FSA fines and censures two mortgage brokers for fraud

first_img THE FINANCIAL Services Authority (FSA) has banned one mortgage broker and fined another for committing “reckless business practices”, which it said led to false and misleading mortgage applications made to lenders. Ngozika Louise Ogboru, who ran Harrow based JN Finance UK, has been banned by the financial watchdog after it found that advisers at her firm were “able to submit false and misleading mortgage applications to lenders” using her details. Ogboru was the only approved broker at JN Finance to implement “adequate systems and controls”, said the FSA.Meanwhile, Ronald Winton from Mortgage Healthcare in Dundee has been fined £31,500 by the FSA and suspended from holding a senior position at a financial services firm for the next two years for leaving his broking business under the management of two non-approved advisers. FSA director of enforcement, Margaret Cole said: “Ogboru and Winton were not of sufficient calibre to run their firms to the standards expected by the FSA.” Ogboru would have been fined £65,000, but the fine would have caused serious financial hardship. Show Comments ▼ FSA fines and censures two mortgage brokers for fraud Tuesday 31 August 2010 9:07 pm whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute Workoutcenter_img whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof KCS-content Share Tags: NULLlast_img read more

IPL 2021 suspended: Survey indicates decline in IPL interest this year

first_imgCricketIndian premier leagueIndian Premier League 2021Latest Sports News By Kunal Dhyani – May 5, 2021 Latest Sports News Facebook Twitter Previous articleIPL 2021: After bowling coach L Balaji, CSK’s batting coach Michael Hussey tests positive for COVID-19Next articleIPL 2021 Suspended: 5 big mistakes made by BCCI that led to postponement of IPL 2021 Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. F1 French GP 2021: Max Verstappen pips Lewis Hamilton to win French GP, Perez finishes 3rd TAGSIndia COVID-19IPL 2021IPL 2021 suspendedIPL consumer surveyIPL Covid -19 SHARE WI vs SA 2nd Test Day 3 Live: Start delayed due to rain, SA lead by 149 runs – Follow Live Updates Formula 1 ICC WTC Final LIVE commentary: AIR, DD Sports to live stream & broadcast India vs New Zealand for free IPL 2021 suspended: Survey indicates decline in IPL interest this year IND vs NZ Live Streaming for free with Jio, Airtel and Vodafone Idea, Check out the best Recharge Plan Football BCCI set to incur losses of over Rs 2000 cr of the broadcast and sponsorship money earmarked for IPL 2021 which was indefinitely postponed IPL 2021 suspended: The suspension of IPL 2021 due to rising cases of COVID-19 inside BCCI’s pristine-looking bio-bubble has led to massive financial losses for both the board and broadcaster Star. If BCCI is set to lose over Rs 2,000 crore due to the suspension of the tournament, Star will lose out from the advertisers who shell anywhere between 100-150 crore per season. However, as per a consumer survey conducted by the Indian Institute of Human Brands (IIHB) and the Rediffusion Consumer Lab (Red Lab), the signs of losses were already there.As the IPL 2021 began on April 9, IIHB and Red Lab reached out to a small group of 482 consumers (271 Males, 211 Females) asking them about their behaviour. As per the survey, from 81% positive responses to just 58% over three weeks. Cricket Latest Sports News WTC Final 2021 LIVE: 5 Ways to watch India vs New Zealand World Test Championship LIVE Streaming for free Freight & Shipping Quotes | Search AdsResearch & Compare Freight & Shipping QuotesEnjoy Affordable Freight & Shipping Services With These Service ProvidersFreight & Shipping Quotes | Search Ads|SponsoredSponsoredYourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredRaid Shadow LegendsDon’t play this game if you are under 40 years oldRaid Shadow Legends|SponsoredSponsoredSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Ads|SponsoredSponsoredPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredGundry MD Bio Complete 3 SupplementTop Surgeon: This Simple Trick Empties Your Bowels Every Morning (Almost Immediately)Gundry MD Bio Complete 3 Supplement|SponsoredSponsored Cricket Cricket WTC Final 2021: India vs New Zealand Full Squad, Schedule, Live Streaming, Date, Time, Venue all you need to know World Test Championship final Cricket RELATED ARTICLESMORE FROM AUTHOR Tokyo Olympics: Deepika Kumari to be sole entry to Tokyo Games as Indian women’s recurve team fails to qualify by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeIPL 2020: Bad news for Sunrisers Hyderabad’s Jonny BairstowIPL 2020 : Srikanth and fans slams MS Dhoni, says ‘wasted 15 Cr on Jadhav & Chawla’Free Fire Redeem Codes for April 13th, Best ways to Redeem themAlso Read: IPL 2021 Revenue Losses: BCCI, Broadcaster, Franchises to lose but players to be paid in full despite IPL postponementThe IPL has been suspended; the bio-bubble has burst. But were the signals – the negativity already visible? The Indian Institute of Human Brands (IIHB) and the Rediffusion Consumer Lab (Red Lab) had been tracking consumer sentiment for the past three weeks: the bomb dropped on the IPL almost on cue.