funds | Law Firm Newswire - Part 2

Northville, MI (Law Firm Newswire) April 26, 2016 – Two Michigan lawmakers are planning to launch a nonprofit organization that will raise awareness and resources to benefit veterans. State Rep. Tom Barrett, R-Potterville, and state Sen. David Knezek, D-Dearborn Heights, announced the formation of the Michigan Veterans Institute on March 2. They are collaborating on the project in an effort to help veterans gain access to health care and job opportunities, among other necessities. “An organization that champions veterans’ causes and gives them a voice is a step in the right direction,” said Jim Fausone, a Michigan veterans attorney. “Veterans need […]


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New York, NY(Law Firm Newswire) April 21, 2016 – A former executive of an investment bank in New York was arrested and charged with attempting to defraud investors of over $95 million. Andrew Caspersen, 39, was charged with wire fraud and securities fraud in Manhattan federal court. Prosecutors alleged that Caspersen raised money from investors under false pretenses and converted the funds to his own use without their permission. “Wire fraud and securities fraud are serious charges, and anyone accused of such a crime should seek legal counsel,” said Peter Brill, a prominent New York criminal defense attorney, who is […]


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Southfield, MI (Law Firm Newswire) April 12, 2016 – Wilson Molinares killed four members in a family of six by crashing head-on into their van on I-35 Texas in the early morning hours of a recent Friday. This wrong-way crash was caused by a suspected drunken driver speeding south in the northbound lane of I-35 Texas. Police in the area received several calls that there was a wrong-way driver careening down the highway. Seconds later, a 911 call advised police there had been a collision. “The crash scene was one of the worst the local police had ever seen,” said […]


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Virginia Beach, VA (Law Firm Newswire) March 31, 2016 – Some retirees and former employees have received offers from their employers to accept a lump-sum payment of their pension. This is an offer that they must consider very carefully because it will entail a loss of income for the rest of their life, and they will be in charge of managing their own investments and ensuring that the funds last through retirement. The IRS and Treasury made an announcement in July 2015 that they would forbid companies from offering lump-sum payments to retirees who were already getting a monthly pension. […]


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Brandon, FL (Law Firm Newswire) March 28, 2016 – Florida and other states are set to receive additional federal foreclosure aid funds five years after the initial grants. The Hardest Hit Fund was created in 2010 to help states with high rates of home foreclosures. A federal report last year found that Florida had both the slowest disbursement of funds and the lowest rate of acceptance of applicants. Now, Florida and other states are set to receive additional funds and an extended deadline for disbursement. “Florida is getting a second chance,” said Reggie Osenton, a bankruptcy attorney in Tampa. “We […]


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Northville, MI (Law Firm Newswire) March 15, 2016 – The Department of Veterans Affairs has requested around $78.7 billion in discretionary funding as part of President Barack Obama’s proposed $4.1 trillion federal budget for 2017. The VA’s discretionary spending would receive a nearly 5 percent boost to tackle outstanding health care claims from veterans, among other objectives. According to the proposal unveiled on February 9, the spending plan also includes more than $102.5 billion for mandatory VA programs such as disability compensation. The budget has doubled since 2009 when Obama was sworn in. “The proposed budget increase provides an opportunity to […]


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Southfield, MI (Law Firm Newswire) March 10, 2016 – Alfredo Zamora was rear-ended by a speeding truck while he was halted at a stop sign. His widow, Claudia Zamora, filed a wrongful death lawsuit against the truck’s owner and the driver. The wrongful death lawsuit alleged negligence in the death of Claudia Zamora’s husband against three named defendants, James Williams Jr., Kelkar LLC and Troop Industrial. According to court document, filed in December 2015, defendant Williams Jr. was speeding while behind the wheel of a flatbed truck. He was bearing down on Zamora’s vehicle, which was halted at a stop […]


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Southfield, MI (Law Firm Newswire) March 3, 2016 – Israel Brogdan allegedly died after being admitted at a hospital but was not examined by a doctor. Brogdan’s mother, Sharon Brogdan of New Jersey, filed a wrongful death, medical malpractice lawsuit against a physician’s assistant and two doctors working for Correct Care Solutions LLC of Cambridge Springs, Pennsylvania. The suit alleged that Israel died December 16, 2014, in the care of Correct Care Solutions without ever being examined. She had been admitted with abdominal pain, congestion and a cough. According to the documents filed in court, an exploratory laparotomy was performed […]


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Virginia Beach, VA (Law Firm Newswire) February 29, 2016 – An estate-planning method that was one time frequently used was an irrevocable trust that held a life insurance policy, with the objective that the death benefit be used to pay estate taxes. This technique permitted the policy’s benefits to be applied toward payment of the estate taxes of the individual who died without inclusion of the policy in the estate. Although this method remains useful, it is not as common because the threshold for being affected by the estate tax has increased to such a degree that only the affluent […]


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Virginia Beach, VA (Law Firm Newswire) February 25, 2016 – Many retirees are considering putting their home on the market and moving to a less expensive area. Two married couples did exactly that when they left their homes in Maryland and moved to Florida. Barbara and Mike West made the decision to sell their home in a suburb of Maryland that they had owned for 26 years. Encouraged by a desire to escape the Mid-Atlantic winters, they thought about relocating to Hawaii, where they had resided during Mike West’s time in the Navy. However, they concluded that it was too […]


