transfer | Law Firm Newswire

Southfield, MI (Law Firm Newswire) February 2, 2017 – Medical malpractice lawsuits involving patients found “dead in bed” while in hospital after successful operations are on the rise. The patients were recovering in their rooms and not considered to be at risk. The sudden and unexpected death of patients recovering after successful surgery, sometimes within hours of an operation, is posing a significant problem. Research by top U.S. doctors into this issue has shown opioid painkillers suppress the respiratory system and starve the brain of oxygen, resulting in death. An in depth review of cases involving respiratory depression found the […]


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San Francisco, CA (Law Firm Newswire) January 20, 2017 – Estate planning involves countless complex rules that can change every year. It is important to ensure that estate planning documents take modifications into account and are up to date. Tax laws govern how people can make gifts during their lifetimes and transfer estate property to heirs tax-free up to a certain amount. In 2017, the lifetime gift and estate tax exclusion amount has increased by $40,000 from 2016 to adjust for inflation. This means each individual can protect up to $5.49 million from estate and gift tax. “Neglecting to actively […]


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Southfield, MI (Law Firm Newswire) December 9, 2016 – A patient in hospital for a colonoscopy went into cardiac arrest after his oxygen levels dropped to dangerous levels. Although revived, he remained in the hospital until his death three months later. A court found that the hospital in question had made changes to the patient records, took too long to offer the medical records when they were requested and lied under oath by offering false testimony. The patient went into the hospital on October 1, 2010 for what should have been a routine colonoscopy. The 49-year-old man was under anesthesia […]


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Roseville, CA (Law Firm Newswire) November 30, 2016 – Effective Jan. 1, 2017, claims by California Medi-Cal Estate Recovery will be decreased to the minimal amount required under federal law. The reduction applies to those who receive Medi-Cal and who die on or after Jan. 1, 2017. The new legislation, SB 833, was signed by Governor Jerry Brown on June 27. Under federal law, the state is required to obtain an adjustment or recovery from a person’s estate for nursing facility services if the person was permanently placed in an institution. The state also had the option to secure an […]


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Fairfax, VA (Law Firm Newswire) September 21, 2016 – It is important that those individuals and families with estate planning documents comprehend the difference between possessing such documents and having a wealth transfer plan. Without an estate plan in place, the state in which the decedent lived will decide who is entitled to inherit the decedent’s assets. And the decision of the state may not be in accordance with the wishes of the decedent. An estate plan can help expedite the transfer of assets to the beneficiaries, reduce attorneys’ and court costs, and maintain peace within the family. A wealth […]


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Virginia Beach, VA (Law Firm Newswire) August 8, 2016 – Among the most significant factors to consider when establishing a business succession plan is the timing of the change of ownership. Whether the owner is planning to sell or make the business a gift, or combine the sale with a gift, the changeover should not occur prior to the identification and development of the next generation of leaders. Several estate planning methods for business succession plans work most effectively in an environment of low interest rates. Usually, when there are lower interest rates, the seller has more chances to finance […]


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Roseville, CA (Law Firm Newswire) June 20, 2016 – It can be challenging to administer the estate of a deceased California resident who, at one time, was a citizen of a foreign country, or the estate of a deceased non-resident of California who is the owner of real property in California. Consider the case of a deceased California resident whose most recent will was executed in another state or country. Under California law, a will that was executed in another state or nation can be enforced in California if it was completed in compliance with the law of the place […]


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San Francisco, CA (Law Firm Newswire) May 25, 2016 – A new estate planning law that went into effect on January 1 seeks to help California homeowners avoid the costly, time-consuming process of probate when leaving property to heirs. Bill AB139 was signed into law in September 2015 after previous efforts to pass the legislation failed for almost a decade. It introduces the Revocable Transfer on Death Deed (TOD) which allows individuals to transfer property to a beneficiary upon their passing without the need to set up a revocable living trust or sort out matters in probate court. Such deeds […]


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Virginia Beach, VA (Law Firm Newswire) May 16, 2016 – Estate planning clients often ask about the most effective methods of protecting assets from creditors. It is always best to transfer assets prior to the time at which any claims arise. It is too late to make any transfers after there is a creditor issue. If such a transfer is made, it will be considered a fraudulent transfer. Other factors to consider are the following. If the grantor makes a gift to keep an asset from current creditors, but the grantor maintains control over the gift, then the gift may […]


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Roseville, CA (Law Firm Newswire) May 9, 2016 – There are many risks and disadvantages for the grantor and beneficiaries of the California Revocable Transfer on Death Deed (“TOD” deed), which became effective on January 1, 2016. In the event the decedent is indebted to anyone, the TOD deed creates a liability for the beneficiaries. In an effort to satisfy the decedent’s debts, the personal representative who is handling the probate of the decedent’s estate may require payment from any of the beneficiaries of the TOD deed up to three years following the death of the transferor. The TOD deed […]