“Consumers are very perceptive. They are also very sensitive. Somehow there was growing discontent with the IPL. It was seen to be an extravaganza of greed with so much death and devastation all around, but fat cat players romping around hitting sixes. Not a single black band of sympathy or support, that may have reduced the anti-sentiment somewhat,” said chief mentor of IIHB Sandeep Goyal told Economic Times.IPL 2021 suspended: Were the writings of losses already on the wall?Should the IPL 2021 be played this year? When the IPL 2021 began on April 9, after the first week the interest was positive with 81 per cent approving the decision while only 14% said no it should not have been. The rest were unsure.Also Read: BCCI set to incur losses of over Rs 2000 crore due to IPL 2021 postponementHowever, in the following weeks, the interest dropped and the responses were leaning towards negative with 37% opposing IPL as the country grappled with a massive surge in COVID-19 cases with oxygen shortage leading to deaths.Week 1: Yes- 81%, No – 14%, Maybe/ Don’t know – 5%.Week 2: Yes – 75%, No – 21%, Undecided – 4%.Week 3: Yes – 58%, No 37%, Undecided – 5%Should BCCI have conducted IPL 2021 overseas again?The trend continues similarly. As the BCCI was confident of hosting the IPL 2021 in India after successfully conducting the India-England series, the responses were mostly positives with only 18% opposing to the idea. But by Week 3, 42% said the IPL should have been hosted overseas again. The trend change as COVID-19 cases were detected inside the bio-bubbles.Week 1: Yes – 22, No – 18, Don’t care – 60%.Week 2: Yes – 27, No – 22, Don’t care: 51%Week 3: Yes – 42%, No – 14%, Don’t care 44%Also Read: IPL 2021: BCCI, franchises worried, ‘more players in DC, SRH, KKR & CSK can test positive’IPL 2021 suspended: Is IPL an escape from grief every evening amid COVID-19 crisis in India? When the tournament started, the cases began to increase and spiralled out of control in the coming weeks. Hence, in the Week 1 survey, 86% said that it provided relief from all the grief around. But as the tournament progressed, the number dipped to 62%.Week 1: Yes – 86%, No – 14%Week 2: Yes – 78%, No – 22%Week 3: Yes – 62%, No – 38%IPL 2021 suspended: Is IPL an escape from grief every evening amid COVID-19 crisis in India? When the tournament started, the cases began to increase and spiralled out of control in the coming weeks. Hence, in the Week 1 survey, 86% said that it provided a relief from all the grief around. But as the tournament progressed, the number dipped to 62%.Week 1: Yes – 86%, No – 14%Week 2: Yes – 78%, No – 22%Week 3: Yes – 62%, No – 38%IPL 2021 suspended: People’s interest in watching IPL dropped significantlyThe interest in watching also dropped gradually as the second wave ravaged India. With reference to BARC data, the viewership of IPL 2021 declined compared to IPL 2020. From 116 million unique views in 2020, it saw a dip of 9.5%, to 105 million.“Sentiment analysis always gives you early warning signals. It is then for you to pick up the signals and either act on them or ignore them,” said Navonil Chatterjee, head of the Red Lab.Week 1: Watching Less – 27%Week 2: Watching Less – 32%Week 3: Watching Less – 38%IPL 2021 suspended: Massive drop in watching ads during IPLWhile some innovative ads entertained consumers and the celebrity in ad recall remained the same, there was a gradual drop in interest in ad attraction. From Week 1’s 84%, it dropped to just 52% in Week 3.It indicates that brands were losing interest amongst the viewers amid the raging pandemic as India’s daily COVID-19 cases made headlines and world records at over 400,000. If the IPL 2021 had continued, it could have hurt the brands advertising during the IPL.IPL 2021 suspended: Missing IPL, would it matter?In Week 1, 81% of the fans said they would miss IPL if had to be postponed or suspended. In Week 2, it took a nosedive to 72% and followed it up with only 49% in Week 3. It indicates that less than half would not miss IPL if it had to be suspended.For more sports updates, follow us at insidesport.co and Moneyball for IPL players’ salaries. Cricket WTC Final Day 3 LIVE Score: Latham, Conway provide solid start; NZ 24/0 (16 ovs)- Follow Live Updates Cricket Euro 2020, Switzerland vs Turkey LIVE: Switzerland to punish hapless Turkey; Follow Live Updates Share on Facebook Tweet on Twitter Tokyo Olympics: BCCI provides fuel in Indian Olympic flame, to contribute Rs 10 crorelast_img read more

