By Allison L. Byrd, Morgan & DiSalvo, P.C. In early May 2019, three hand-written ("holographic") wills purportedly written by Aretha Franklin were found in the late vocalist's home. The wills were discovered by Sabrina Owens, the personal representative of Ms. Franklin's estate. Two of the wills (dated June 21, 2010 and October 20, 2010) were found in a locked cabinet, and the third will (dated March 31, 2014) was found [...]
By Allison Byrd In our January issue of “The Passionate Estate Planner,” we addressed ten common myths about estate planning. A classic misconception perpetuated in the movies, and number two on our list, is how a Will is read: The myth: My attorney will read my Will aloud in a musty, mahogany-paneled room, while my loved (or not-so-loved) ones are gathered ‘round in rapt anticipation. The reality: It doesn’t [...]
By Diane Weinberg, Morgan & DiSalvo, P.C. With the turning of the year and our progression into spring, our thoughts turn gently to the upcoming income tax season and to the March 6 deadline for determining how much income must be distributed from your non-grantor, irrevocable trust for the prior tax year. For the 2018 tax year, the Trustees of non-grantor trusts have until March 6, 2019 to distribute its [...]
By Loraine M. DiSalvo, Morgan & DiSalvo, P.C. I was a Burt Reynolds fan since my dad took me to see “Smokey and the Bandit” way back when I was little, and I was sorry to hear of his death. This article about Burt Reynolds's Will caught my eye, but I have some complaints about it. The article highlights some of the differences between a Will and a trust, and those statements are [...]
July 2018 saw another significant change in the Medicaid waiver programs. Medicaid introduced the Elderly and Disabled Waiver Program, which will replace both the Community Care Services Program (CCSP) and the Services Options Using Resources in a Community Environment (SOURCE). CCSP and SOURCE were Medicaid waiver programs that helped individuals at risk for going into a nursing home live at home or in the community while receiving the services that they need.
By Allison L. Byrd, Morgan & DiSalvo, P.C. Aretha Franklin, the “Queen of Soul” and a beloved American icon, died in her home on August 14, 2018, at age 76. Despite having achieved a reputation as one of the most talented vocalists in the world and having amassed an estate worth approximately $80 million, including the rights to many of her hit songs, Franklin reportedly died without a will [...]
Exciting News from the Department of Community Health: Increases to Medicaid Financial Limits and the Creation of the Elderly & Disabled Waiver Program
In July 2018, the Department of Community Health increased the limit of the personal needs allowance (PNA) for individuals receiving Nursing Home Medicaid by 30 percent – from $50/month to $65/month. This announcement is exciting because it is the first increase in the PNA since 2006.
With the turning of the year and our progression into spring, our thoughts turn gently to the upcoming income tax season and to the March 6 deadline for determining how much income must be distributed from your non-grantor, irrevocable trust for the 2017 tax year. Trusts themselves are not terribly complex creatures. Someone (the settlor) gives an item to another person/company (the trustee) to manage for the benefit of a [...]
By Diane Weinberg I've always been a little hesitant to write a general article about Medicaid planning with any detail. Medicaid laws and regulations are extremely nuanced and can impact other laws, including tax laws, VA disability pension law, and laws governing trusts and estate. My biggest fear has always been that someone would read the article, attempt to develop a plan based solely on the article without seeking advice [...]
by Loraine M. DiSalvo Just a month ago, I wrote about a Maine court case that grew out of an omitted Oxford comma. For those who didn’t read it, a group of truckers successfully sued their union after some writer’s failure to use the Oxford comma resulted in an unclear sentence regarding overtime rules. (The Oxford, aka serial, comma is the comma in a series of three or more that [...]