The Paley Rothman Blog

Paley Rothman shares this library of resources with clients and friends of the firm to help them stay ahead of legal and business developments and trends. Here, you will find helpful tips and tools written by our attorneys.

Employment Law, Retirement Plans

Employers required to offer retirement plans?

Maryland businesses take note – the Maryland Senate and House are each considering bills which, if passed, would require businesses employing 5 or more employees to offer a qualified retirement plan (read: 401(k) or IRA) or join a state-created pool retirement fund. If the law takes effect, Maryland will be the first state in the nation to impose mandated retirement savings.

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Estate & Trust Administration, Estate Planning

Changing Retirement Plan Beneficiaries

You have just spent months working with your lawyer to draft an estate plan that suits your needs. You created one trust for your beloved second wife and another trust for your equally beloved children from your first marriage. In order to take advantage of the unlimited marital deduction currently available under the federal estate tax laws, you have made your kids the beneficiaries of your current wife’s marital trust upon her death. She will hopefully live a long time and be able to enjoy the benefits of your successful career and when she dies there will still be assets to provide for your children.

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Retirement Plans

Windsor, DOMA and Qualified Retirement Plans

As we previously reported, on June 26, 2013, in the case of U.S. v. Windsor, the U.S. Supreme Court held that Section 3 of the Defense of Marriage Act (DOMA) – which defined “marriage” as “only a legal union between one man and one woman as husband and wife” and “spouse” as only “a person of the opposite sex who is a husband or a wife” – was unconstitutional under the Fifth Amendment.

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