Center for Medicare Advocacy Has a New Observation Status Toolkit

Medicare-eligible patients may find themselves in the hospital, receiving medical services, tests, and treatment, sometimes for many days, but find out too late that they are considered outpatients, in Observation Status, not admitted inpatients. Observation status continues to harm Medicare beneficiaries and their families. With generous support from the John A. Hartford Foundation, the Center for Medicare Advocacy has put together an Observation Status Toolkit that can be used by patients and their advocates. This information is provided to help you understand and respond to an “outpatient” Observation Status designation.

Click here for toolkit.

Cost-of-Living Adjustment (COLA) Information for 2018

Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 66 million Americans will increase 2.0 percent in 2018. The 2.0 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 61 million Social Security beneficiaries in January 2018. Increased payments to more than 8 million SSI beneficiaries will begin on December 29, 2017.

To read more about COLA, click here.

Medicaid Irrevocable Trusts – Do They Protect Assets?

The New Hampshire Bar Association recently published an article written by Attorney David M. Beliveau discussing the use of Medicaid irrevocable trusts as a legal tool to protect assets (typically, a residence) in the case one has to be admitted to a nursing home and apply to receive Medicaid to cover the respective cost. The question is, do such trusts work? Read the entire article below.

Elder, Estate Planning & Probate Law: Medicaid Irrevocable Trusts: A Tale of Two Cities?

By: David M. Beliveau | New Hampshire Bar Article

With the increasing cost of nursing home care, some elders are using Medicaid irrevocable trusts to try to protect their assets (typically, their residences) in case they have to be admitted to a nursing home and apply to receive Medicaid to cover the respective cost. The question is, do such trusts work? Last year, both the New Hampshire Supreme Court in In re Petition of Braiterman and a Massachusetts appellate court in Heyn vs. Director of the Office of Medicaid answered the question.

Both Braiterman and Heyn turned on each court’s interpretation of the “any circumstance” test. Under 42 USC Section 1396p(d)(3)(B), if there are any circumstances under which payment from the trust could be made to or for the benefit of the Medicaid applicant, then the Medicaid irrevocable trust is deemed countable for the purpose of determining the Medicaid applicant’s eligibility for Medicaid. In Braiterman, the New Hampshire court appears to have interpreted the “any circumstance” test broadly and, consequently, found the Medicaid irrevocable trust at issue problematic. In contrast, in Heyn, the Massachusetts court appears to have interpreted the “any circumstance” test narrowly and, consequently, found the Medicaid irrevocable trust at issue not problematic. [Read more…]

Remarrying? Always consider a prenup

People who are remarrying after a death or divorce should almost always strongly consider having a prenuptial agreement.

When prenup agreements first became popular a generation ago, most people thought of them as a way for wealthy people to protect themselves in case they were marrying a gold digger. Today, however, prenups don’t have the same connotation. They’re often used as a straightforward financial and estate planning tool, especially by mature couples who are entering into a second marriage.

The number one reason that people enter into prenups when they begin a second marriage is that they have children from their first marriage, and they want to make sure the children will be well provided for in case they get divorced or in case they die before their new spouse. [Read more…]

Direct Knowledge of Severity of Senior’s Injuries Not Required to Support Conviction for Elder Abuse (Mass. App.)

91-year-old Olivia Cruz died of sepsis caused by wounds developed sitting stationary in her feces and urine while under the care of her son, Filip. When paramedics were called to her home after she suffered a stroke, they were overwhelmed with the odor of urine and rotting flesh. A jury ultimately convicted Filip of wantonly or recklessly permitting serious bodily injury to an elder under his care and with wantonly or recklessly committing abuse, neglect, or mistreatment of Olivia. On appeal, Filip argued that there was insufficient evidence to show that he acted wantonly or recklessly and that the two convictions were duplicative.

The Massachusetts Appellate Court affirmed the convictions. The court held that wanton or reckless conduct, which involves a high degree of likelihood a substantial harm will occur to another, may be based on the defendant’s actual knowledge or what a reasonable person should have known given the circumstances. Even without direct evidence that Filip knew of the severity of his mother’s condition, the court said, there was plenty of circumstantial evidence to support the jury’s verdict. The extent of the foul smell, coupled with the fact that Olivia’s sores were the size of softballs, would have alerted a reasonable person to the severity of the situation. As to Filip’s second claim, the court held both offenses require “proof of an element that the other does not” such that Filip may be punished for two separate crimes arising from the same course of conduct. One count required a showing of abuse, neglect, or mistreatment of an elder while the other required a broader showing of serious bodily injury. Thus, both convictions were affirmed.