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Chicago, IL (Law Firm Newswire) May 5, 2016 – Phillips 66 is facing an age and gender discrimination lawsuit in relation to the Wood River refinery. The defendant in this lawsuit, Kimberly Helbig, asserts she was terminated from her position as a coker operator and that supervisors would threaten and make intimidating remarks to her because she was the only female in that position. Further allegations in the statement of claim included Helbig’s transfer from her regular supervisor to another supervisor, who allegedly stated she was “making everyone uncomfortable” and was “running out of options.” Helbig’s statement of claim also […]


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Roseville, CA (Law Firm Newswire) April 25, 2016 – It is imperative that people understand the consequences of holding title to assets and that the ways in which the owner holds title can greatly impact the transfer of the property upon the owner’s death. Some individuals choose to add an agent to an account when they are depending on that person to help with the management of their finances. This method does not provide the agent with any ownership rights or name the agent as a beneficiary. However, it grants the agent permission to act on behalf of the owner […]


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Virginia Beach, VA (Law Firm Newswire) April 12, 2016 – Childless couples can face certain challenges with respect to estate planning. It may be difficult for couples to select the person who will make decisions on their behalf in the event of their incapacity and upon their death. They may also not know to whom they should leave their assets. As a result, they may fail to engage in any estate planning at all. If there are no powers of attorney, and one or both spouses become incapacitated, in all likelihood, the state will mandate that the family file for […]


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Fairfax, VA (Law Firm Newswire) January 22, 2016 – Those who have blended families can face difficult estate planning issues. They may wish to leave a portion of their estate to their current spouse and their children, their children from prior marriages, and in some instances, their children from their spouses’ prior marriages. It can be a daunting task to provide for all members of one’s family. It is best not to depend on a spouse and children to work things out because there could be family arguments and possible litigation following one’s death. There are some estate planning vehicles […]


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Virginia Beach, VA (Law Firm Newswire) December 11, 2015 – When handling one’s estate planning, it is important to prepare the relevant documents and ensure that they can be accessed by trusted family members prior to one’s death. Such documents can include wills, health care directives, and lists containing passwords to online accounts. However, there are other less common items that some family members may need when their loved one dies. One such item is military discharge papers. John J. Scroggin, who manages a tax business and estate planning firm in Atlanta, knew that his father wished to be buried […]


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Virginia Beach, VA (Law Firm Newswire) December 4, 2015 – Retirement planning can be a very challenging process for couples, and even more so for singles. Several Americans will enter their retirement years on their own for various reasons, such as the death of a spouse, divorce and different lifestyles. According to the 2013 U.S. Census, 54 percent of women and 27 percent of men age 65 or over were unmarried. Financial advisers claim that the retirement planning needs of singles can be extremely different from those of married couples, and that many singles are unprepared. A study by Rand […]


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Fairfax, VA (Law Firm Newswire) November 23, 2015 – Art collectors are advised to think about the future of their art after they are deceased. According to Michael Delgass, managing director of Sontag Advisory, a financial planning firm in New York, as one’s art portfolio increases in value, it becomes a more important part of one’s tax and financial lives. Heirs may realize undesirable tax consequences, including heirs who are not relatives of the collector or those who are relatives of the collector but who are not art connoisseurs. Advisers state that it is challenging to quantify the value of […]


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Virginia Beach, VA (Law Firm Newswire) November 6, 2015 – When a younger spouse inherits an IRA, it may be in the best interest of the spouse to continue being a beneficiary of the IRA. A beneficiary is not required to pay the 10 percent early distribution penalty on funds taken out of the IRA. The spouse would only have to pay income taxes on the amounts withdrawn from the account. But if the spouse were to move the inherited account into his or her own name, then the spouse would have to pay the penalty, unless an exception applied. […]


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Austin, TX (Law Firm Newswire) September 24, 2015 – Medical misdiagnosis may lead to serious injuries or death. In this case, a family was awarded $195,000 in a lawsuit for the wrongful death of their mother. The initial diagnosis, based on the E.R. attending and the attending physician’s assistant’s (P.A.) interpretation of the patient’s electrocardiogram (EKG) results, was a condition called bundle branch block. As it turned out, the EKG results were not correctly interpreted, and the patient was actually suffering from a much more serious condition that could result in a complete blockage of the heart, leading to sudden […]


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Fairfax, VA (Law Firm Newswire) May 13, 2015 – Enactment of the measure would allow residents to avoid probate on their property. On April 9, California took a major step toward allowing transfer-on-death deeds for real estate. The state Assembly passed a bill to permit such deeds by a unanimous 73-0 vote. If approved by the state Senate and signed into law by Gov. Jerry Brown, the Golden State would become the 21st and largest state to legalize this estate-planning method for avoiding probate. The measure, sponsored by Assemblyman Mike Gatto, D-Glendale, would make so-called revocable transfer-on-death deeds available. These […]


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