Providing For Your Grandchildren – Special Report
CASE STUDY: GRANDPARENTS USE BOTH ESTATE PLANNING AND LIFETIME GIFTS TO ASSIST GRANDCHILDREN Harry and Sally have two grown children and four grandchildren who are all under age 18. Harry and Sally are close to their children, Bill and Irene. The grandchildren are a source of joy and pride and occupy a special place in…
Vacation Area Homes: Tax and Management Issues – Begley Report
By: Thomas D. Begley, Jr., Esquire, CELA CASE STUDY 1: VACATION HOME—NO ESTATE PLAN Harry and Sally own a vacation home on a barrier island. They purchased the home many years ago for $50,000, and it is now worth $1 million. Harry and Sally have two children and five grandchildren. The children visit the vacation…
TEN THINGS TO KNOW ABOUT A QUALIFIED SETTLEMENT FUND (QSF)
by Thomas D. Begley, Jr., Esquire, CELA What is a QSF? The QSF, also known as a 468B Trust, is used to settle multiple Plaintiff lawsuits, for example, mass torts. Advantage. The Defendant can pay and go and obtain a release of liability right away, allowing the Plaintiffs to delay tax consequences and time to…
WHAT IS GOING ON WITH FEDERALLY ASSISTED HOUSING?
by Thomas D. Begley, Jr., Esquire, CELA The federal government has assisted individuals and families with payment for housing since the Great Depression. Section 8 began in 1974. In 2016, Congress passed the “Housing Opportunity Through Modernization Act,” referred to as HOTMA, to modernize the Section 8 program. Ten years later, a great deal of…