Commonwealth v Cruz, 2015 WL 5164397 (Mass. App. Sept. 4, 2015)

Beliveau Law Group: Massachusetts | Florida | New Hampshire

The litigation attorneys at the Beliveau Law Group provides legal services for elder law. The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; and Salem, New Hampshire.

 

Severance agreements are challenged by the U.S. Government

It is very common for laid-off employees to be given a certain number of weeks’ salary as severance pay. Often, in return for the severance, the employee is asked to sign a contract promising that he or she won’t sue the employer and won’t make any public statements that would put the employer in a negative light.

While these types of agreements are common, the federal Equal Employment Opportunity Commission recently suggested that severance contracts that go too far in limiting employees’ rights might be illegal. [Read more…]

Some ‘home improvement’ projects actually lower a home’s value

A number of home improvement projects can actually lower the value of a home by turning off potential buyers, according to an interesting recent article published by Yahoo! Finance.

The following projects might make you happy if you’re staying in your home for a while, but they can be a bad idea if you’re planning to sell soon, according to the article:

• Converting a bedroom. Most buyers would much rather see a four-bedroom house than a three-bedroom house with a home gym. And if you do convert a bedroom, make it easy to turn it back into a bedroom – and never remove a closet. [Read more…]

Power of Attorney

ADDITIONAL INFORMATION:

My husband had a stroke a year ago. We have no will. He can’t write and his speak isn’t very well. My question is can he make me power of attorney if he can only make an x? Would that be legally binding?

ATTORNEY ANSWER BY MARGARET L. CROSS:

Yes, your husband can execute a power of attorney provided he understands what he is executing and wishes to do so. He can make his mark on the document. The notary clause would reflect that your husband made his mark in the presence of a notary. An attorney can help you with the necessary language that must be inserted into the power of attorney. It is not in standard documents.

Legal Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on since each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship. A lawyer experienced in the subject area and licensed to practice in the jurisdiction should be consulted for legal advice. Circular 230 Disclaimer: Any information in this answer may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.

Beliveau Law Group: Massachusetts | Florida | New Hampshire

The estate planning attorneys at the Beliveau Law Group provides legal services for estate and asset protection planning. The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

Can my step father hold me accountable for past mortgage payments if I wasn’t informed that I inherited land through intestacy?

ADDITIONAL INFORMATION:

My mother passed away 8 years ago… I was told she left me nothing. Last month my step father contacted me saying he needed me to sign some some papers for him. When I asked what they were for he told me it was my mothers estate, but assured me it wasn’t worth anything. It seemed weird to me so I had his attorney send me the paperwork and discovered I had received her half of their property through intestacy. He’s telling me that he owes me nothing for my half, and that I owe him for half of his mortgage payments and taxes for the past EIGHT years. Even though I had NO idea I even owned half of the property. His attorney tells me it was not my step fathers responsibility to inform me of the inherited property, and I can sign the papers or they will file for him to be executor of it all.

ATTORNEY ANSWER BY MARGARET L. CROSS:

Who told you that you inherited nothing? Your step-father? Did he attempt to conceal your inheritance from you?
Joint owners of a property are jointly and severally liable for the debts on the property. They also have an equal right to use the property. Sure, he can attempt to collect half the money for the mortgage he paid. At the same time, you can force a sell of the property where he has been living or tell him you are moving in with him. You also have a right to be the executor and well as to object to his serving as one. I would suggest that you contact an attorney as soon as possible.

Legal Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on since each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship. A lawyer experienced in the subject area and licensed to practice in the jurisdiction should be consulted for legal advice. Circular 230 Disclaimer: Any information in this answer may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.

