Feld_Hyde_Newsletter-Oct

Six shareholders at Feld Hyde were selected for the 2010 edition of The Best Lawyers in America, a peer-reviewed publication. L.B. Feld, Greg Hyde, Leonard Wertheimer, Dale Stone, and James Coomes were named in the Trusts and Estates specialty. Bill Bryant was named in the Tax Law specialty.
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Feld Hyde shareholder Dale Stone was recently honored at the Estate Planning Council of Birmingham's 50th Anniversary Gala. At the event, the council honored its past presidents, including Dale who served as president in 2008.
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Feld Hyde recently showed its support for the American Heart Association by participating in the 2009 Heart Walk. A group of Feld Hyde attorneys and staff, led by attorney Jim Reilly, participated to raise money for the American Heart Association. Shareholder Bill Bryant is a former National Board Chair of the American Heart Association making this year’s walk is an extension of Feld Hyde’s continued support of the Heart Association.

Kay Wilburn, a shareholder at Feld Hyde, was one of thirteen Alabama women women chosen for the 2009 Women's Exchange Profiles. Kay's profile was featured in August and can be viewed here. The Women's Exchange recognizes, honors and promotes the accomplishments and contribution of Alabama women.

Tax attorneys, CPAs, and financial planners have emphasized the importance of charitable planning for years. Not only can an individual’s charitable objectives be met—but significant taxes can be saved. Charitable planning does not have to be overly complex or complicated. There are available to every individual some very simple and basic techniques that will accomplish charitable objectives and save taxes!
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The Roth IRA: Is It Time to Convert?

Someone who has a significant balance in a traditional IRA may find that it makes sense from an estate planning perspective to convert it to a Roth IRA. For many, the Roth offers a number of specific advantages. However, due to the law’s current (but soon to expire) income limitations and depending on one’s personal situation, a conversion will be most advantageous if made at the right time: either now, in 2010, or in stages over two or more years.
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Giving Away Your Business Without Giving Away the Store

If you own a family business, a smart succession plan is essential. If you're like most business owners, a significant portion of your wealth is tied up in the business, so you'll be relying on it to generate income for your retirement and to provide for your family. Unfortunately, only one-third of family businesses survive the transition to the next generation. Succession planning involves a variety of complex issues, such as identifying and grooming a successor, determining how to treat family members who aren't involved in the business, and ensuring sufficient liquidity to pay taxes and other expenses.
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Estate Planning Red Flag — Your Child is
on the Title to Your Home or Other Assets

One of the most common, and costly, estate planning mistakes is to own property jointly with one’s child. Many people hold property — such as homes, bank accounts, investments or automobiles — with their children as joint tenants with right of survivorship. Their goal is to avoid probate and to ensure that when they die the property is transferred to their children automatically without the need for a trust or other estate planning vehicle. But there are many problems with this approach. Fortunately, they can be avoided with properly drafted trusts.
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This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and accordingly assume no liability whatsoever in connection with its use. ©2009 ESTso09