A column on Condé Nast's Portfolio.com addresses the concept of "negative inheritance." Economists use this term to describe the situation where any gifts or bequests that children otherwise might receive from their aging parents...
The Department of Health and Human Services (HHS) has issued an interim final rule implementing the Early Retiree Reinsurance Program established under the Patient Protection and Affordable Care Act (PPACA) that permits sponsors of retiree medical plans...
From Ryan J. Foley, Court: Estate, Not Heirs, Responsible for Taxes ,
AP / Bloomberg Businessweek, May 4, 2010:
Personal estates -- not
those who inherit money from them -- are responsible for paying state and
federal estate taxes, the Wisconsin...
Now that May of 2010 is upon us and there is still no federal estate tax finality, we can begin to look at the situations that families are facing where loved ones have passed since January 1. A key issue is that their estate planning documents (wills...
debtor received, pre-petition, a direct transfer of funds from her father's
individual retirement account (IRA), created pursuant to 26
USCS § 408 ,
to the debtor's inherited IRA, such a transfer did not terminate the debtor's...
The Illinois Senate recently approved the Illinois
nursing home bill, which offers to overhaul the standards for care and safety in Illinois' nursing homes. The
bill passed the Senate 46-8 and now awaits Gov. Pat Quinn's signature. The bill...
Carter v. SSC
Odin Operating Co., LLC ,
Docket No. 106511., SUPREME COURT OF ILLINOIS, 2010 Ill. LEXIS 653, April 15,
2010, Opinion Filed,
The public policy
behind antiwaiver provisions of Nursing Home Care Act, 210 ILCS 45/3-606 and
There are many different ways to make charitable donations. The variety of options makes it easier to find a means of giving that best fits your personal goals and financial situation. This article covers the different ways that you can give during your...
The Obama Administration reports today that they will subsidize employers who are providing medical benefits to "early retirees". The issue is that Medicare kicks in at age 65. Given the costs of private health insurance, older, and sometimes...
The estate tax changes in 2010 are not only playing havoc with estate plans, but asset protection planning for those concerned with long term care costs as well. I came across this informative article " Which Pre-2010 Medicaid-Oriented Transfers...
When a resident of another state dies owning real estate
in Florida, proceedings are necessary in Florida to transfer the
property. Even if a personal representative has been appointed in the decedent's
home state, neither that person nor the home...
recent New York decisions address spousal entitlement to an elective share when
a mentally incapacitated decedent enters into a marital contract. In both Campbell
v Thomas and Matter of Berk , a caregiver secretly married the
Under the Uniform Rules for
Surrogates Courts in any proceeding where the determination of legal fees is
required to be made by the court, the applicant must file an affidavit of services. 22
NYCRR § 207.45 (a) . Among
other information, an attorney's...
New York Governor David A. Paterson signed a bill which, according to his press
release, "resolves a current split in decisional law
in relation to the degree of proof necessary to show paternity after a
purported father's death...
One of the most common concerns seniors have is whether they will be able to stay in their homes for as long as they want. Most people prefer to age in place rather than to move to a long-term care facility as they get older. There are many financial...
Recently, Clay M. Greene, a
78-year-old gay man from Sebastopol, CA., filed a lawsuit against Sonoma County,
accusing the County of, among other claims, elder abuse, elder financial abuse,
and violation of the Patient's Bill of Rights. Mr. Greene...
Attorney General Lisa Madigan led law enforcement officials in the latest raid of a Chicago nursing
home facility. In the unannounced visit, three felons were arrested at
Others discussing this hot topic
The heirs of author, William Styron,
are proceeding with plans to release e-books of Styron titles despite Random
House's earlier claim to the right to publish electronic versions of books.
Random House is backing away from its earlier statement...
View the US News and World
Report Survey of Nursing Homes
Others discussing this hot topic include:
McKnights, Long-Term Care News and Assisted Living
Walton Law Firm's California Nursing Home Abuse Lawyer Blog
On March 19, 2010, the United
States Court of Appeals for the Ninth Circuit dealt a serious blow to the
estate of Anna Nicole Smith (actual name: Vickie Lynn Marshall). Unfortunately for spectators, the meat of
this latest ruling in the now deceased Mrs...
of March and April 2010 have brought new tax legislation that increases Federal
taxes on both high and lower income taxpayers.
The following is a brief overview of the new tax provisions and
potential future legislation which would adversely...
Evaluation of creditor risk and the development of a
strategy for acquiring creditor protected assets is an essential element of
every good estate plan. While promoting
funds for higher education, state law provides certain creditor protection
The caregiver cares for the ill and needy, but who cares for the caregiver? Family Fortress Estate Planning Blog has an interesting post this week about " Help For Caregivers: 10 Steps Toward Taking Care of Yourself ". A staggering statistic...
consultation with clients regarding estate planning, Wills, Revocable Lifetime
Trusts (including Insurance Trusts), Do Not Resuscitate forms, Powers of
Attorneys, Living Wills, Health Care Proxies, Article 17-A proceedings and
Article 81 proceedings...
question in determining Medicaid eligibility is "Did you make a gift in the past
5 years?" If the answer is "Yes" a penalty period will be assessed before a
person qualified for Medicaid.
distinction is that...