Beliveau Law Group: Massachusetts | Florida | New Hampshire

The estate planning attorneys at the Beliveau Law Group provides legal services for estate and asset protection planning. The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

Long-Term Care Insurance Bill in Massachusetts has passed

GOV. SIGNS LONG-TERM CARE INSURANCE BILL: After taking his full 10 days to review, Gov. Deval Patrick on Thursday afternoon signed long-term care insurance legislation (S 2359) that sets new standards for policies and creates consumer protections. Long-term care insurance regulations already exist in Massachusetts, but the new law requires the insurance commissioner to promulgate the National Association of Insurance Commissioners’ model, which provides additional consumer protections. It also gives the insurance commissioner increased authority over rate-setting and cost controls. Its sponsors say it will protect some elderly patients from losing their homes to pay for long-term care. Currently, patients who go into a nursing home are allowed to keep their homes if they have bought a sufficient amount of long-term care insurance to cover some of the costs before Medicaid coverage takes over. In some instances, elderly patients choose home care before going into a nursing home, bringing their long-term care benefits below the minimum amount required – sometimes leading them to lose their homes to the state to cover the costs of care, according to sponsors of the legislation. The law limits MassHealth’s estate recovery ability for people holding approved plans.

Beliveau Law Group: Massachusetts | Florida | New Hampshire

The estate planning attorneys at the Beliveau Law Group provides legal services for estate and asset protection planning. The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

Burial Trusts Under Attack from MassHealth

MassHealth’s legal department has recently become issuing opinion letters to the MassHealth case workers stating that assets in burial trusts are countable assets, which is in clear contradiction to the regulations.  In the MassHealth appeal 120957, the fair hearing officer writes “Without reviewing the specific life insurance policies or the funeral trust in this case, MassHealth’s legal unit has concluded, according to the MassHealth representative, that it “isn’t accepting burial trusts anymore.”   This is a problem, because as far as this fair hearing officer is aware, the regulation allowing burial trusts has not changed since the last revision on 2/10/06.”

For the full MassHealth fair hearing opinion click: MassHealth Appeal 120957

Margaret L. Cross-Beliveau, Esq., LL.M.

Beliveau Law Group: Massachusetts | Florida | New Hampshire

The estate planning attorneys at the Beliveau Law Group provides legal services for estate and asset protection planning. The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

Probate in Waltham MA

If you have been named the executor of an estate, you may want help with the sometimes complex and lengthy process of guiding the will through probate. A skilled Massachusetts probate attorney can help the executor prepare and file the required probate court paperwork, including the petition, inventory, and account, arrange for the appraisal of the assets of the deceased, give proper legal notice to the decedent’s beneficiaries and the estate’s creditors, arrange for payment of final bills, prepare and file estate and fiduciary tax returns, distribute assets among the estate’s beneficiaries according to the terms of the will, and close the estate once probate is complete.

We are Waltham MA probate attorneys. Call us to schedule an appointment to discuss your probate matter.

Employer information report (EEO-1) due September 30th

The deadline for filing the Employer Information Report (also known as the EEO-1 Report) with the Equal Employment Opportunity Commission (EEOC) is September 30th. The report must be filed by: (1) employers with federal government contracts of $50,000 or more who have 50 or more employees; and (2) employers who do not have a federal government contract but have 100 or more employees. The report requires employers to provide a count of their employees by job category, ethnicity, race, and gender. Employment numbers may be obtained from any pay period in July through September of 2011.

IRS issued revised Circular 230

The updated Treasury Department Circular 230 (Rev. 8-2011) is now available online. According to IRS, Circular 230 was revised to reflect the new return preparer oversight program and other changes.

Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at the Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

Transfer of debt instruments for nonrecourse “loan” was disguised sale

In Landow, TC Memo 2011-177, the Tax Court has determined that a 90% “loan transaction program” was in fact a taxable sale of the debt instruments that purportedly collateralized the loan. The Court also rejected the taxpayer’s argument that he should qualify for nonrecognition of gain under Code Sec. 1042, noting that the fact that the debt instruments were ultimately sold by the “lender” was irrelevant since the operative sale for Code Sec. 1042 purposes was from the taxpayer to the lender.

Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at the Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

Continental Airlines could not recover pension distributions paid to pilots’ ex-spouses, despite “sham” divorces

Continental Airlines in Brown v. Continental Airlines, Inc., (2011, CA5) 2011 WL 2780505 was not entitled to recover pension plan distributions that were paid to the ex-spouses of a group of divorced plan participants, even though the payments were made on account of alleged “sham” divorces, since ERISA does not authorize plan administrators to consider the subjective intentions or good faith underlying a divorce.

Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at the Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

In Zapara v. Comm, Court orders IRS to credit taxpayer with amount lost by its failure to timely sell seized stock

In Zapara v Comm (CA 9 7/18/2011) 108 AFTR 2d ¶ 2011-5084 , the IRS appealed Tax Court’s ruling to the Court of Appeals for the Ninth Circuit.  This appeal presented the question, inter alia, of whether the Tax Court had jurisdiction in a hearing conducted pursuant to 26 U.S.C. § 6330 to review the Internal Revenue Service’s failure to comply with its statutory mandate under 26 U.S.C. § 6335(f).  The Appeals Court conclude that it did and affirmed the judgment of the Tax Court. [Read more…]

AARP’s new study shows huge tolls on family caregivers

The AARP has published Valuing the Invaluable 201:1 Update The Growing Contributions and Costs of Family Caregiving showing huge tolls on family caregivers.  The 2009 estimated economic value of family contributions was approximately $450 billion.

See National Public Radio article relating to the study.  (audio available)

The Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

IRS formally ends gift tax probe of 501(c)(4) contributors

On July 7, IRS announced on its website that it will no longer pursue the issue of whether the gift tax applies to contributions made to Code Sec. 501(c)(4) social welfare organizations. An accompanying memo from IRS’s Deputy Commissioner for Services and Enforcement formalizes the decision with instructions to IRS personnel to stop pursuing the issue. IRS’s decision to throw in the towel on the issue comes in the wake of withering criticism from Congressional Republicans that the gift tax probe was a reversal of long-standing policy and was politically motivated.

Source: Federal Tax Updates on Checkpoint Newsstand tab 7/8/2011

The Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

Tax Court ruling holds CEO could deduct legal fees incurred in defending against suit by disgruntled investor

In Ramig, TC Memo 2011-147, the Tax Court has concluded that a chief executive officer (CEO), who was also a board member and minority shareholder, could deduct legal fees in defending against charges that he made misrepresentations to an investor in the company. The legal fees were deductible under Code Sec. 162 as the ordinary and necessary expenses of his business of rendering services to his company as an employee.  The IRS argued that the suit
was against Ramig personally, not as CEO of the company, and that the expenses of defending the suit were therefore unrelated to the conduct of a trade or business.

The Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

Ninth Circuit Affirms Tax Court in Estate of Jorgensen v. Commissioner

The Ninth Circuit Court of Appeals has affirmed a March 2009 memorandum opinion of the U.S. Tax Court which held that a decedent’s estate included assets that she transferred to two family limited partnerships. There was no bona fide sale, and she retained control over the assets transferred.

The Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

IRS offers nationwide “Fresh Start” open house on Saturday July 16, 2011

The Internal Revenue Service will open the doors to dozens of its Taxpayer Assistance Centers across the country this coming Saturday, July 16, 2011, to answer taxpayer questions and provide help with tax filing issues. [Read more…]

Illinois has revised its power of attorney statute to address elder abuse

Illinois has enacted Public Act 96-1195 in an effort to curb the rise of financial abuse on elders by their agents under the power of attorney.

The Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

Ins and outs of multi-state estate planning and probate

July 2011
Author: Attorney David M. Beliveau
Published by: Massachusetts Lawyers Weekly

It is becoming more common for estate planning attorneys to have clients who own real estate in multiple states. Whether it is a cottage on a lake in New Hampshire or a snowbird getaway in Florida, understanding the similarities and differences of estate planning and probate law in the states most commonly encountered by Massachusetts attorneys is essential to competently managing such matters.

All three states have common estate-planning documents, including revocable trusts, last wills and testaments, financial durable powers of attorney and health care directives.

[Read more…]

IRS issues private letter ruling on disclaimer executed by an estate

In PLR 201125009, IRS has privately ruled that a disclaimer made by a decedent’s estate of her deceased husband’s retirement benefits (including benefits that would have been payable under a disclaimer trust set up by his will) was a qualified disclaimer under Code Sec. 2518 of those benefits that were not yet accepted. As a result, the disclaimed benefits passed outright to the couple’s children.

