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Unisys Corporation Employees: 10 Estate Planning Mistakes That Can Derail Your Legacy

'For Unisys Corporation employees, reviewing your estate plan every few years is essential to keep pace with evolving family needs, tax law changes, and shifting financial priorities.' — Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement.

'Unisys Corporation employees who revisit their estate plans regularly are better positioned to adapt to tax law changes and life transitions that could otherwise disrupt long-term goals.' — Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

How changing life circumstances and tax laws may impact the effectiveness of your current estate plan.
Key estate planning components—such as trustees, health care directives, and trust structures—that may need to be updated.
Practical steps for Unisys Corporation employees to keep their estate plans aligned with long-term financial and family goals.

Many individuals draft an estate plan—including health care directives, powers of attorney, trusts, and wills—and then set it aside for years. However, life circumstances, tax laws, and legal frameworks often shift over time. For Unisys Corporation employees managing long-term financial objectives, revisiting an estate plan every three to five years—or after major changes—helps keep the plan aligned with current needs.

Ten Signs Your Estate Plan May Be Outdated

1. Executors and Trustees: Are They Still Suited for the Role?

Executors and trustees carry major legal responsibilities, such as handling assets, filing tax returns, distributing funds, and acting on behalf of beneficiaries. These appointments may have been made under circumstances that no longer apply.

- An executor may now be unable to serve due to health, relocation, or passing.
- Professionals named in the plan may have retired or exited the industry.
- Corporate fiduciaries may have undergone mergers or changes in structure.
- Adult children listed as successors may now have other obligations or limitations.

Unisys Corporation employees may benefit from re-evaluating each fiduciary’s availability, financial awareness, and overall relationship with the family.

2. Trusts for Children: Have They Aged Well?

Trusts are often structured for minor children, outlining distribution ages and guardianship roles. But over time:

- Guardianship provisions may be unnecessary if children are now financially independent.
- Distributions set for age 25, 30, or 35 may have occurred or require adjustment.
- Direct distributions might expose funds to potential claims in divorce or lawsuits.
- Children’s maturity, spending patterns, or marital status may differ from earlier expectations.
- Beneficiary designations on insurance or retirement plans may now conflict with trust goals.

- It’s worth assessing whether trust terms and retirement designations continue to reflect intended outcomes.

3. Health Care Proxies and HIPAA Authorizations

- If HIPAA authorizations are outdated, health care agents may be blocked from accessing vital medical information.

- Without authorization, hospitals may limit updates or exclude family from treatment discussions.
- Delays can affect treatment decisions and family coordination.

Unisys Corporation employees should verify that HIPAA documents are up to date—and that adult children, particularly those living independently, have health care directives of their own.

4. Growing Wealth and the Estate Tax Landscape

As of 2025, the federal estate and gift tax exemption is $13.99 million per individual and $27.98 million for couples. The annual gift tax exclusion is $19,000 per recipient.

However:

- These elevated exemptions are temporary and expected to sunset in 2026.
- Trust formulas created under prior laws may no longer be suitable.

Unisys Corporation executives nearing the exemption limit may want to speak with advisors about reviewing their gift strategies and trust funding formulas.

5. State Residency and Legal Nuances

Estate laws differ significantly by state:

- Some states assess estate or inheritance taxes at lower thresholds than federal law.
- Community property vs. common law distinctions can change how assets are divided.

If a Unisys Corporation employee has changed residency since creating their plan, a legal review may be warranted to enhance compliance with current state laws, particularly in states with unique estate tax structures like Massachusetts, Oregon, Washington, or Minnesota.

6. Portability and Credit Shelter Trusts

A surviving spouse may use any unused federal exemption from the deceased spouse through portability, but:

- A federal estate tax return is required within nine months of death (15 months with extension).
- Before portability, credit shelter trusts (CSTs) were common to preserve exemptions.

- Although no longer needed for federal purposes in some cases, CSTs may still be helpful for managing state or generation-skipping transfer (GST) taxes. Disclaimers and updates to trust structures may provide additional flexibility.

7. Charitable Giving: Aligning Purpose with Planning

Charitable giving is often a priority—but sometimes not reflected in estate documents. Potential planning tools include:

- Specific gifts to charities listed in a will or trust.
- Use of charitable lead or remainder trusts.
- Donor-advised funds or private family foundations.

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Unisys Corporation retirees who value philanthropy should evaluate how well their estate plans incorporate these goals, and whether doing so could lead to tax advantages.

8. Estate Taxes vs. Income Tax Implications

Earlier estate plans emphasized reducing estate taxes, but income tax considerations are now equally important.

- The federal estate tax rate is 40%.
- Federal income tax rates can reach 37%, capital gains up to 20%, plus a 3.8% surtax.
- Trusts reach the highest tax brackets with just $15,650 in income.

