Daphne Moritz to Present on Inherited IRAs in Estate Planning

On November 28, 2018, 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://www.nbi-sems.com/ProductDetails/81367ER?ctname=SPKEM

Sheehey Welcomes Two Attorneys to the Firm

Sheehey Furlong & Behm, is pleased to announce that attorneys Lewis K. Sussman and Alexandrea L. Nelson have recently joined the firm.

Lewis K. Sussman brings more than 40 years of experience as a real estate and estate planning attorney.  Prior to joining the firm, Lewie practiced at the law firm of Pierson Wadhams Quinn Yates & Coffrin, LLP for many years. Lewie’s practice focuses on commercial real estate transactions, estate planning and administration, and general corporate work.  He is recognized by The Best Lawyers in America for his work in Real Estate Law.  Lewie is admitted to practice in Vermont and the United States District Court for the District of Vermont. He is a graduate of Gonzaga University School of Law.

Alexandrea L. Nelson has joined the firm as an associate attorney.  Prior to joining the firm, Alex served as a federal court judicial law clerk for three years.  First, she served as a law clerk to District Judge Dee V. Benson in the United States District Court for the District of Utah. Next, she clerked for Magistrate Judge Paul M. Warner, also in the United States District Court for the District of Utah.  Most recently, she clerked for Judge Peter W. Hall in the United States Court of Appeals for the Second Circuit.  Her practice focuses primarily on commercial litigation. Alex graduated first in her class and Order of the Coif from the University of Utah S.J. Quinney College of Law.  She served as the managing editor of the Utah Law Review and a member of the SJQ Corporate Transactional Law Team.

Sheehey Litigator Kevin Lumpkin Presents at VBA Pro Bono Conference

On October 18, 2018, Sheehey attorney Kevin A. Lumpkin moderated a panel at the Vermont Bar Association’s Pro Bono Conference at the Vermont State House in Montpelier called “Landlord Tenant 101.” Kevin presented along with three other Vermont attorneys, addressing common topics that arise in landlord-tenant law with an emphasis on pro bono representation.  In 2016, Kevin won the Vermont Bar Association’s Distinguished Pro Bono Service Award for his work representing clients at a legal clinic at the Chittenden Superior Court.  Since 2016, Kevin has served on the Vermont Bar Association’s Pro Bono Committee.

Five Sheehey Attorneys Named to the 2019 Best Lawyers in America© List

Sheehey Furlong & Behm P.C. is pleased to announce that The Best Lawyers in America named five Sheehey attorneys to its 2019 Best Lawyers in America list.

Diane M. McCarthy has been recognized by Best Lawyers® for her work in Banking and Finance Law, Corporate Law, and Real Estate Law.  Diane has been with the firm since 1997 and is a principal of the firm.  She advises and represents clients in commercial real estate matters, including purchase and sale, leasing, and other real estate-related matters. Diane also advises clients in connection with business matters, including the formation, dissolution, purchase, and sale of Vermont business enterprises.  Diane has been involved in numerous merger and acquisition transactions in Vermont over the past several years.

Craig S. Nolan has been recognized by Best Lawyers for his work in White-Collar Criminal Defense.  Craig is a principal of the firm and focuses on complex civil litigation, white collar and serious felony criminal defense, and internal investigations. As part of his litigation practice, Craig defends health care entities and professionals in malpractice actions and before administrative bodies, and represents businesses in employment actions. Craig has tried more than twenty-five cases to juries in the federal and state courts of Vermont, and he regularly appears before the United States Court of Appeals for the Second Circuit and the Vermont Supreme Court.  Prior to joining the firm, Craig served as an Assistant United States Attorney in Burlington and Rutland, Vermont.

R. Jeffrey Behm has been recognized by Best Lawyers for his work in Commercial Litigation, General Practice Criminal Defense, and White-Collar Criminal Defense. Jeff is a principal of the firm and focuses on litigation. He joined the firm in 1990 after serving as an Assistant United States Attorney in Washington, D.C. and Vermont and as a trial attorney in the Federal Trade Commission’s Bureau of Competition. Jeff has tried more than one hundred jury trials and has handled numerous appeals in both state and federal courts.

Michael G. Furlong has been recognized by Best Lawyers for his work in Corporate Law and Mergers and Acquisitions Law.  Michael joined the firm in 1983 and is a principal of the firm. His practice focuses on business and transactional matters. He provides general representation to a variety of Vermont-based and regional business enterprises. His clients include financial institutions, health care providers, real estate development firms and technology ventures. He represents and advises clients in connection with business organization, mergers and acquisitions, financing transactions, the purchase, sale, development and leasing of commercial real estate, and other business-related matters.

