Security Breaches Defined
Since the Department of Labor issued Guidance in 2021 directing retirement plan sponsors to monitor the cybersecurity protocols in use by service providers, there has been a great deal of confusion about what exactly…
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Unclaimed Estate: $11 Million
When Joseph Stancak died in Chicago at the age of 87, he left behind $11 million, and had no will. Now, six years later, 119 distant relatives have been identified and will inherit a…
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Life Estates Explained
In many families, property, specifically the family home, is the most important asset for consideration during estate planning. Accordingly, lawyers share advice about how the dual goal of remaining securely at home while we…
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Compliance: Year End Responsibilities
The end of the year is an important time for retirement plan sponsors to review plan documents and plan operations. Discretionary changes as well as amendments for compliance must be properly reflected in plan…
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Cybersecurity: What About Your Vendors?
Business owners of all kinds are learning fast: cybersecurity strategies and tactics are integral to running a successful company. Attention to the cybersecurity protocols of any and all vendors (aka service providers) the company…
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What Is a Trust?
Estate planning increasingly involves the establishment of a trust, which is a practical way to designate funds for our own needs and for beneficiaries, including children or those with special needs. Trusts allow for…
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Probate Complications
Probate is the legal, public process that brings closure to our affairs when we die. Probate protocols vary by state, and at some point, most families will navigate the appropriate proceedings upon the death…
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Outcome Oriented
A recently study of nearly 2,500 adults points to what is well understood intuitively: people have messy feelings about retirement, and this makes it challenging to target communications and information about retirement savings plans….
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Orphan Accounts?
Plan sponsors are advised to stay on top of communications with former employees who leave their 401k accounts behind. The fiduciary risks associated with “orphan” accounts stack up. Facilitating portability is also wise, as is…
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