January 1 Brings New Changes in Overtime Rules

As of January 1, 2020, federal regulations will change, and an estimated 1.3 million more workers will become entitled to overtime pay. Employers may have employees not currently overtime eligible who may become eligible due to changes in the new salary and compensation threshold levels for exempt employees.

Among other things, the new overtime rules update the earnings thresholds necessary to exempt executive, administrative, or professional employees from the Fair Labor Standard Act’s minimum wage and overtime pay requirements. Although there are exceptions, generally, an employee who makes less than $684/week will become eligible for overtime pay, regardless of whether they are compensated on a salary or hourly basis and regardless of whether they otherwise meet the “duties test” for the executive, administrative, or professional exemption. The new standard salary level of $684 per week is an increase from the standard salary level previously in effect of $455 per week.

If you have questions about whether the overtime rules impact your workplace or for more information, please contact the Sheehey employment lawyers at (802) 864-9891 or click here.

Mark E. Melendy to Speak at 2019 Tri-State Trust Forum

Sheehey Attorney Mark E. Melendy will speak at the 2019 Tri-State Trust Forum.  This two day conference will be held September 16-17 at the Marriott Residence Inn in Portsmouth, NH and is hosted by the New Hampshire Bankers Association in cooperation with the Maine Bankers Association and Vermont Bankers Association, Inc. Trust Committees.  Mark’s presentation will focus on state income taxation of trust income.

Mark’s practice at the firm focuses on estate planning, business succession planning, corporate law and estate administration and tax planning.  Mark was a member of the joint bar and banking committee charged with preparing the Vermont Trust Code for legislative approval.

For more information on this conference click here.

Daphne Moritz to Present on Inherited IRAs in Estate Planning

On October 2, 2019, Sheehey Furlong & Behm P.C., Estate Planning Attorney, Daphne Moritz, will present a national teleconference on Inherited IRAs and Estate Planning through the National Business Institute. This teleconference is designed for attorneys and also benefits accountants, CPAs, trust officers, and paralegals seeking to increase their knowledge of IRA rules and trusts. The conference will focus on IRA rollovers and minimum distribution rules to help clients maximize the benefits of inherited IRAs after the Supreme Court’s 2014 Clark v. Rameker decision. Topics include clarifying required minimum distribution rules and the best ways to comply; determining whether an IRA trust is a wise choice for your clients; and how to resolve multiple beneficiary challenges.

To register click here: https://bit.ly/2lBKHSw