Category: Blog
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Viability of Using AI to Draft Wills
U.S. News & World Report recently interviewed InterActive Legal CEO, Vanessa Kanaga about the viability of using AI to draft Wills. Although current AI technology is impressive and can be put to beneficial use, the public should be wary of AI-generated Wills. In addition to generating Wills that may not be valid, AI is also…
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Why I Do Not Fear AI
Last year, I was working with a physical therapist to rehab a hip injury, and I asked him, “What do you think about foam rollers? Are they good or bad?” […]
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What to Know About SECURE 2.0
The Setting Every Community Up for Retirement Enhancement Act (“SECURE”), which became effective in January of 2020, made major changes in how beneficiaries of retirement plans and IRAs receive those assets after an account owner’s death. Proposed regulations were issued last year to provide additional guidance on SECURE, but they are not yet final.
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SECURE 2.0 Opens Door for Qualified Longevity Annuity Contracts (“QLAC”)
Back in the spring of 2022, in a rare show of bipartisan action, the House and Senate passed a law intended to give Americans an incentive to save for retirement. The bill received over 400 votes in the House and over 80 in the Senate. The bill, dubbed SECURE 2.0, is a follow-up to the…
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An Estate Planner’s Unexpected Journey
Fans of country music know that many songs are detailed stories about life – and that’s true for other types of music as well. A new country song called “Next Thing you Know” reminds me of one from a few years back called “Don’t Blink” – both describe how life can speed by before you…
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The 3 Levels of Practice Automation
The use of automation in estate planning law firms has been steadily increasing in recent years. The technology can do more, and clients are increasingly more willing to interact with it. Whether you use a lot of automation in your practice already or are just getting started – the savvy question to ask is: how…
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Flex Your Beneficiaries: How to Reduce Income Taxes and Maintain Creditor Protection
We hesitate to publish this, because as soon as we do, Congress will do a roundoff back handspring with a twist and things will change. However, as of this writing, the versions of the Build Back Better Act passed by the House and recommended by the Senate Finance Committee do not include any of the…
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Grantor and Non-Grantor Trusts: Some Thoughts About Turning Off Grantor Trust Status
Since at least 1986, when tax brackets for almost all Americans were compressed, and as a result of Rev. Rul. 85-13, which held that grantor trusts effectively did not exist for income tax purposes, grantor trusts have been one of the most commonly used estate tax planning tools. A “grantor trust” is a trust in…
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Keeping Pace with Afterlife Innovation
Imagine, you’re an estate attorney having a meeting with client who’s been trying desperately to gain access to his late wife’s Gmail account. He knows her emails contain important documents, but he is not exactly sure what or where they are. Google has denied the request because it failed to meet their policy requirements as…
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Protecting Your Client’s Digital After Life
Strictly speaking, digital assets are content that is stored in any electronic format. That could mean photos, videos, emails, spreadsheets or text. New digital formats are constantly emerging therefore the definition of a digital asset is always expanding as well. Rather than a definitive list of file formats that qualify as a digital asset, digital…