National Investment Trust Ltd (NITL.mu) 2011 Annual Report

first_imgNational Investment Trust Ltd (NITL.mu) listed on the Stock Exchange of Mauritius under the Investment sector has released it’s 2011 annual report.For more information about National Investment Trust Ltd (NITL.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the National Investment Trust Ltd (NITL.mu) company page on AfricanFinancials.Document: National Investment Trust Ltd (NITL.mu)  2011 annual report.Company ProfileNational Investment Trust Limited is a privately owned investment trust company that provides services for individuals and corporate investors. The company engages in the launching and management of equity and fixed income mutual funds for its clients. NITL invests in equity and fixed income markets. National Investment Trust Limited is listed on the Stock Exchange of Mauritiuslast_img read more

Medical And Surgical Centre Limited (MASC.mu) 2015 Annual Report

first_imgMedical And Surgical Centre Limited (MASC.mu) listed on the Stock Exchange of Mauritius under the Health sector has released it’s 2015 annual report.For more information about Medical And Surgical Centre Limited (MASC.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Medical And Surgical Centre Limited (MASC.mu) company page on AfricanFinancials.Document: Medical And Surgical Centre Limited (MASC.mu)  2015 annual report.Company ProfileMedical And Surgical Centre Limited deals within the Healthcare and Cafeteria segments where it operates hospitals in Mauritius. The company is a subsidiary of CIEL Healthcare Limited and operates hospitals under the Fortis Clinique Darné and Wellkin Hospital names, as well as runs a one day care centre under the FCD North name. Medical And Surgical Centre Limited is listed on the Stock Exchange of Mauritius.last_img read more

Palaeoclimate constraints on the impact of 2 °C anthropogenic warming and beyond

first_imgOver the past 3.5 million years, there have been several intervals when climate conditions were warmer than during the preindustrial Holocene. Although past intervals of warming were forced differently than future anthropogenic change, such periods can provide insights into potential future climate impacts and ecosystem feedbacks, especially over centennial-to-millennial timescales that are often not covered by climate model simulations. Our observation-based synthesis of the understanding of past intervals with temperatures within the range of projected future warming suggests that there is a low risk of runaway greenhouse gas feedbacks for global warming of no more than 2 °C. However, substantial regional environmental impacts can occur. A global average warming of 1–2 °C with strong polar amplification has, in the past, been accompanied by significant shifts in climate zones and the spatial distribution of land and ocean ecosystems. Sustained warming at this level has also led to substantial reductions of the Greenland and Antarctic ice sheets, with sea-level increases of at least several metres on millennial timescales. Comparison of palaeo observations with climate model results suggests that, due to the lack of certain feedback processes, model-based climate projections may underestimate long-term warming in response to future radiative forcing by as much as a factor of two, and thus may also underestimate centennial-to-millennial-scale sea-level rise.last_img read more

