ESTATE PLANNING: Pet Trusts

According to a treatise on revocable trusts, “[t]he number of individuals who own animals is staggering. As many as 56.7 million households in the United States owns dogs and 45.3 million own cats.”George M. Turner, Dr. Gerry W. Beyer & James M. Kosakow, 2 Revocable Trusts 5th § 78: 1 (Westlaw current through November 2020…

GIFTS: Beneficiaries – Disqualification to Take – Ingratitude

It is well-settled that, in most states, completed inter vivos gifts are deemed irrevocable, even in circumstances where the donor’s relationship with the donee later deteriorates or the purpose of the gift dissipates. “Many gifts are made for reasons that sour with the passage of time. Unfortunately, gift law does not allow a donor to…

Estate Planning: Lifetime Gifts of Closely Held Business Stock to Family Members

“Rather than disposing of stock in a closely held business (by sale or corporate reorganization) at retirement the retiree may decide to transfer all or a portion of the stock by gifts to various family members.” Streng & Davis, Tax Planning for Retirement 7.05[1] (Thomson Reuters Tax and Accounting 2018). Three important objectives can be…

Jack Ferriter Presented at National Business Institute Seminar in Springfield

Jack Ferriter was a featured speaker at the NBI (National Business Institute) seminar held in Springfield on Monday, May 22, 2017. He presented on “PROTECTING ASSETS WHILE QUALIFYING FOR MEDICAID.” His presentation was titled “Medicaid Laws Impact Asset Preservation Planning,” which is linked below. Medicaid Laws Impact Asset Preservation Planning

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