Margaret L. Cross-Beliveau, Esq., LL.M.

The Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

Florida Legislature Says “No” to Millions in Federal Funding for Aging in Place

A Florida legislative panel Friday rejected millions in federal money designed to help remove patients from nursing homes and provide them with similar care in their own homes.

Source/more: Associated Press/Bradenton.com (June 24, 2011)

The Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

Florida Governor Signs Bill on Public Employee Pensions; Lawsuit Looms

Despite a lawsuit from the Florida Education Association and other public worker unions, Gov. Rick Scott signed Senate Bill 2100 into law, and now all government employees must contribute three percent of their salaries to the Florida Retirement System. Scott said that the new bill will save taxpayers and employers roughly $2 billion a year. The new law will be in effect starting July 1, 2011.

Source/more: WTSP News Channel 10 (June 23, 2011)

The Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

IRS releases draft version of Form 8938 for foreign financial asset holders

IRS is seeking comments on new draft Form 8938, “Statement of Specified Foreign Financial Assets,” which is available on IRS’s website. Form 8938 will be used by individuals to report an interest in one or more specified foreign financial assets under Code Sec. 6038D. [Read more…]

New Statutory Notice Requirements for Trustees in Florida effective June 21, 2011

Effective June 21, 2011, Section 11 of Ch. 2011-183, Laws of Florida, amended s. 736.0813(1)(a) and (b) to require trustees to give notice to the qualified beneficiaries of the trust that “the fiduciary lawyer-client privilege in s. 90.5021 applies with respect to the trustee and any attorney employed by the trustee.

The Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

Wells Fargo stops making reverse mortgages

Wells Fargo has announced that it will no longer issue new reverse mortgages but will continue to service its current mortgages citing that home prices are too unpredictable.

Reuters article

Margaret L. Cross-Beliveau, Esq., LL.M.

The Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

June 10, 2011 MassHealth Medicaid Bed Hold Hearing & June 15, 2011 Written Testimony Deadline

MassHealth (Medicaid) is holding a public hearing on Friday, June 10, 2011 at 10:00AM to discuss the  termination of the 10-Day Bed Hold which will become effective July 8, 2011.
For further details: click here

Hearing Location:

China Trade Building; Daly Conference Room, 5th Floor; Two Boylston Street; Boston, MA

1) Get signatures in support of reinstating the Bed Hold (for signature form click 2011 Bed Hold Signature Sheet). Ask residents, friends, family, colleagues – anyone you know! Mail forms to MANHR by June 14th: MANHR, POB 560224, Medford, MA 02156.

2) Provide written or oral testimony. This is easier than it sounds — a short one or two paragraph response is fine, and please limit to one page.

a) Tell your story to put a face on Medicaid nursing home residents who will be hurt by not having the Bed Hold provision. With these stories, advocates can better demonstrate what Medicaid Bed Holds really mean to the well-being of nursing home residents.

b) Or simply voice your concerns/recommendations!

c) If you are giving oral testimony at the June 10th hearing, call 617-573-1770 by 5:00PM on Thursday, June 9th to notify Medicaid and get an early speaker’s slot at the hearing.

d) Letter or email comments will be accepted up until 5:00PM on June 15, 2011.

Mail To:

Executive Office of Health and Human Services

Office of Medicaid; One Ashburton Place, Room 1109; Boston, MA 02108

Email To:

masshealthpublicnotice@state.ma.us

Include sender’s name, mailing address, and organization or affiliation, if any.

Center on Budget and Policy Priorities issues a Report entitled New Estate Tax Rules Should Expire After 2012

The Center on Budget and Policy Priorities’ report espouses the position that the estate tax rules should be let to expire after 2012.

Among the reasons list are that (1) the 2009 rules were more than generous since less that one quarter of one percent of the estates incurred and an estate tax and (2) with the step-up in basis a substantial amount of income would go untaxed as there would no longer be a capital gain.  For the full report, click here.

Margaret L. Cross-Beliveau, Esq., LL.M.

The Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

Penalties imposed for misclassifying employees as independent contractors

As reported in RIA Tax Newsstand:  Employers that misclassify employees as nonemployees or independent contractors will face substantial financial penalties as the result of not withholding income tax, failing to withhold and pay employment taxes, and failing to file the correct reports and returns with the IRS, Social Security Administration (SSA), and state government agencies.   The IRS penalty for unintentionally failing to withhold federal income tax is 1.5% of the wages paid.  This assessment is doubled to 3% if the employer failed to file an information return (Form 1099-MISC) for the worker with the IRS.  [Read more…]

Real Estate Newsletter May 2011

To view our most recent real estate newsletter as e-mailed to our clients, click Real Estate Newsletter May 2011

The Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

IRS encourages tax professionals to participate in one of its 2011 Nationwide Tax Forums

As reported in RIA Newstand: IRS is heavily promoting the importance for tax professionals to attend one of the events scheduled as part of the 2011 IRS Nationwide Tax Forums. As described by the agency, the tax forums are three-day events presented by IRS experts and partner organizations that offer up-to-date information on federal and state tax issues. Those who register early will receive a significant discount on the registration fee. The early registration period closes two weeks prior to each forum. Forums will be held in the following cities on the dates indicated: Atlanta, June 28-30; Orlando, July 12-14; Dallas, July 26-28; San Jose, Aug. 9-11; Las Vegas, Aug. 16-18; and National Harbor, MD (Washington, DC area), Aug. 30- Sept. 1. Attendance at one of the forums carries benefits for enrolled agents, certified public accountants, certified financial planners and other tax professionals, IRS said. These benefits include the opportunity to receive up to 18 continuing education credits, access to 40 separate seminars and workshops on relevant tax topics, and the chance to sign up to become an Authorized IRS e-file Provider. “Tax professionals attending a forum can bring their toughest unresolved case to meet with IRS personnel who may be able to help,” IRS stressed. Complete details and registration are available at http://www.irstaxforum.com/index

Look Before You Leap into Summer Rentals

According to a recent Boston Globe article entitled Owners out, vacationers in, more and more Cape Cod residents are opting to move out of their homes for the summer to share in the lucrative summer rental market.  However, as discussed in the upcoming Beliveau Law Group June Tax newsletter there are tax implications that you need to consider before renting out your home.  There are contractual pitfalls which need to be considered as well.  What are the ramifications if a renter either harmed your property or reneged on the agreement?   We are happy to discuss the pros and cons of your entering into such a rental agreement.   Please feel free to contact us.

Paul Mansur, Esq.

Boston Globe’s Owners out, vacationers in

 

 

Elder Law Newsletter May 2011

To read the May 2011 Elder Law Newsletter as e-mailed to our clients, please click below.

Elder Law Newsletter May 2011

IRS Live presents The Examination Process for Employment Tax Returns

The IRS has announced a live webinar on June 22, 2011 at 2 p.m. EST on the examination process for employment tax returns.

Clink on the link below for more information:

June Webinar link

Kaiser Family Foundation issues a brief regarding proposed Medicaid overhaul

The Kaiser Family Foundation has issued a brief on Chairman Paul Ryan’s proposal to overhaul Medicaid and convert federal funding to a block grant.
Implications for a Federal Block Grant for Medicaid

Naples FL Attorneys

The Beliveau Law Group provides legal services for estate planning (wills and trusts), elder law and Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas).

The lawyers at our Naples, Florida law office serve all of Florida including the local communities of Marco Island, Naples Manor, Golden Gate, Bonita Springs, San Carlos, Cape Coral, Fort Myers, and the entire Naples region.

Salem NH Attorneys

The Beliveau Law Group provides legal services for estate planning (wills and trusts), elder law and Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas).

The lawyers at our Salem, New Hampshire law office serve all of New Hampshire including the towns and cities of Derry, Londonderry, Pelham, Windham, Nashua, Manchester, Hampstead, Atkinson, and the entire Salem region.

Waltham MA Attorneys

The Beliveau Law Group provides legal services for estate planning (wills and trusts), elder law and Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas).

The attorneys at our Waltham, Massachusetts law office serve the Greater Boston Metro region including Arlington, Boston, Brookline, Chestnut Hill, Concord, Dedham, Dover, Lexington, Needham, Newton, Waltham, Wayland, Wellesley, Weston, and the entire Boston region.