Taxation Of Confidentiality Agreements
The taxation of Confidentiality Agreements in personal injury settlements is becoming and increasing concern to plaintiffs and to personal injury lawyers. The issue arises out of a United States tax court case. This case involved an incident in which Dennis Rodman, a basketball player for the Chicago Bulls, during the course of a game against…
TRANSFER OF ASSETS TO DISABLED CHILDREN
The current federal Medicaid statute has been in effect since 1989.[1] Generally, the statute provides that if an individual makes an uncompensated transfer of resources, the value of those resources are divided by the average monthly cost of a nursing home and the resulting quotient is the number of months during which the applicant will…
Special Needs Planning: Planning for the Disabled Child
Estate planning for parents of disabled children requires more care and consideration than a simple Will. The financial and personal well being of a disabled child can only be property protected by utilizing special needs planning. This article will focus on the use of special needs trusts for disabled children and their parents. Economically, a…
Understanding Your Duties and Responsibilities as a Guardian
By Ethan J. Ordog As the probate judge renders his or her decision regarding a finding of incapacity and the appointment of an appropriate guardian, many individuals, specifically those who have been entrusted with such an appointment, begin to contemplate the responsibility which is being conferred upon them. Typically, a determination to pursue guardianship is…