Early Termination Provisions in Self-Settled Special Needs Trusts and Self-Settled Pooled Trusts
On June 25, 2010, the Social Security Administration (SSA) issued clarification to the POMS relating to Early Termination Provisions and Trusts.[1] It should be noted that these provisions are not effective until October 1, 2010. Until that date, this POMS is to be considered informational only. The new POMS clarifies what is an early termination…
Avoiding The Unnecessary MSA: Obtaining An Opinion Letter
Since the advent of Section 111 of the Medicare, Medicaid and SCHIP Extension Act of 2007, defendants and defense counsel are more vigorous in ensuring that all Medicare liens are paid in full from settlement proceeds and that a Medicare Set Aside Arrangement (MSA) is established where required. Unfortunately, since this area is new, many…
Four Alternatives to Self-Settled Special Needs Trusts
A self-settled special needs trust is not appropriate in every instance where a person with a disability receives a tort recovery, an inheritance, or equitable distribution. At the initial contact, the special needs trust attorney should make a determination as to whether or not the trust is appropriate and explain to the person with a…
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…