For Recipients of SSI, SSDI & RSDI: Important Information About Economic Impact Payments
The US Treasury Department has begun to issue economic impact stimulus payments for eligible individuals. Those with adjusted gross income up to $75,000 for single filers, $112,500 for head of household filers, and $150,000 for married filing jointly will receive the full stimulus payment amount of $1,200 for individuals and $2,400 for married filing jointly….
Are You Planning to Sell or Surrender Your Life Insurance Policy? Tax Treatment for the Policy Owner
The life insurance secondary market has grown tremendously in recent years providing policy owners, who may no longer need the coverage, with an additional income source. Yet the income tax consequences have remained unclear, and in certain cases still do remain unclear. The Internal Revenue Service (“IRS”) recently published guidance concerning the income tax consequences…
Tax Breaks for Guardianship Fees
During a recent conversation with one of our clients I was askedwhether the legal expenses associated with a guardianshipare tax deductible. For many of our clients, guardianship isinevitable. Parents of children with special needs experience anadded financial burden and for many, this includes the legal feesassociated with a guardianship. At 18 years old, an individual…
Equal Opportunities in School Sports for Students with Disabilities
Students with disabilities are all too often denied the chanceto participate in school sports at the club, intramural andinterscholastic level, and as a result, students with disabilitiesoften miss out on the many health and social benefits of athletics.A 2010 United States Government Accountability Office reportconfirmed that many students with disabilities are not affordedan equal opportunity…
Landlords Beware Improper Deposits, Eviction Can Spell Trouble
Residential landlords in Massachusetts are subject to strict rules. For instance, if landlords do not have a written agreement from the tenant to pay for heat and electricity, the tenant could obtain a judgment against them for three months’ rent and attorney fees and court costs, or the actual amount the tenant has paid for…
Delving into the Weeds of the Massachusetts Recreational Marijuana Law
In November of 2016, Massachusetts and Maine votersapproved the recreational use of marijuana. They join Alaska,California, Colorado, Nevada, Oregon and Washingtonin permitting the recreational use of pot. Lawmakers inneighboring New Hampshire, Rhode Island, and Vermontare considering doing the same. In addition, 28 states and theDistrict of Columbia allow some use of marijuana for medicalpurposes. While…
Payback and Termination of an OBRA ‘93 Trust
An OBRA ‘93 Trust is a trust funded with assets within the legal control of a person with disabilities, and which, at the death of such person, a payback to the state or states that provided medical assistance (Medicaid/Public Aid) paid in accordance with the applicable federal medical assistance program (Medicaid Statutes and Regulations) is…
Avoid Losing Part of Your Trust in a Divorce
The Massachusetts Supreme Judicial Court recently issuedits decision in the highly anticipated case of Pfannenstiehl v.Pfannenstiehl providing clarity to the lower courts on whethera spouse’s interest in a discretionary, spendthrift trust is subjectto division as a marital asset in a divorce proceeding. TheSupreme Judicial Court concluded that the husband’s interest inan irrevocable spendthrift trust, created…