Warning: Don’t Let Creditors Inherit from You or Your Spouse

Rincker Law Retirement Trusts Leave a Comment

Although spouses receive special treatment when inheriting a retirement account such as an IRA (the ability to roll over the account into a personal retirement account and to stretch the distributions over their lifetime), the retirement account you leave for your spouse can still be seized in a divorce, a lawsuit, or a bankruptcy proceeding. Three Options Available to Surviving …

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Caution: Creditors Are a Threat to Inherited Retirement Accounts

Rincker Law Retirement Trusts Leave a Comment

Do you have an individual retirement account or other type of retirement account that you plan to leave to your loved ones? If so, proceed with caution. Inherited retirement accounts do not have asset protection when they pass to your loved ones, meaning creditors can seize the money in the accounts to satisfy any claims against your beneficiaries. How Can …

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Five Reasons to Protect Your Retirement Accounts Now

Rincker Law Retirement Trusts Leave a Comment

Your retirement account provides asset protection during your lifetime, but as soon as you pass that account to a loved one, that protection evaporates. When your spouse, child, or other loved one inherits your retirement account, creditors have the power to seize it and use the funds to satisfy their claims. This means one lawsuit and POOF!—your life-long, hard-earned savings …

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Retirement Updates Amid COVID-19

Rincker Law Business/Commercial Law, Family/Matrimonial Law Leave a Comment

On May 4, 2020, the Internal Revenue Service (IRS) published questions and answers regarding retirement provisions in Section 2202 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. In addition to providing aid for individuals and businesses, the CARES Act increases accessibility to funds and loans from certain retirement plans and accounts. The information the IRS recently published clarifies …

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How Does an IRA Fit Into Your Estate Plan?

Rincker Law Estate Planning Leave a Comment

When you think of IRAs, you probably think of retirement. But what happens to your IRA money after you’re gone? The answer depends on how you go about creating your estate plan and selecting beneficiaries, and you might be surprised to find out that your money could end up with the wrong people or cause an unexpected tax bill if …

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Determining Your Goals For the Estate Planning Process

Rincker Law Estate Planning Leave a Comment

For those of you who have decided to charge ahead with an “estate plan” for your family, it’s important to really think about your goals of the estate planning process.  Your objectives will help guide the entire estate planning process and will be a guidepost to your estate planning attorney in helping formulate the correct game plan.  As a caveat, …

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Types of Farm Leases: Cash-Rent vs. Crop-Share

Rincker Law Ag Extension Education, Business/Commercial Law, Food & Ag Law, Landlord-Tenant Law, Property Law 2 Comments

Happy Friday!  Last week, I stumbled across Rusty Rumley’s powerpoint presentation on “Agricultural Contracts and the Leasing of Land.”  Rusty does a great job giving an overview of the building blocks.  He’s a great teacher — he was one of my instructors in this agriculture law course last year— and I suggest looking at his presentation along with other useful …

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Thinking About the Next Generation

Rincker Law Estate Planning, Family/Matrimonial Law, Food & Ag Law Leave a Comment

The National Agriculture Law Center has reported that approximately 90% of agricultural operations do not survive the transition to the next generation.  I have to say- that statistic is a bit alarming.  The primary reason for this is poor succession planning.  Estate planning is just one part of workable succession plan.  Estate planning focuses on asset distribution while succession planning …

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Tradition and Technology

Rincker Law Ag-vocacy, Conferences and Meetings, Food & Ag Organizations 3 Comments

Last week I spoke to the New York Farm Bureau (“NYFB”) Young Farmers and Ranchers (“YF&R”) about finding the right balance between tradition and technology.  I thought that I would share a few thoughts from my presentation here. 1.  The Use of Technology in Agriculture Is Traditional.  Farmers and ranchers have always used technological advancements to increase efficiency, quality, safety, …

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Lots of Upcoming Events on the Horizon. . .

Rincker Law Conferences and Meetings, Food & Ag Law, Food & Ag Organizations, Food & Ag Policy, Social Media and Technology Leave a Comment

I’m very excited for a busy winter with agriculture conferences and events.  I love being a New Yorker and living in NYC but it is always nice to get a break from the hustle and bustle and be around others that share my passions and interests.  Here are a few agriculture events coming up that I will be attending: 1. …

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