Snow Women’s Basketball Bests Arizona Western In Season Opener

first_imgNovember 2, 2019 /Sports News – Local Snow Women’s Basketball Bests Arizona Western In Season Opener FacebookTwitterLinkedInEmailRICHFIELD, Utah- Rachel Roberts and Reagan Yamauchi scored a combined 32 points on Friday, helping lead the Snow College women’s basketball team to a season opening, 60-48, victory over Arizona Western at the Sevier Valley Center in Richfield.Roberts, a 6-foot-0 sophomore from Carlsbad, Calif., connected on 8-of-14 attempts to score a game-high 17 points for the Lady Badgers. Yamauchi, a 5-foot-7 freshman from Soda Springs, Idaho, was credit with 15 points on 6-of-11 attempts from the field. Sophomore Micah Gustafson led the Lady Badgers with a game-high seven rebounds.Snow (1-0) will take on Eastern Wyoming on Saturday in Richfield. Game time is set for 2 p.m. at the Sevier Valley Center. Brad James Written by Tags: Arizona Western/Rachel Robets/Reagan Yamauchi/Snow College Women’s Basketballlast_img read more

Sajid Javid launches new house building agency

first_imgHome » News » Land & New Homes » Sajid Javid launches new house building agency previous nextLand & New HomesSajid Javid launches new house building agencyHomes England will now take the lead in helping achieve 300,000 homes-a-year average for new builds, backed by huge budget.Nigel Lewis11th January 201801,673 Views A new national homes building agency has been launched to get more new builds off the ground in the UK, it has been revealed.Originally announced in the Autumn 2017 budget, the new agency is now up and running and busy on several fronts, including lending £45 million through the Home Building Fund to create 4,500 homes.Yesterday Housing Secretary Sajid Javid (pictured, below) visited Alconbury in Cambridgeshire, where the government is helping fund 5,000 homes on the 1,420 acre site.“This government is determined to build the homes our country needs and help more people get on the housing ladder. Homes England will be at the heart of leading this effort,” he said.The agency will have new land buying powers and will focus on acquiring plots in areas where people want to live, support smaller and more innovative builders and bring more brownfield land on stream among the 16,000 unused sites recently identified by local authorities.The new agency, which will replace the former Homes & Communities Agency, is a key plank in the government’s plans to build on average 300,000 homes a year by the mid-2020s.Nick Walkley (pictured, right) will head up the new agency. He joined the HCA as Chief Executive in March 2017 and before that held several local government jobs including heading up both Haringey and Barnet London boroughs.“As Homes England, we will use our land, finance and expertise to expand the delivery of affordable new homes and connect ambitious partners to remove barriers to house building,” says Nick.     Homes England Homes and Communities Agency HCA nick walkley Sajid Javid January 11, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

USS Porter Starts First Forward-Deployed Patrol

first_img View post tag: first Authorities The Arleigh Burke-class guided-missile destroyer USS Porter (DDG 78) departed Naval Station Rota, Spain, on June 29, 2015, to begin her first forward-deployed patrol in support of ballistic missile defense of Europe and Operation Atlantic Resolve.Porter’s forward presence in the Mediterranean and Black Seas, and the ship’s participation in combined underway tactical exchanges with allies and partners will help the United States continue its efforts to strengthen maritime partnerships.Porter, the third of four Arleigh Burke-class guided-missile destroyers to be forward deployed in the U.S. 6th Fleet area of operations, arrived in Rota in April.The vessel is on a routine patrol conducting naval operations with allies and partners in the U.S. 6th Fleet area of operations in order to advance security and stability in Europe.[mappress mapid=”16368″]Image: US Navy June 30, 2015 View post tag: USS Porter View post tag: Deployed View post tag: europe View post tag: Navy View post tag: forward Back to overview,Home naval-today USS Porter Starts First Forward-Deployed Patrol View post tag: Naval View post tag: Patrol View post tag: News by topic Share this article USS Porter Starts First Forward-Deployed Patrollast_img read more

