Titling your home to your children can be very risky. Once your children own your home, they can sell the home out from under you or simply force you to leave, a major risk should a child develop credit or marital issues. Gifting your home also gives up equity you may need later to move […]
Federal law provides that trusts containing assets of a disabled beneficiary generally disqualify the beneficiary for Medicaid, Supplemental Security Income, and various other disability benefits. However, amounts in certain pooled special needs trusts and individual special needs trusts are not subject to this general rule. Pennsylvania enacted various restrictions on pooled special needs trusts limiting […]
Your Social Security retirement benefit depends on your earnings history and when you choose to start receiving Social Security. While you can start Social Security retirement benefits at age 62, if you elect to begin Social Security before reaching normal retirement age (“NRA”), your benefit is reduced. On the other hand, SS benefits rise by […]
Federal court in Potter v. Blue Cross Blue Shield of Michigan has authorized a class action against Blue Cross and Blue Shield of Michigan. Plaintiffs claim that Blue Cross and Blue Shield of Michigan improperly denied health benefit claims for applied behavior analysis therapy on grounds that it is investigative or experimental. The decision is […]
The United States Tax Court just held that a New Jersey estate may not deduct a child’s charges for long term care provided to a deceased parent absent a written agreement by the parent to pay the child for the care. Estate of Olivo v. Commissioner (U.S. Tax Ct., No. 15428-07, July 11, 2011) http://www.ustaxcourt.gov/InOpHistoric/OLIVO.TCM.WPD.pdf. […]
