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The Role of a Trustee and Their Discretionary Power

Trustees serve a very important role in the effective administration of a trust. The maker of the trust document, the grantor, gives another neutral third party, the power to administer the terms of the trust throughout the lifetime of the grantor and after, if the terms of the trust provide…

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Three Florida Residents Responsible for $1 Billion Medicare/Medicaid Laundering Scheme

In the largest single criminal healthcare fraud laundering scheme that dates back to 2009, three Floridians have been charged with defrauding Medicare and Medicaid of over $1 billion dollars. The owner of more than 30 nursing homes and assisted living facilities in Miami and a few in Illinois worked with…

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SPECIAL NEEDS, THIRD PARTY AND SELF SETTLED TRUSTS – WHATS WITH ALL THE NAMES?

LEGAL DISTINCTIONS THAT MATTER When a person applies for Medicaid eligibility there are many pitfalls that an unsuspecting or unsophisticated applicant can run afoul of. To help them retain the benefit of certain monies that they would normally have access to third parties or the applicant themselves can create a…

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FEDERAL TAX EXEMPTION FOR ELDERLY DEPENDENTS

EVERY LITTLE BIT COUNTS For those of among us who care for elderly parents or relatives, you do it without expectation of compensation or reimbursement. You dedicate time, money, resources and do it day in and day out and will continue to do so without concern for recompense. That does…

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FILE AND SUSPEND STRATEGY IS NO MORE – NEED TO REASSESS PLANS

For over a decade it was sound and perfectly legal advice for financial advisors and elder law practitioners to advise their married clients to file and suspend their social security benefits, thereby maximizing their financial returns.  The basic advice was to advise a married couple to have the spouse who…

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HOW LONG CAN IRS COME AFTER ME? THE SUMNER REDSTONE CASE

Sumner Redstone is an entertainment business mogul with a majority share ownership of CBS entertainment and Viacom, and through Viacom, BET and Paramount Pictures, all through his majority ownership of his family business, National Amusement, which originally started out in the drive in movie theater business during The Great Depression.…

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