Supreme Court Suspends Attorney For Mismanaging Funds

first_imgSupreme Court Suspends Attorney For Mismanaging FundsIL for www.theindianalawyer.comAn Indianapolis attorney accused of mismanaging trust funds for both himself and other attorneys and clients has been suspended from the practice of law in Indiana for 180 days.According to the disciplinary order handed down Wednesday, Tarek E. Mercho of Indianapolis law firm Mercho Caughey “misappropriate funds from his attorney trust account over a period of several years, making dozens of disbursements of client funds for purely personal purposes.” On at least two occasions, Mercho disbursed funds that were held in trust for another attorney and that attorney’s client.After the Indiana Supreme Court Disciplinary Commission began an investigation into Mercho’s conduct, the attorney made false statements to the commission and submitted a client ledger with false entries to extricate himself from the disciplinary process, the order says. Both the commission and the hearing officer found that Mercho had violated Professional Conduct Rules 1.15(a) and 8.1(a) and Admission and Discipline Rules 23(29)(a)(4)(2016) and 23(29)(1)(5)(2016) in connection with the funds mismanagement and his dishonesty during the investigation.The commission also alleged that Mercho violated Professional Conduct Rule 8.4(b) and 8.4(c) on the basis that his financial mismanagement was criminal in nature. However, both the hearing officer and the court, with Justice Robert Rucker acting as chief justice, found that the commission did not sustain its burden of proof on those charges.The hearing officer recommended a 90-day suspension followed by a one-year probationary period, while the commission recommended a one-year suspension without automatic reinstatement. The court ultimately chose to impose a 180-day suspension effective May 10, with 90 days actively served and the remaining time stayed subject to completion of at least one year of probation, including trust account monitoring by a certified public accounting.Mercho’s probation will remain in effect until it is terminated pursuant to a petition filed under Admission and Discipline Rule 23(16), the court wrote in its order.  Additionally, Mercho may not undertake any new legal matters between now and May 10, and the costs of the proceeding are assessed against him.FacebookTwitterCopy LinkEmailSharelast_img read more

