Naming a Trust as an IRA Beneficiary: Is It Right for You?
In planning for your family's security, you may have wondered how to pass on your Individual Retirement Account (IRA) assets in the event of your death. In some cases, you may not want a family member to receive IRA funds directly after you're gone and wonder "can an IRA be in a trust?" If you're considering naming a trust as an IRA beneficiary, that can completely alter how the Internal Revenue Service (IRS) treats IRA distributions. Knowing the pros and cons of this estate planning strategy can help you make the best choice for your circumstances in conjunction with an experienced estate planning attorney.
The West Virginia Opioid Reduction Act and Workers’ Compensation
In the spring 2018 session of the West Virginia Legislature, the West Virginia Opioid Reduction Act was passed. The law went into effect on June 7, 2018. The Act is not a workers' compensation statute, per se, meaning that it does not state that it applies to workers' compensation, but it does not expressly exempt workers' compensation from its coverage either.
Your Year-End Estate Planning Checklist
You can't stop time from passing. As you are asking yourself how another year went by so quickly, take control of those things that you can control and that can give comfort and support to your loved ones: review your estate plan using this year-end estate planning checklist.
Changes in your health, your assets, or your family situation occur over the course of a year. Taking an afternoon to address what these changes mean for your estate plan can give you peace of mind in those long winter nights and provide comfort for your loved ones, too.
International Estate Planning for Individuals and Families
The adoption of the European Parliament's European Succession Regulation in 2012 simplified estate planning in the European Union. The regulation also resolved jurisdictional and choice of law issues. Unfortunately, no single overarching law governs international estate planning for other countries, including the United States.
WV Gun Laws for Businesses: The Impacts of HB 4187
Significant changes were made to WV gun laws for businesses in the 2018 legislative session. House Bill 4187, an amendment to West Virginia Code §61-7-14, created the Business Liability Protection Act. The Act effectively bans businesses from restricting the rights of individuals to stow a firearm in a personal vehicle on employer property under certain circumstances.