- It may be beneficial to shift income-producing assets out of trusts or re-evaluate distributions to individuals in lower tax brackets.

9. Life Insurance: Still a Strong Fit?

Life insurance policies created years ago may no longer align with your estate or cost objectives.

Consider:

- Does the policy still perform competitively under current conditions?
- Are premium costs sustainable?
- Is it worth transferring ownership to an irrevocable life insurance trust (ILIT)?

It’s recommended that insurance policies be reviewed periodically to determine their ongoing relevance and financial impact.

10. Communication and Digital Organization

Many estate plans lack practical execution details. Family may not know where documents are stored. Fiduciaries might not have contact details or asset lists. Digital accounts and passwords may be inaccessible.

A comprehensive letter of instruction should include:

- Contacts for attorneys, advisors, and fiduciaries.
- An inventory of assets and their locations.
- Login details for important digital accounts.

Clear planning and information access can simplify responsibilities and reduce confusion during transitions.

Bottom Line: Estate Planning Is a Process, Not a Product

As your circumstances and regulations evolve, estate documents should evolve as well. Unisys Corporation employees may consider:

- Revisiting documents every 3–5 years or after major changes.

- Involving attorneys, tax professionals, and financial advisors in reviews.

- Reassessing roles, ownership structures, and beneficiary choices.
- Including charitable goals and multi-generational intentions.

An estate plan should reflect your values and help facilitate your legacy.

Checklist: Key Areas to Review

Focus Area	Action Point
Fiduciaries	Confirm that trustees and executors are still appropriate.
Trusts and beneficiaries	Reassess terms, ages, and children's evolving needs.
Health care and HIPAA	Confirm that documents and authorizations are up to date.
Tax exposure	Compare current asset values with federal and state limits.
State of residence	Ensure estate documents align with state-specific rules.
Trust structures	Evaluate GST, CST, and disclaimer trusts for relevance.
Charitable giving	Review charitable gifts or plans embedded in documents.
Income vs. estate taxes	Assess tax impact by ownership type and beneficiary structure.
Life insurance	Re-evaluate life insurance policies for ongoing usefulness.
Communication plan	Share critical info with fiduciaries and heirs.

Legacy Planning in a Changing World

A plan drafted years ago may no longer reflect your current priorities. Keeping it updated allows for better alignment with family dynamics, tax laws, and economic trends.

Recent data indicates many individuals in their 60s fall into the 'senior sandwich generation,' simultaneously supporting aging parents and adult children. This multi-generational responsibility may require adjustments in estate planning such as modifying liquidity goals, rethinking timelines for inheritance, or creating structures that serve multiple generations.

Final Thought

An estate plan left unchanged is like using an outdated map—it may miss important updates such as new fiduciary considerations, revised tax laws, or shifts in your family’s structure. For Unisys Corporation employees focused on long-term planning, periodic updates can help your legacy reflect today’s realities.

With consistent reviews and collaboration with qualified professionals, your estate documents can remain an effective and adaptable guide for your family and financial future.

Sources:

1. Doc & Law. The Connection Between Estate Planning and Retirement Planning. Doc & Law LLP, May 2025, pp. 1–3.

2. JustVanilla: Why You Need to Periodically Update Your Estate Plan (and the Consequences If You Don’t). JustVanilla, Mar. 2025, pp. 2–4.

3. Lanza, John R., and John E. Lanza. Why Revisiting Your Estate Plan Upon Retirement Is Crucial. Lanza & Lanza LLP, 25 July 2024, pp. 1–5.

4. Allegro, Alex. “Estate Planning Steps to Protect Your Loved Ones and Legacy.” Kiplinger , 9 June 2025, pp. 2–4.

5. Kiplinger Staff. “Think a Repeal of the Estate Tax Wouldn’t Affect You? Wrong.” Kiplinger , May 2025, pp. 1–3.

What specific retirement options are available to employees of Unisys, and how do these options vary in terms of financial benefits, including considerations for early retirement vs. normal retirement age? In the context of the Unisys Pension Plan, what implications do these options have on long-term financial planning for employees at Unisys?

Retirement Options at Unisys: The Unisys Pension Plan provides options for normal, early, and unreduced retirement. Normal retirement is at age 65, and early retirement is available between ages 55 and 65, though benefits may be reduced for early retirement. Employees with at least 20 years of vesting service can retire without reductions from age 62. These options influence long-term financial planning as choosing early retirement may result in reduced benefits due to longer payout periods(Unisys_Corporation_Summ…).

How are pay credits calculated under the Unisys Pension Plan, and what factors might influence an employee's monthly pay credit pertaining to their Retirement Accumulation Account? Moreover, what are the potential impacts on retirement benefits if employees experience changes in their eligible pay during employment at Unisys?

