Yesterday the U.S. Supreme Court ruled the daughter of a DuPont Company worker is out of luck in her effort to collect his retirement benefits.

The justices, in a unanimous decision, said Kari Kennedy can collect nothing from DuPont because companies are bound by what a worker puts down on forms designating who is to receive retirement and other benefits after his death.

In this case, William Kennedy divorced his wife of 22 years and she waived her rights to the retirement money in their divorce decree. Kari Kennedy said her father wanted her to have the money after his death. But Kennedy never changed his beneficiary on the retirement account, after the divorce was final and the Court ruled that DuPont was right to pay $402,000 to Liv Kennedy, his ex-wife.

Divorce and Estate Planning lawyers are trained to advise their clients to check beneficiaries designations after a divorce, and to contact their retirement plan and annuity administrators to request change of beneficiary forms. Unfortunately many like Mr. Kennedy never get around to following the advice.

This is the time of year when most of us are pulling together our income records to take to the tax preparer. As you fumble through those retirement account statements, and search for records relating to taxes and investments - take an extra moment to think about who you might have named as your beneficiaries on retirement accounts, life insurance and annuities. If need be, call your agent or custodian and ask for a copy of the beneficiary designation.

If there has been a major change in the composition of your family due to birth, death, marriage, divorce or just a change of heart, consider making changes to your estate plan documents and beneficiary designations. Don’t just say your going to do it, do it.

James D. Perry

How about gifting those beaten down stocks?

As folks across the country opened up their brokerage statements, one thing was apparent–their stocks are worth less than they were the previous month or year – or ever.

With the dramatic decline in the stock market, many of us are holding stocks whose value has declined substantially. What to do? Well, this article in the Wall-Street Journal suggest you might consider gifting those stocks to family members as the tax benefit from the gift is that much greater.

With a new administration taking over the White House, Democrats controlling Congress, and the previous administration’s estate and gift tax measures reaching the end of their life cycle, most experts agree we can expect new estate and gift tax policies in 2009.

You don’t need a crystal ball to suspect the tax savings in the previous legislation will probably erode. The question is how much. So during these trying economic times, the advice in the Wall-Street Journal may be a good option to consider for your battered stocks.

Remember, we are always here to help.