Benefits Litigation - Stephen Rosenberg, American Conference
Institute's ERISA Litigation Conference (Chicago, Illinois), April,
Use Steve's name for
Wagner Law Group News
The Wagner Law Group
comprehensive resources on ERISA and employee benefits; estate
planning; and employment, labor and human resources law. Below
are links to these resources.
Quoting The Wagner Law Group
The Best Way Plan
Sponsors Should Pay Fees for 401k Fiduciary Advice - Steve Rosenberg, Fiduciary
News, March 3, 2015
to Result in Major Changes - Marcia Wagner, Investment
News, March 2, 2015
Flood of 401(k) suits
expected if Tibble prevails - Marcia Wagner, BenefitsPro,
February 23, 2015
Wagner Law Group Adds
ERISA Attorney - Marcia Wagner, PlanSponsor,
February 23, 2015
lessons in breach suits - Tom Clark & Steve Rosenberg, Pensions & Investments,
February 23, 2015
We're Living Longer -
Get Ready to Pay for It - Marcia Wagner, ThinkAdvisor,
February 9, 2015
What Should You Be
Afraid Of In Obama's Budget? - Marcia Wagner, 401kWire.com, February 6,
issue gets Supreme Court hearing - Steve Rosenberg, Pensions
& Investments, January 26, 2015
Webinars and Podcasts
Contractors Are Not Who You Think They Are: Employee Status Matters - David Gabor & Steve Wilkes, Employment Law Webinar,
March 5, 2015
A Checklist for the
Ever Evolving Employer-Employee Relationship - David Gabor, Employment
Law Webinar, February 26, 2015
Kickoff for Investment Advisers and Broker Dealers - Steve Wilkes, Investment
Management Law, February 19, 2015
Advertising Issues for Investment Advisers - Steve Wilkes, Investment
Management Law, January 22, 2015
Publications and Articles
The Wagner Law Group's Newsletters provide information on the latest
changes in ERISA and employee benefits; investment management;
litigation; estate planning and administration; and employment, labor
and human resources law.
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Oftentimes, I'm asked questions about estate planning
and retirement, so I've compiled a list of the most frequent
questions that I receive.
If you have any questions, please contact me.
FAQs on Estate Planning and Retirement
My spouse and I spend winters
in Florida and are considering making Florida our legal residence.
We have been told that aside from the weather, Florida offers a
favorable "tax climate." Is that true?
Yes, for several reasons. For example, Florida has
neither an income nor an estate tax. (New York's top estate tax
rate is 16%!) Changing one's domicile to Florida also brings about
important non-tax consequences, most of which are favorable. We
will deal with these in future newsletters. Bear in mind that such
a move may be scrutinized by the state from which you are moving;
particularly if you plan to maintain some ties with that state.
(For example, should you wish to keep a home for use in the summertime.)
We will also discuss how to change
domicile effectively. Please stay tuned!
What are the most important
estate planning questions that soon to be retired people need to
Retirement by any reasonable standard is a major life
cycle event. Thus, planning for retirement should include a review
of one's estate plan. Whether changes are necessary depends upon
individual facts and circumstances. And depending in part on how
much time has elapsed since the last review, facts and
circumstances may have changed significantly. Thus, revisiting the
basic questions is important:
are my beneficiaries?
what manner - outright or in trust - should their inheritance
beneficiary designations of non-testamentary assets (such as
retirement plans and IRAs) current?
the very significant and numerous changes in the tax laws over
the last several years, should tax issues be addressed?
whom shall I entrust the administration of my estate -
Executors, Trustees, etc.?
documents such as a durable power of attorney and health care
Should you tell potential heirs
about your estate plan?
As a general rule, yes. Certainly exceptions exist,
and each family's circumstances should be addressed. But absent
special circumstances, discussing the estate plan with family
members is helpful and very often will avoid post-death conflicts
that might otherwise arise if certain members are not convinced
that documents reflect actual intent. ("I don't care what the
Will says, I know Mom wanted me to have her engagement
Does retirement make any real
difference in your estate plan? For instance what impact does
losing employer paid life insurance make?
Retirement from employment may and very often does
bring about significant changes in one's financial circumstances.
From an income standpoint, employment related compensation will be
replaced by retirement benefits and accumulated savings.
Employer-provided health insurance may no longer be available. Term
life insurance provided through employment will likely terminate.
Even personally owned term insurance may be too costly to continue.
Thus, while we function as legal rather than financial advisors, we
do recognize the importance of a review of one's financial
circumstances and the need for understanding how one's financial
life will be different in post-retirement years. (The "golden
years" are not so gold if the gold is lacking.)
With people living into their
80s and 90s, should you expect to have to revise your estate plan?
Making generalizations is difficult,
because individual situations differ so greatly. But
regardless of age, we recommend that at least every five years, a
client review his or her estate plan to determine whether any
changes are necessary. In our view, the need for periodic review
and possible updating increases rather than diminishes in
We all hate to face our
mortality. Why is it important for people in their 50s and 60s to
have an estate plan?
Estate planning is generally defined as the process by
which one arranges an appropriate disposition of his or her net
worth to desired beneficiaries without incurring unnecessarily high
transfer taxes. Thus, estate planning is important for anyone who
has accumulated net worth; and also for anyone with young children,
regardless of financial circumstances. Young adults, for
example, may have little need for sophisticated tax planning, but
considerable need for appropriate documentation to designate a
guardian for their kids. People in their 50s and 60s are no
We do need
assistance with our financial and estate planning. How can Wagner
Law Group help?
We offer no
investment advice and sell no product. Wagner does however, offer
the services of experienced estate planning attorneys. We believe
in a "team approach" to estate planning and work closely
with your other advisors, such as your accountant, insurance agent,
and investment advisor. Biographical information on individual
attorneys is available on our Firm's website.