Pay Credits Calculation: Pay credits under the Unisys Pension Plan were calculated at 4% of an employee’s eligible monthly pay from January 1, 2003, through December 31, 2006. Interest credits continue to accrue after this period until benefits are distributed. Changes in an employee’s eligible pay during employment will affect the total pay credits, thus impacting their retirement accumulation account(Unisys_Corporation_Summ…).

Can you explain the differences between credited service, eligibility service, and vesting service as defined by Unisys? What importance do these distinctions have on an employee's ability to access their retirement benefits, and how does each type of service contribute to the overall calculation of an employee's pension under the Unisys plan?

Service Types at Unisys: Credited service refers to the period used to calculate pension benefits, vesting service determines eligibility for receiving benefits, and eligibility service is the time required to become a participant in the plan. These distinctions are critical because credited service directly affects the benefit calculation, while vesting and eligibility service ensure employees qualify for benefits(Unisys_Corporation_Summ…).

What steps must Unisys employees take to initiate their pension benefits, and what specific information will they need to provide during the application process to ensure a smooth transition into retirement? Additionally, how does Unisys support employees in navigating this process, and what potential delays should employees be aware of?

Initiating Pension Benefits: To initiate pension benefits, employees must contact the Unisys Benefits Service Center and apply for their benefits. They must provide personal and employment details, including retirement age and chosen payout method (lump sum or annuity). Unisys supports employees through this process via their benefits service center, but delays can occur due to incomplete information or processing times(Unisys_Corporation_Summ…).

In what ways does the Unisys Pension Plan ensure protection for employees' benefits under federal law, particularly through the Pension Benefit Guaranty Corporation (PBGC)? How does this insurance work in practice, and what types of benefits are specifically covered or not covered by the PBGC for Unisys employees?

PBGC Insurance: Unisys Pension Plan benefits are protected under the Pension Benefit Guaranty Corporation (PBGC), ensuring employees receive guaranteed benefits even if the plan is terminated. However, certain benefits, such as non-qualified plans or supplemental executive retirement plans, may not be covered under PBGC(Unisys_Corporation_Summ…).

How might changes or amendments to the Unisys Pension Plan affect existing and future employees? In particular, what provisions does Unisys have in place to communicate significant changes in the plan to its employees, and what rights do employees have under ERISA if they disagree with these changes?

Impact of Plan Amendments: Any amendments to the Unisys Pension Plan could affect both existing and future employees. Unisys communicates significant changes through written notifications. Employees have rights under ERISA, including the right to challenge plan changes if they disagree with amendments that negatively affect their benefits(Unisys_Corporation_Summ…).

What considerations should employees of Unisys keep in mind regarding their benefits if they are nearing retirement age? Additionally, how can employees effectively prepare for potential changes to their health or work circumstances that could impact their retirement planning, given the options provided by Unisys?

Retirement Preparation: Employees nearing retirement should consider the timing of benefit elections, such as early or normal retirement. Preparing for potential health changes or shifts in work circumstances is essential, as these factors may alter retirement needs and benefit choices under the Unisys Pension Plan(Unisys_Corporation_Summ…).

What are the options available for Unisys employees who wish to designate beneficiaries for their retirement benefits, and how do these designations affect benefit distributions? Specifically, what criteria must be met for naming a contingent annuitant, and what restrictions might apply under the Unisys plan?

Beneficiary Designation: Unisys employees can designate beneficiaries for their retirement benefits. If a spouse is not the beneficiary, spousal consent may be required. A contingent annuitant can also be designated under certain restrictions, affecting the distribution of retirement benefits based on Unisys’ rules(Unisys_Corporation_Summ…).

How does the Unisys Benefits Service Center operate, and what resources are available for employees seeking information about their pension plans or retirement benefits? What are the best practices for contacting the Unisys Benefits Service Center to ensure that employees receive timely and accurate answers to their inquiries?

Unisys Benefits Service Center: The Unisys Benefits Service Center provides employees with resources for pension inquiries and applications. Best practices for contacting them include preparing all necessary personal and employment details to ensure timely and accurate responses(Unisys_Corporation_Summ…).

What are the most important elements of the Unisys Pension Plan that employees should review before retirement, and how can employees leverage the information provided in the summary plan description to optimize their retirement income? What role does employee education play in enhancing knowledge about these elements and ensuring informed decision-making about retirement benefits at Unisys?

Critical Pension Plan Elements: Employees should review their Retirement Accumulation Account, service years, and payout options before retirement. The summary plan description is a valuable resource for understanding how to maximize retirement income, and Unisys offers educational tools to help employees make informed decisions(Unisys_Corporation_Summ…).