
