Marital Consequences of the Repeal of Federal Estate Tax

estatetaxrepeal.jpgTo the surprise of everyone in the estate planning community, Congress failed to address a critical estate and generation-skipping tax matter before the end of 2009, resulting in the repeal of the federal estate tax.  However, this repeal is for 2010 only.  In 2011, the exclusion for federal estate tax reverts back to $1,000,000.  How is this possible, and what effect does it have on couples’ estate plans, particularly second marriages?

Since 2001, the federal estate tax has been gradually phasing out, with an increasing exclusion from federal estate tax each year.  In 2009, the exclusion increased to $3,500,000. In 2010 however, the federal estate tax disappears, only to return in 2011 with only a $1,000,000 exclusion.  To further complicate things, although the federal estate tax disappears in 2010, the unlimited step-up in basis for inherited assets also disappears; and a decedent’s estate is permitted to increase the basis of assets by only up to a total of $1.3 million with an additional $3 million if there is a surviving spouse.  How does this affect estate planning?

Many couples’ estate plans were written to shelter the exclusion at the death of the first spouse by using a “by-pass” or “shelter … Read More... “Marital Consequences of the Repeal of Federal Estate Tax”

What is The Purpose of the Ohio Putative Father Registry?

puronlineform.jpgLately, it seems that I have had more and more of my male clients coming in to see me to discuss issues relating to paternity.  There are so many myths out there about what needs to happen to establish paternity and the possible outcomes of failing to do so, that it never ceases to amaze me!  Perhaps the most serious outcome that many people are unaware of is that a “putative” father can have his child adopted out to someone else without his consent if the appropriate action has not been taken.

In Ohio, a person is presumed to know that if he has had sexual relations with a woman and she becomes pregnant that the child may be adopted without the father’s consent once the child is more than a month old.  As a way to counteract this result, the Ohio State legislature mandated the creation of the Ohio Putative Father Registry.  The purpose of the Registry is that a person who believes that he may have fathered a child can now establish the legal right to be notified of any hearings where the mother either voluntarily or involuntarily gives up custody rights to the child.  The “putative” father … Read More... “What is The Purpose of the Ohio Putative Father Registry?”

12 Proactive Steps to Take If You Are Contemplating Divorce

12steps.jpgJason C. Brown, the publisher of the Minnesota Divorce and Family Law Blog, recently posted a very practical article outlining some important steps to take if you are anticipating filing a divorce action. I am grateful that he has allowed me to repost it here. I concur with his wise “nuts and bolts” type suggestions. Remember the old adage, “An ounce of prevention is worth a pound of cure”.  Plus, this “ounce of prevention” might well save you thousands of dollars in attorney fees!

Once you break the news of your desire to dissolve your marriage, interesting things may start happening at your house. Critical records and valuable items of personal property may suddenly vanish. It pays to be proactive to ensure that you have all the information you will need to move forward as efficiently as possible.

The wasted time and cost associated with hunting down missing documentation can be staggering. We’ve handled cases where everything from an expensive diamond ring to boxes of business records have taken a “vacation”. We almost always find them, but not without substantial effort. In cases where they are not found, the Court will impose substantial sanctions and assume the missing … Read More... “12 Proactive Steps to Take If You Are Contemplating Divorce”

Your Divorce Marathon

donnabok.jpgGetting tired of all this? No one goes into a divorce adequately prepared to deal with all the changes and stresses. As active, high-functioning men and women, we want to do the best we can in the least amount of time. However, divorce is a process, not a single event, and it can be a long process. Even if the legal divorce takes only a few months, the fall-out (both emotional and financial) can continue for many years.

To prevent your divorce from becoming overwhelming, recognize that you cannot rush it. The legal system works at its own pace. It requires patience and energy. The emotional components also take their natural course. Each person heals in his/her own time. While there are things you can do to minimize the pain, the process will have to run its course.

Think of your divorce as a marathon, not a sprint. In a sprint, we gather all of our energy and push to our very limits right from the beginning of the race. We can exert that much energy for the sprint because it is short in duration. However, the body cannot sustain that exertion for long periods of time without collapsing. In … Read More... “Your Divorce Marathon”

Here Comes the Judge: A Little Insight for Your Child Custody and Divorce Case

hjudge.jpgMichael Mastracci, an attorney from Baltimore, Maryland, publishes one of my favorite blogs, “Divorce Without Dishonor.” He is a huge proponent of utilizing the collaborative law model in divorce and custody matters whenever possible. He recently posted an excellent piece, with which I agree, well worth sharing. I have added a few of my own thoughts at the end.

When I was in law school one of the adjunct professors was a circuit court judge with years of experience presiding over cases involving dueling parents arguing about virtually every aspect of their children’s lives. His advice, probably the best advice in three years of law school, was to know your judge. His Honor was not speaking about knowing the judge personally (although that never hurts) but knowing what he or she is likely to do in any given situation or factual scenario. What does that mean?

People often tend to forget that judges are people, people who likely either knew the governor or knew people close to the governor in order to get appointed. Judges are not necessarily appointed because they are smart. There is no judgeship test or certification to wear the robe once appointed (that … Read More... “Here Comes the Judge: A Little Insight for Your Child Custody and Divorce Case”

Planning Parenting Time for the Holidays – Tips to Follow

tipsxmas.jpgAs we are now into the month of November, it is not too early for divorced and divorcing parents to look ahead to the upcoming Christmas Holiday.  Here are some “tips” regarding the “nuts and bolts” of handling the Christmas holiday season.

  1. Read and examine the Parenting Time Schedule for your particular County which should be attached as part of your Final Decree or Court Judgment.  The Domestic Relations Court and Juvenile Court of each County have differing schedules. If your parenting time schedule has been lost or misplaced, you can obtain a replacement from your attorney’s office or the clerk where your order was filed.For example, Montgomery County, Ohio, has the following provision as to the Christmas Break:

    In all even-numbered years, the Mother shall have the children from 9:00 a.m. the day after school recesses (or 9:00 a.m. on December 20 if the children are not in school), until 9:00 p.m. December 24, and the Father shall have the children from 9:00 p.m. December 24 through 6:00 p.m. January 1.  In odd-numbered years, the reverse shall apply.

    And, Greene County, Ohio, has the following provision as to Christmas Break:

    In all even-numbered years, the Mother shall have the

… Read More... “Planning Parenting Time for the Holidays – Tips to Follow”

Parental Abduction: Prevention and Remedies

jcpas.jpgOur guest contributor this week is Judianne Cochran a nationally recognized expert/consultant in the following disciplines: sex offender profiling; interstate and international parental abduction; interstate custody and parental alienation. She has testified in numerous Courts throughout Ohio and the country. Judi presently resides in Columbus, Ohio.

Recently, there has been a flurry of news reports and discussions regarding cases where an abduction has already occurred and a child has been taken and retained in a foreign jurisdiction.  The most recent is a case where a father attempted a “snatch-back” in Japan.  As is usually the case, this self-help method does not result in the recovery of a child.  Unfortunately, in both that case and in the Goldman case where the child is in Brazil, it appears that nothing was done in the way of prevention before the loss of the child.

There are many measures which can be put into place to aid in the prevention of an international abduction.  To begin with, any parent who chooses to have a child with a foreign national should always anticipate the possibility that the foreign parent will eventually elect to take the child and return “home”.  Since this is an obvious predictable … Read More... “Parental Abduction: Prevention and Remedies”

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