Ohio is one of few states that allows funding of a “Pooled” trust for persons over 65 years of age. What is a pooled trust? A pooled trust holds assets of disabled persons without the funds being counted towards the asset ceiling for persons applying for Medicaid. Transfers to a pooled trust are not considered “improper transfers” by Medicaid. The…
Cavitch partner Mike Rasor filed petitions to run for the Ohio House of Representatives on Tuesday. Rasor, a Republican, has served on Stow City Council since 2010. He will seek to replace Kristina Daley-Roegner, who is term limited. The 37th Ohio House district...
Do you have a high conflict case? Do you have a case with significant parenting concerns? Parent Coordination Services may be the solution. Jennifer Himmelein is an experienced attorney who can handle demanding tasks of parenting coordination in Cuyahoga and Lorain Counties. But when do you know if it’s time to contact a parenting coordinator, or a family law attorney…
Cavitch, Familo, & Durkin Co., L.P.A., representing a construction company for its ERISA and pension related matters, assisted in achieving a favorable ruling before the Arbitrator, United States District Court of the Northern District of Ohio (“Northern District”), and Sixth Circuit Court of Appeals (“Sixth Circuit”). The decision reversed a $5.1 million pension liability imposed by an ironworker’s pension fund.…
You’ve heard of IPOs. The wave of the future might be ICOs (initial coin offerings). Their issuances have surpassed $4 Billion. But the SEC is urging the industry to pump the brakes. Startup Cryptocurrency Regulated as a Security Last week, SEC Chairman Jay Clayton released a letter that strongly suggests that, by issuing a digital coin in exchange for cash,…
Chapter 11 bankruptcy filings are down anywhere from 60 to 80 percent from the last peak in 2010, but that doesn’t mean there haven’t been some pretty significant cases filed in recent memory. A respectable number of large, publicly held companies in retail, energy and a hodgepodge of other sectors have entered Chapter 11 in the last year or so,…
So you’ve made the milestone decision to sell your family or closely held business to a sophisticated buyer—perhaps a “financial buyer” (i.e., a private equity fund) or a “strategic buyer” (i.e., a competitor) —and, to your shock and dismay, the purchase price is not simply one, lump-sum payment of cash on the barrel head at closing. You will first notice…
Digital assets, including email accounts, blogs, websites, video channels, social media accounts, digital photos and other files stored on a web-based cloud, are more prevalent in today’s digital economy, which is why they are of increasing importance in the estate planning process. Gaining access to these accounts will be critical for the executor – whether it’s to close the accounts…
The major reason why family businesses fail to transition between generations is dysfunctional family dynamics, not taxes. In September of 1997 (when taxes were much higher than they are now), the Journal of Business Venturing published a survey of family business owners about the factors for the breakdown of family business transitions. The study, and findings published in article “Correlates…
The U.S. Department of Health and Human Services Office of Inspector General (OIG) has issued an “early alert” titled “The Centers for Medicare & Medicaid Services Has Inadequate Procedures to Ensure That Incidents of Potential Abuse or Neglect at Skilled Nursing Facilities Are Identified and Reported in Accordance With Applicable Requirements.” This early alert preceeds the full report of the…
