Category Archives: Administrative law

Questions the Executor should ask the Estate’s Accountant

The house is sold, the estate’s debts and bills have all been paid, the accounting has been presented to the beneficiaries, they have signed off on the Release & Refunding Bonds, and now it’s time for the estate’s Executor or Administrator to distribute the estate to the beneficiaries according to the Will or according to the requirements of the law. The estate may have acquired dividends or interest or rents on which income tax must be paid. An income tax return has to be filed for the Estate if more than $600 in gross income was received, and in fulfilling his/her fiduciary duty, the Executor/ Administrator wants to be sure to investigate all available income-tax saving opportunities. Here are a few of the questions to ask when you call the estate’s accountant: : What is the estate’s expected marginal tax bracket? Is it beneficial to pass the estate’s income and losses (if there is a loss on sale of assets such as stock or….. To continue reading this legal news please click Read full information...

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Internal Revenue Service Guidelines and retirement advisory opinion letters

The Internal Revenue Service has begun issuing opinion/advisory letters for pre-approved defined benefit retirement plans restated for the 2012 Cumulative List, and changes the pre-approved plan program for cash balance plans.The NY State Employees' Retirement System and the NY State Teachers' Retirement System together with the NYC public retirement systems, are defined benefit plans.In contrast, the New York State University Optional Retirement Program, available to certain employees of the State University of New York, the Community Colleges, and the Statutory Contract Colleges at Cornell and Alfred Universities, the New York City Board of Higher Education's Optional Retirement Program available to certain employees of the Board of Higher Education, and the New York State Department of Education's Optional Retirement Program, is to certain employees of the New York State Department of Education, are defined contribution retirement programs. The….. To continue reading this legal news please click Read full information...

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FORMATO ANOTACIÓN MARGINAL

XXXX XXXXXXXXXXXXXXXXXX VS. XXXX XXXXXXXXXXXXXXXXXXX JUICIO EJECUTIVO MERCANTIL EXPEDIENTE: XXX/2XXXX EJECUTIVO MERCANTIL C. JUEZ PRIMERO CIVIL DE PRIMERA INSTANCIA DEL DISTRITO JUDICIAL DE XXXXX XXXXX XXXXXX, XXXXX P R E S E N T E. XXXXX XXXXXXXXXXXXXXXX, promoviendo en mi calidad de titular de la acción mercantil ejercitada en este juicio, misma personalidad que tengo reconocida en autos, ante usted respetuosamente expongo: A efecto de salvaguardar el derecho que me asiste sobre los bienes inmuebles embargados en el presente juicio, respetuosamente pido se libre atento oficio a la Delegación del Registro Público de la Propiedad y de Comercio de este Distrito Judicial, a fin de que previo pago de los derechos correspondientes, realice anotación marginal del presente juicio respecto del inmueble embargado a la demandada que se localiza en calle XXXXXXXXXXX S/N de ésta ciudad, y cuyos datos proporcioné en diverso escrito de fecha nueve….. To continue reading this legal news please click Read full information...

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After the Lawsuit: Planning for a Child Disabled Because of Medical Malpractice or Personal Injury

It’s devastating when you have a child disabled because of medical malpractice or personal injury, and many families seek to recover from those whose negligence harmed their child. Lawsuits can take years, and take an emotional and psychological toll on the families involved. Should the family prevail, getting a verdict in their favor can be a godsend that allows them to recover from financial difficulties due to the child’s medical needs. However, even after a settlement or verdict, there is more to do.  Your child may still be qualified for public benefits.  A settlement or verdict may not always cover a disabled child’s needs, but with careful planning, any lack of funds can be covered by other sources, such as public benefits. If your child is unable to work, he or she may still qualify for some benefits, like Supplemental Security Income (SSI) and Medicaid, even if they receive money from a settlement or verdict.  Consider creating a….. To continue reading this legal news please click Read full information...

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Military Families Have More Options When Planning for a Child with Special Needs

Military families who have kids with special needs have historically faced a number of difficulties when planning for their future financial stability.   Previously, military families faced the challenge of being unable to assign survivor benefits to their child with special needs because the payments could potentially affect their eligibility for government benefits such as Medicaid or Supplemental Security Income (SSI). Fortunately, changes made in 2014 under the Disabled Military Child Protection Act now allow military parents to provide survivor benefits to a disabled child via a First Party Special Needs Trust rather than putting the money into the child’s name. The child will still benefit from the funds in the Trust, but because the funds are not in the name of the child, they will not be considered when determining eligibility for government programs. The military member can designate up to 55% of their retirement pay to eligible children or spouses. .….. To continue reading this legal news please click Read full information...

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