Rivkin & Rivkin, LLC

Congressional Democrats are currently debating proposed legislation from the House Ways and Means Committee which, if enacted, would significantly impact estate planning.

We are proud to share the happy news that, this spring, we will be changing our firm name to Rivkin, Rivkin, & Kaplan, LLC to reflect the tremendous contributions of our longtime partner, Denise Kaplan.

From June 7 – July 19, Larry will be taking a short break from the practice of law and relocating to one of his favorite spots – Camp Nebagamon in Northern Wisconsin.

Unlike 2020, which brought the Illinois Trust Code, impacting the administration of trusts under Illinois law, and the SECURE Act, which substantially altered the distribution rules for IRAs and other retirement accounts (both as described in our law update last year), 2021 has not yet ushered in substantial estate and trust law changes.

2020 has ushered in a host of legal and tax changes. Below is a discussion of the changes that most impact estate planning. Significant Changes in IRA Distribution Rules In December, as part of the federal appropriations bill, Congress passed and the President signed the SECURE Act, which significantly changes the rules governing distributions from

Tax Law Impact on Estate Tax, ABLE Accounts, & 529 Plans Earlier today, the President signed the sweeping tax cut and reform package that Congress passed on Wednesday. Although the law addresses numerous individual and business income tax matters, we want to focus on changes impacting two areas of importance for our clients: (i) estate,

Congress Passes 21st Century Cures Act On December 13, 2016, President Obama signed the 21st Century Cures Act (the “Act”), which Congress had passed with strong bipartisan support. Prior to the Act, if an individual with disabilities under the age of 65 had their own assets and desired to transfer those assets to a supplemental

FUTURE OF THE FEDERAL ESTATE TAX? The election of Donald Trump and a solidly-Republican Congress has fueled great speculation about potential federal tax law changes.  We have long believed that the federal estate tax might one day be repealed and that our younger clients, in particular, should at least consider that possibility before engaging in