ESTATE, TAX AND PERSONAL AND BUSINESS PLANNING by Randall Craig

first_imgESTATE, TAX AND PERSONAL AND BUSINESS PLANNING by Randall CraigThe information that follows summarizes some of the current issues in the areas of estate, tax and personal and business planning which may be of interest to you. Although this information is accurate and authoritative, it is general in nature and not intended to constitute specific professional advice. For professional advice or more specific information, please contact my office.SWIRCA & More 2016 Online Auction & Tailgate Party. This wonderful annual auction event will be held on Saturday, February 27, 2016. For those readers who are unable to attend, please consider making a donation to this outstanding organization which provides essential help to people of all ages. Southwestern Indiana Regional Council on Aging (“SWIRCA & More”) provides assistance to children as well as disabled adults and the elderly. Its principal goal is to enhance opportunities for independent living. SWIRCA & More provides a myriad of services which include serving more than 200,000 meals each year in its six-county service area covering Gibson, Perry, Posey, Spencer, Vanderburgh and Warrick counties, screening persons who may require admission to a nursing home to be sure that the need for long-term care exists and that people are not simply being “warehoused” when other arrangements or facilities would be more appropriate, and helping the disabled to circumnavigate the complex processes of the Medicare and Medicaid programs. SWIRCA & More also helps retirees and disabled individuals make choices pertaining to their insurance, including Medicare supplemental coverages and Part D prescription coverage. This is a very short list of only a few of the many services provided by SWIRCA & More. There is virtually no one who will not be impacted by SWIRCA & More at some point in his or her life, and when one considers the aging nature of our population, it is likely that our families will benefit from the efforts of SWIRCA & More staff at several different times during our lives. Please consider this wonderful organization when making decisions about the charities that you intend to support. A donation request letter, including additional information, is enclosed with this newsletter. Tax deductible donations may be made payable to SWIRCA & More and sent to Post Office Box 3938, Evansville, Indiana 47737-3938. Please consult the website of SWIRCA & More www.swirca.org and review the enclosed information accompanying this newsletter.Importance Of Marital Agreements. The use of prenuptial and postnuptial agreements can be extremely important in the context of asset protection and estate and lifetime planning. Many people erroneously believe that the sole or principal purpose of a prenuptial agreement is to predetermine what will happen in the event of a dissolution of marriage. In fact, important aspects of prenuptial and postnuptial agreements include protecting a spouse’s children in the case of a second marriage and setting the stage for protecting the assets of one spouse in the event that the other spouse requires long term care. During the process of prenuptial agreement planning, the couple will often come to realize that their assets are exposed if one spouse-to-be later requires long term care. While the Medicaid rules disregard the existence of a marital agreement, nevertheless a marital agreement can bring about the process of planning for the(Continued on Reverse Side) possibility of requiring long term care and considering various planning arrangements, whether through the utilization of a particular kind of a trust arrangement, or possibly even the purchase of long term care insurance for one or both of the spouses. In my practice, marital agreements are more important for their planning uses and implications than in the context of divorce, particularly since I do not practice in the area of marital dissolutions. In the absence of a prenuptial or postnuptial agreement, when the first spouse dies, the surviving spouse is entitled to a share of the deceased spouse’s estate, sometimes called the “forced share” or an “elective share.” If that marital right is waived, as it will be in most cases, other arrangements can still be put in place to protect the surviving spouse, if desired. Then, should the surviving spouse who may be in a long term care facility not elect the forced share, because he or she has no right to do so, the Medicaid eligibility of the surviving spouse can be protected, or established if not eligible, while avoiding a period of Medicaid ineligibility or the possible dissipation of the predeceasing spouse’s estate. Marital agreements can also be very effective tools for asset protection by defining the specific assets that belong to one or the other spouse, and determining what will happen in the event of transfers between spouses. In a second marriage situation, especially when there are children, and whether or not both spouses are older or one of the spouses is infirm, marital agreement planning is an extremely important aspect of the estate and lifetime planning process.Another Reminder About Beneficiary Designations. In my practice, I am incessantly confronted with estate plans involving either an inter vivos trust (whether in the form of a revocable living trust or an irrevocable trust) or a trust under a last will and testament in regard to which beneficiary designations have been made inappropriately. Numerous previous articles in my newsletters have addressed such issues in various contexts. Although I have never kept a close count, I would wager that in the vast majority of cases, perhaps as many as 75 percent or more, a person’s or a couple’s beneficiary arrangements pertaining to their life insurance, IRAs and other retirement plans do not comport with the estate planning arrangements that they have set up. In many cases, a trust has been established, and the life insurance should have been designated to pass to the trust or to a specific sub-trust, but in fact the life insurance designation does not even contemplate that it would be paid to a trust, resulting in the life insurance proceeds passing to the wrong beneficiaries or outright directly to beneficiaries when a trust for the beneficiaries was intended. Often the payment will be paid through the estate, necessitating probate steps, when the beneficiary designation could have been named directly to the trust. A beneficiary designation can even be made directly to a trust which will come into existence under a last will and testament, without the life insurance proceeds going through the estate, thereby avoiding probate, even though the trust is a testamentary trust. In the case of IRAs and other retirement plans, the qualified dollars often will be designated to be paid directly to the trust, which in most instances is incorrect unless the beneficiary designation form is designed very carefully. Unfortunately, the vast majority of beneficiary designations are not properly implemented. This article will serve as another reminder, which probably cannot be repeated too often, that in conjunction with your estate planning, please be sure that you are getting proper guidance from your financial and legal advisors regarding the proper implementation of beneficiary designations. Many investment advisors, unfortunately, are more focused on the products that they are working with rather than the plan that the benefits will be funded with, and it is incumbent upon you to check with all of your advisors to be sure that all of the tax, legal and financial implications have been considered. There can be significant tax differences when retirement benefits are paid in the wrong way or to the wrong beneficiary.Additional Information. Future issues of this Newsletter will address other issues of current interest. Please contact my office with any questions that you might have. FacebookTwitterCopy LinkEmailSharelast_img read more