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Virginia Beach, VA (Law Firm Newswire) February 18, 2016 – Although retirees’ health-care expenses are often high, there are options to handle their potential medical expenses. In a study conducted by Fidelity Investments, it was revealed that in 2014, a couple aged 65 would have required $220,000 to pay for health-care costs in their retirement years, excluding skilled nursing care. According to the American Council of Life Insurers, the average annual cost of care in a nursing home is approximately $81,000, with 2.6 years as the average time spent in a home by an elderly female patient, and 2.3 years […]


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Roseville, CA (Law Firm Newswire) February 11, 2016 – Special needs trusts (SNTs) are established for beneficiaries who are physically or mentally disabled. They are drafted in such a way that the beneficiary can reap the benefits of property that is held in trust for them while simultaneously maintaining eligibility to receive needs-based government benefits. The three kinds of SNTs are first-party, third-party and pooled trusts. First-party SNTs are used to hold property owned by the person with special needs, and are established by the disabled person’s parent, grandparent, conservator or the court. These trusts apply in cases in which […]


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Harrisburg, PA (Law Firm Newswire) January 29, 2016 – The Internal Revenue Service (IRS) has relaxed its regulations for new accounts that will permit people with disabilities to save money without risking loss of their government benefits. In 2015, the IRS proposed rules governing how accounts created under the Achieve a Better Life Experience (ABLE) would function. However, the agency met with a considerable amount of opposition from disability advocates and state officials who stated that the proposed rules would be unduly onerous. In response, the IRS has issued preliminary guidelines pending release of the final regulations that include less […]


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Virginia Beach, VA (Law Firm Newswire) January 26, 2016 – The majority of individuals who purchase life insurance wish to replace their income should they die prematurely. They can choose a term plan that ends upon retirement. Another option is to pay for retirement by using a permanent life insurance policy, and withdrawing funds from the plan’s cash reserve. However, there are possible drawbacks when using this strategy. According to experts, whole life insurance may not be an appropriate investment vehicle because it is costly and not liquid. “When considering retirement planning, it is important to obtain sound investment advice […]


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Virginia Beach, VA (Law Firm Newswire) January 19, 2016 – When creating a trust fund, parents can select a trustee to be in charge of the funds for as long as the parents wish. One way of structuring inheritance is to have the trustee distribute the funds in three separate amounts. For example, the trustee could give the child one sum upon graduation from college, or at age 22, the second a few years later, and the last at around age 30. The main reason cited by parents for releasing the funds in stages rather than all at once is […]


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Virginia Beach, VA (Law Firm Newswire) January 12, 2016 – While most people would like to live a long life, not everyone is financially prepared for it, especially if long-term care is needed. According to personal finance experts, within each person’s budget, money should be allocated toward a long-term care plan. In this way, an individual can develop a strategy to assist with daily living activities in the event of becoming infirm. Each day ten thousand baby boomers reach the age of 65, and approximately 70 percent of Americans will ultimately require long-term care services. There are important factors to […]


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Tampa, FL (Law Firm Newswire) December 29, 2015 – President Barack Obama on Nov. 2 signed into law a two-year budget agreement that includes significant fixes to the financially troubled Social Security Disability Insurance Program (SSDI). According to government officials, the SSDI program will receive the necessary funding to allow it to offer full benefits for the next three years at least. More funds will be shifted from the Social Security retirement program into disability by adjusting the way payroll tax revenues are distributed. Acting Social Security Commissioner Carolyn Colvin said without the proposed relocation, the program would only be […]


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Southfield, MI (Law Firm Newswire) December 29, 2015 – Walter Riggs died at the Alden-Princeton Rehabilitation and Health Care Center Inc. His family chose to file a wrongful death lawsuit. Walter Riggs suffered from diabetes and dementia and was a resident of Alden-Princeton for about two years. During that period of time, he was sent to hospital frequently for bowel obstructions and constipation. It was discovered after his death in 2013 that he was being given the wrong medication and had been receiving it for several months. The administrator for the estate is seeking a jury trial, damages and litigation […]


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Virginia Beach, VA (Law Firm Newswire) December 18, 2015 – It is generally assumed that student loan debt is a problem faced only by the young. However, that is not always the case. Seniors are increasingly having a difficult time paying off their student loans, even to the point at which their Social Security benefits are offset when they are unable to make payments. According to the Government Accountability Office (GAO), in 2010, four percent of Americans ages 65 to 74 had federal student loan debt. This represents an increase of one percent from the year 2004. The collective amount […]


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Brandon, FL (Law Firm Newswire) December 10, 2015 – A recent government report says Florida lags behind all other states in disbursing federal funds to families affected by the housing market crash. The Hardest Hit Fund, part of the Troubled Asset Relief Program, or TARP, was created by the federal government in 2010. It is aimed at mitigating the effects of the steep drop in the housing market, the ensuing financial crisis and high unemployment. O. Reginald Osenton, a bankruptcy attorney in Brandon, said that he is not surprised at the report. “I know first hand that Florida families are […]


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