It is with heavy hearts that we mark the passing of Paula Leonard. Paula recently retired after over thirty years with Mulhern and Scott. She will be dearly missed by all of us. Visiting hours will be held at the Farrell Funeral Home at 684 State Street in Portsmouth, New Hampshire, on Thursday, September 8th, 2022, from 5:00pm to 8:00pm.
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Mulhern & Scott’s newest attorney, James Mulhern, was recently featured in the New Hampshire Bar Association’s newsletter in an article written by Kathie Ragsdale. The article features James’ many accomplishments, from graduating from the Schulich School of Music at McGill University in Montreal, to earning a master’s degree in Accounting and Finance from the London School of Economics and receiving his law degree magna cum laude from Harvard Law School, to authoring 20+ crossword puzzles in the New York Times. “What makes him such a unique talent is his preternatural intuition,” he [Ashton Anderson] says of his friend [Mulhern]. “He has an incredible ability to consider a complicated thing, divine its essence, and render a quick and accurate judgment on it. This intellectual compass almost always guides him in the right direction, but he will also complement his instincts with deep analysis to ensure the quality of his work.” Click here to read the full article.  James Mulhern has a leisure moment with one of his favorite pastimes, crossword puzzles.
(Credit: NH Bar Association) After thirty- one years with the firm, Paula retired this past June from her role as paralegal.
Paula joined Mulhern & Scott in 1990 as a member of our estate planning team. For over 30 years she specialized in drafting and amending clients’ estate planning documents and assisted clients in re-titling their assets in the name of their Revocable Trusts and preparing sophisticated beneficiary designations for client’s life insurance, retirement accounts, and annuities. Paula was a valuable member of the Mulhern & Scott team for many years. Though it was a bittersweet transition, we wish her all the best in the next chapter of her life. Future communications regarding estate planning needs should be addressed to Rachel Sans at rachel@mulhernlaw.com or Anthony Conti at anthony@mulhernlaw.com. For more information on Rachel and Anthony, as well as on the rest of our team, please visit the "Our Team" page of the website. Cornell Law School Presentation- Estate Planning in 2021: New Challenges, New Opportunities3/29/2021
David and Sally Mulhern spoke recently at Cornell Law School to a group of distinguished colleagues and alumni on the subject of potential tax law changes in 2021 and other legal issues currently affecting estate planning and trust law. Please click the link below to view the full presentation. Estate Planning in 2021: New Challenges, New Opportunities (panopto.com)  Exciting news from Mulhern & Scott! We have recently purchased a new building in Portsmouth and are moving the firm! Our new building is located at 381 Middle Street, Portsmouth, NH 03801. You can find directions to our firm on our "Contact Us" page. There is parking behind the building for our clients. We hope to see you there soon!  To: All Clients
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 | Sally Mulhern was chosen by her peers as 2016 "Lawyer of the Year" (Best Lawyers in America, Manchester, New Hampshire district). |
Estate and gift tax update: The estate and gift tax exemption for 2016 is $5.45 million and the annual exclusion amount for gifts remains at $14,000.
The IRA charitable rollover was made permanent on December 18, 2015, and is retroactive to January 1, 2015. This means that individuals who are 70 ½ or older may make “qualified charitable distributions” of up to $100,000 from their IRAs without paying any income tax on the distribution, and the distribution may serve to satisfy their required minimum distribution for a calendar year.
The Supreme Court issued an important ruling in 2014 holding that inherited IRAs are not retirement accounts for purposes of federal bankruptcy law. This means that inherited IRAs are subject to claims of creditors and additional considerations may wish to be undertaken to protect IRA assets that are passed down to the next generation.
Sally Mulhern has been appointed to the Complaint Screening Committee, to serve a three-year term, by the New Hampshire Supreme Court. The Committee screens grievances filed against New Hampshire lawyers.
On June 30, 2015, the Maine Legislature passed legislation setting the Maine estate tax exemption amount at the Federal level for decedents dying in 2016 and beyond. The Federal estate tax exemption amount for 2015 is $5.43 Million (indexed for inflation). This is an increase from the $2 Million Maine estate tax exemption amount currently in effect. In light of this change, Maine clients may wish to have their estate plans reviewed.
Kelli was recently quoted in a New Hampshire Magazine article regarding the importance of making a Will. The article can be found here.
The revised 3rd edition of Sally's book, “Estate Planning To Die For: An Insider's Guide For Financial Professionals,” is now available. The book has received accolades from the financial community. For more, click here.
Expert Beacon, a leading publisher on the topic of trust and estate law, asked Sally Mulhern to write an article on employer stock held in qualified plans. The article can be found here.
Sally and David Mulhern were recently featured prominently in a Seacoastonline.com article discussing recently passed legislation allowing for lifetime approval of Wills and Trusts in New Hampshire. The article can be found here.
Sally and Kelli, as members of the New Hampshire Trust Council, were very active and instrumental in the passage of new legislation allowing for lifetime establishment of the validity of Wills and Trusts. For more, click here.
David and Sally recently spoke at a presentation sponsored by Cornell University Office of Trusts, Estate, & Gift Planning. They discussed sophisticated estate planning options and charitable giving techniques.
Sally was a recent guest on two radio shows originating in San Diego, California. She discussed various issues associated with recent changes in the federal estate tax laws.
David Mulhern has co-authored an article with David P. Lyons, Esq., entitled “New Hampshire Creditor Protection Trusts: A Brief Practical Guide For New Hampshire Lawyers.” It has been accepted for publication in the NH Bar Journal and a copy of the article is available here.
David Mulhern recently gave a presentation on New Hampshire Asset Protection Trusts to a group at Discover Portsmouth. A copy of his presentation outline can be found here.
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