James W. Spink has been recognized by Best Lawyers for his work in Arbitration, Mediation, and Personal Injury Litigation on behalf of both Defendants and Plaintiffs.  Jim joined the firm in 2011 and is a principal of the firm.  Jim is a seasoned trial attorney with 35 years of experience, and he has tried over 125 cases to verdict. Although he maintains an active litigation practice, much of Jim’s current professional activity is devoted to mediations and arbitrations. He has performed over 3,000 mediations, early neutral evaluations, and evidentiary hearings at arbitration over the years.

Best Lawyers is regarded as the definitive guide to legal excellence and selections are based solely on peer review. Corporate Counsel magazine has called Best Lawyers “the most respected referral list of attorneys in practice.”

About Sheehey Furlong & Behm P.C.

With offices in Burlington, VT and Woodstock, VT, Sheehey has been solving complex legal problems for Vermont, regional and national businesses and individuals for over 90 years. Sheehey provides a full range of legal services within a variety of practice areas, including corporate services/mergers and acquisitions, employment, litigation, real estate, banking and financial services, health care, energy, mediation, arbitration and estate planning. For more information about Sheehey Furlong & Behm P.C. visit www.sheeheyvt.com.

Save the Date: Employment Law Seminar – October 4, 2018

The employment practice group at Sheehey Furlong & Behm will host a free employment law seminar for clients and prospective clients on October 4th beginning at 1:30pm at Hotel Vermont in Burlington.  This three hour seminar is designed for business owners and HR professionals and will include an update on recent state legislative changes, with a focus on the impact of marijuana legalization, continuing challenges posed by the paid sick leave law, and limitations on wage and salary discussions in the workplace.  We will review sexual harassment in the workplace in light of the “me too movement”.  Additionally, we will offer practical tips and insights for dealing with perennial employee relations challenges, such as when to use an employment contract and how to successfully document interactions with employees.  The afternoon will conclude with a cocktail reception.

Formal invitations will be sent the week of September 3rd and will include additional seminar details.  Contact Jamie Martell at jmartell@sheeheyvt.com to request an invitation.

Jim Spink Featured on WCAX

Sheehey attorney Jim Spink was recently invited by WCAX to film a segment entitled “A Look at How Mediation Works.”

Jim is one of Vermont’s leading alternative dispute resolution specialists.  Jim has conducted more than 3,000 mediations over the course of 25+ years. He is a member of the National Association of Distinguished Neutrals and was the recipient of Best Lawyers “Lawyer of the Year” for ADR – Burlington, Vermont in 2011 and 2013. He is also recognized by Super Lawyers New England for ADR.

To view the segment click here.

Recent Changes in Federal and Vermont Tax Law & the Impacts on Estate Planning

By Mark E. Melendy

The year 2018 has been one of significant change in estate planning law, beginning with the Tax Cut and Jobs Act (the “Federal Tax Law”) which took effect on January 1, 2018 and Vermont’s new Will and Probate Law (the “Vermont Law”) which became effective July 1, 2018.  Both of these laws involve major changes and will affect how we advise you on your tax and estate planning.

Federal Tax Law

The Federal Tax Law dramatically increases the estate tax exemption amount through 2025.  The new exemption is $11.18 million per person.  With such a high exemption, the number of estates subject to estate tax will drop significantly.  That is very good news for taxpayers whose estates would have been subject to a lower estate tax exemption under the previous law.

Increased Federal Estate Tax Exemption and Stepped-Up Basis for Income Taxation

With the high estate tax exemption reducing estate tax exposure and with assets subject to estate tax receiving the date of death step-up in income tax basis, whether or not an estate tax is paid, estate planning to lessen estate taxes may not be the optimum tax plan under the Federal Tax Law.  This reality means it is important to review one’s estate plan with this new tax structure in mind.  Additionally, an important note is that gifted assets do not receive any income tax basis step-up.

Change to Personal Income Tax Deductions

There is also good news for most taxpayers on the income tax front, although the state and local tax deduction limits included in the Federal Tax Law will actually result in an income tax increase for some taxpayers.   The Federal Tax Law now limits the personal income tax deduction for state and local taxes to $10,000 per person/couple. While many people will adjust to this new reality, an opportunity exists which may allow individuals and couples to capture multiple $10,000 deductions by conveying their real estate to multiple irrevocable trusts or other appropriate entities.

Tax Savings Opportunities for Business Owners

Business activities may also be structured to take advantage of the new 20% pass thru entity deduction.  This deduction is not available to C corporations, but C corporations have the benefit under the Federal Tax Law of the much lower corporate tax of 21% instead of 35%.

