Articles

Before taking any distribution prior to age 59½, every participant and IRA owner should review the available exemptions from the premature distribution penalty and confirm that an available exemption applies.

2022 mergers and acquisitions among insurance agencies and brokers in the U.S. and Canada declined 17% from the record set in 2021.

On January 18, 2023, Erie City Council passed “Erie City Official Ordinance 3-2023” which will create a new series of requirements and fees for lenders instituting foreclosure actions and owners of vacant houses located in the City of Erie.

The New Year is the perfect time to check your estate planning documents and beneficiary designations.

On January 5, 2023, the Federal Trade Commission (FTC) published a proposed rule that would prohibit employers from enforcing and imposing non-compete agreements on workers. It is debatable whether a final rule will ultimately be published.

As highly anticipated, the U.S. Congress passed SECURE 2.0 in late December 2022. Following is an overview of certain provisions with which retirement plan sponsors and custodians will want to become familiar. Some, if not all of these changes will call for interim plan amendments which as of now are not required until the last day of the plan year beginning on or after January 1, 2025 (or 2027 for governmental plans).

Pennsylvania Act 122 of 2022 amends Title 15 of the Pennsylvania Consolidated Statutes dealing with Corporations and Unincorporated Associations, which now requires an annual report filing for various entities organized or authorized to do business in Pennsylvania.

The road to financial freedom and peace of mind is not always smooth. The following are ten reasons to hire an experienced elder law attorney to navigate long-term care and Medicaid issues.

Because of the delay between the passage of the SECURE Act and the timing of the proposed regulations and the divergence of guidance regarding the manner in which the 10-year rule would be applied to the post-death RMDs, the IRS issued Notice 2022-53 on October 7, 2022 to provide some relief.

The EEOC has just announced the release of the updated poster, “Know Your Rights: Workplace Discrimination is Illegal.” Employers are legally required to display this poster in “a conspicuous location in the workplace where notices to applicants and employees are customarily posted” or face possible penalties.

Everyone with assets should have an estate plan. If you die without a will in Pennsylvania, there are pre-determined rules concerning what happens to your assets.

A look at women and retirement planning, including guidance from the U.S. Department of Labor.

This is a question we get often from clients: “My father [or mother] is already in a nursing home. Is it too late to protect and preserve assets?” The simple answer is “no.” Many of the clients we serve are in this situation, or about to be. We can help determine the best course of action based on your family’s specific situation.

Another technique for accelerating an applicant’s qualification for Medicaid and/or preserving family assets is to convert assets that would otherwise be counted toward the Medicaid resource eligibility limits (countable assets) into non-countable (or exempt) resources.

Qualifying for Medicaid often involves accelerating expenditures to reduce an applicant’s countable resources down to the required level. One technique for spending down assets to accelerate qualification is through the use of a Family Caregiver Contract.