Monthly Archives: May 2014

Why Your Trust Needs Fiduciary Accountings by Rick Bazzani

Posted on May 30, 2014 by Rick Bazzani

The role of the trustee is integral to the successful maintenance and protection of assets held in trust. He or she is responsible for carrying out the fiduciary responsibilities entrusted to them, including making prudent investment decisions and meeting the wishes specified by the grantor to distribute the trust assets as specified in the trust […]

How to Update an Irrevocable Trust by Jeffrey M. Mutnik

Posted on May 27, 2014 by Jeffrey Mutnik

Rarely is estate planning a one-time endeavor. As the world evolves, so too do families and their circumstances. Grandchildren are born, children divorce and remarry, and decisions made yesterday may not be applicable tomorrow or into the future. Additionally, with the passing of time, new laws are enacted that affect the intended tax and legacy […]

IRS Releases 2015 Annual Contribution and Deduction Limits for Health Savings Accounts by Nancy M. Valdes

Posted on May 23, 2014

On April 23, 2014, the Internal Revenue Service released the 2015 annual contribution and inflation-adjusted deduction limits for health savings accounts (HSAs). To be eligible to contribute to an HSA, individuals must participate in high-deductible health plans. For 2015, the deductible for these plans may be no less than $1,300 for self-only coverage and $2,600 […]

Protect Yourself from the Top Tax Scams of 2014 by Joseph L. Saka

Posted on May 21, 2014 by Joseph Saka

While the 2013 tax filing deadline has passed, the Internal Revenue Service warns taxpayers to remain vigilant against the proliferation of illegal schemes that continue to put them at risk of fraud and identity theft. Following are the top-seven tax scams, according to the IRS. Identity Theft Identity theft occurs when thieves gain access and […]

401(k) Plans Can Land Employers in Court by Sean Deviney

Posted on May 05, 2014 by Richard Berkowitz

Since 2010, the U.S. Department of Labor has issued a litany of regulatory updates designed to improve transparency and fiduciary responsibilities relating to the management of 401(k) plans. As a result, employers who sponsor these defined-contribution plans face more challenging compliance requirements as well as increased scrutiny of their financial stewardship over employee’s investments. In […]

Choosing the Right Valuation Method Can Minimize Future Conflicts Related to Buy-Sell Agreements by Richard Pollack

Posted on May 01, 2014 by Richard Pollack

A transfer of business ownership typically follows a triggering event, such as the death, disability, termination or retirement of a shareholder. In each of these circumstances, disputes can arise from the conflicting goals of all involved parties. Resolving these tensions at the time of transfer can prove costly and time consuming and may even result […]