Annual Gift Exclusion Increase

One additional benefit that 2018 brought, due to the inflation indexing, was an increase in the annual exclusion amount from $14,000 to $15,000.  The annual exclusion amount is the amount that an individual may give to any number of individuals in a calendar year without incurring gift taxes or even having to file a gift tax return.

Vermont Will and Probate Law

While the Vermont estate tax exemption amount of $2.75 million per taxpayer remained unchanged in the recent legislative session, a major re-write of Vermont law regarding Wills and probate administration was enacted and became effective July 1, 2018. The more notable changes are presented below.

One major change is that Vermont will now allow self-proving Wills. “Self-proving” means an affidavit signed by the witnesses is added at the end of the Will. Under previous law, the probate court would only allow a Will if either all of the decedent’s heirs at law consented to the allowance of the Will, or a hearing was held with the witnesses giving testimony to confirm the Will was properly signed.  Under the new law, the courts will allow Wills without a hearing if they are executed with the new self‑proving affidavit. This means a more streamlined process for the allowance of Wills. The benefit of self-proving Wills cannot be overstated for ease and efficiency of Will allowance, and we therefore recommend the execution of new Wills to incorporate this new benefit.

The Vermont Law also allows an executor to move forward with the sale of the estate’s assets in a more streamlined manner, if the Will specifically allows for such sales. Finally, estate administration can be significantly less burdensome if the probate estate involves no real estate, highlighting the benefit of re-titling assets, particularly real estate, in a manner to avoid probate.

Do the beneficial changes in these new laws eliminate your need for comprehensive estate planning?

There are many issues to be addressed in the estate planning process, beyond tax planning, including naming your choice of guardian, executor and trustee, avoiding probate, providing for the specific needs of your family, the complexities of second marriages and blended families, and supporting your favorite charities. So the need for a comprehensive estate plan has definitely not been eliminated – the ground rules have just shifted.

In such dynamic times, the estate planning department at Sheehey is ready to help in reviewing your current estate plan in light of these significant changes. If you have any questions, or would like to schedule an appointment to discuss how the new laws impact you, please contact us at (802) 864-9891.



While the information contained herein is intended to be accurate, it is, nonetheless, presented with the understanding that it does not constitute legal advice or professional assistance in any manner, but rather is offered to guide the discussion.  An independent investigation of the current law must always be undertaken before recommending any action or inaction on the basis of these materials.

Sheehey Sponsors Comedy Night for Recovery

Sheehey Furlong & Behm is proud to sponsor the Turning Point Center of Chittenden County’s 2nd annual Comedy Night for Recovery & Silent Auction.  This year’s event will take place Thursday, June 14th at Main Street Landing’s Black Box Theater located at 60 Lake Street in Burlington, showtime is 7:00 pm.

The Turning Point Center of Chittenden County provides a safe and drug-free space for those on the path to recovery.

For more information and to purchase tickets visit www.turningpointcentervt.org.

Sheehey Furlong and Behm Pitches for a Purpose with Lund

On May 12, 2018, Sheehey fielded a team for Lund’s first annual Pitchin’ for a Purpose Cornhole tournament at the Burlington International Airport.  The team included Sheehey attorneys Debra Bouffard and Kevin Lumpkin, as well as Jamie Martell, operations manager, Amanda Schrader, legal administrative assistant and Donna Sims, paralegal.  The firm was a bronze sponsor of the event.

In total, more than 60 teams and 200 players competed over the course of the day, and Lund raised over $85,000 dollars to support its mission of helping children to thrive and breaking cycles of poverty, addiction, and abuse.

Mark Melendy to Speak at NH & VT Council of Charitable Gift Planner’s Conference and Annual Meeting

Sheehey attorney Mark Melendy will lead a breakout session entitled “Estate Planning and Charitable Giving  After the 2017 Tax Cuts and Jobs Act” at the NH & VT Council of Charitable Gift Planner’s conference and annual meeting on June 21st at the Lake Morey Resort in Fairlee, Vermont.

The New Hampshire & Vermont Council of Charitable Gift Planners provides professional development and networking opportunities to nonprofit professionals and professional advisors across New Hampshire and Vermont. The theme of this year’s conference is Charitable Giving: Present and Future, for more information and to register click here.

Mark is a principal of Sheehey Furlong & Behm and splits his time between the firm’s Burlington and Woodstock, Vermont offices.  He has over 30 years of experience practicing law and focuses largely on corporate law, business succession planning, estates and trusts and tax planning.