by Joel Roettger | Jun 28, 2017 | Estate Planning, Retirement Assets, Tax
Is a spousal rollover available when the beneficiary of an IRA is a revocable trust? Surprisingly, in some cases, the IRS says yes. Decedent named a joint revocable trust as the beneficiary of his IRAs. He established the trust with Wife, and the couple funded the...
by Joel Roettger | Jun 22, 2017 | Estate Planning, Tax, Trusts
Not if the non-contributing spouse has the unilateral power to revoke: If a trust may be terminated during the life of the donee spouse, under her exercise of a power of appointment or by distribution of the corpus to her, the interest transferred in trust satisfies...
by Joel Roettger | May 25, 2017 | Estate Planning, Probate, Trusts
A good Last Will and Testament will address the issue of children born after the document is executed. Nonetheless, the Tennessee Code has the situation covered: A child born after the making of a will, either before or after the death of the testator, inclusive of a...
by Joel Roettger | May 24, 2017 | Asset Protection, Estate Planning, Trusts
Can a revocable trust created by one spouse after marriage constitute an enforceable postnuptial agreement for divorce purposes? This question arose in a recent case decided by the Tennessee Court of Appeals. The facts are as follows: Husband and Wife were married in...
by Joel Roettger | May 15, 2017 | Asset Protection, Estate Planning, Trusts
Ownership by the Other Spouse–It is not uncommon for a spouse with high liability exposure to transfer assets to his or her spouse with a lower risk profile. Tenancy by the Entirety (TBE)–TBE refers to assets titled in the name of husband and wife. A...