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…

Release of Trustee from Liability for Retaining an Investment

Trusts It is not uncommon for trustees of trusts to encounter beneficiaries that pressure them into retaining a particular asset or investment even though the retention thereof might pose an unreasonable risk with respect to the performance of the overall portfolio and subject the trustee to potential liability to the beneficiaries for breach of the…

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

Medicaid Laws Impact Asset Preservation Planning

Back in 2007, Medicaid laws changed pursuant to Federal Deficit Reduction Act of 2005 (ORA 2005). The law revised treatment and use of Medicaid or MassHealth planning tools. The most often asked question after the new Medicaid laws went into effect is “So what planning tools are left for us to consider?” Medicaid laws are…

Charitable Trusts and Bankruptcy Proceedings

When testators or settlors create charitable gifts in trust for named institutional beneficiaries, when the contemplated distribution is ready to be made, sometimes it is found that the intended charity is involved in bankruptcy proceedings. Therefore, the question arises as to the proper disposition of such charitable gifts in trust to the bankrupt institutional beneficiaries….

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