New Tax Law Eliminates Alimony Tax Deduction

A few things are certain when going through divorce, but the tax status of alimony payments was always a given.  Alimony, which is support provided by one ex-spouse to the other after a divorce has been entered, has historically been deductible to the payor and includable as income for the payee.  That is no longer permitted. On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act which took effect on January 1, 2018.  The new law eliminates the tax deduction for alimony payments.  As such, alimony payers will no longer be permitted to deduct alimony on their taxes.

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OWM Blog – Average Costs of Nursing Home Care in Pennsylvania

Knowing the cost of long-term care helps individuals plan for this expense.  Just as it is important to plan for retirement, it is equally as important to plan for one’s potential need for long term care.  Annually, Genworth Financial conducts a Cost of Care Survey, the 2017 survey was conducted by Carescout®.  It may not come as a surprise that the cost of nursing home care in the United States increased in 2017. Genworth’s survey reports that the national median cost of a semi-private room in a nursing home is $85,775.00, up 4.44% from 2016 and the cost of a private room increased over 5% to $97,455.00 annually.

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OWM Newsletter – Elder Law and Special Needs Planning

FEATURE ARTICLE – Rebecca A. Hobbs, Esquire, CELA, summarizes the practice of Elder Law and Special Needs Planning, which includes the counseling and representing older persons as well as persons that have a disability, their representatives and families.

STAFF SPOTLIGHT – Meet Patti Sowers, OWM Document Production Specialist.

OWM FIRM NEWS & UPCOMING EVENTS – Rebecca A. Hobbs, Esquire, CELA, Melissa A. Iacobucci, Esquire, David A. Megay, Esquire, and Kathleen M. Martin, Esquire, CELA have upcoming speaking engagements.

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OWM Blog – Elder Law and Special Needs Planning

The National Academy of Elder Law Attorneys (NAELA) defines elder law by the client to be served, rather than by the type of law practiced by the attorney. In other words, a lawyer who practices in the area of elder law has a specific type of client, seniors and clients (young and old) that have a disability. Elder Law is the legal practice of counseling and representing older person as well as persons that have a disability, their representatives and families. Elder Law includes health and long-term planning, guidance on public benefits, legal capacity, estate planning, and administration of trusts and estates. Legal problems that affect the elderly and persons that have a disability are growing in number, and becoming more complex. Moreover, a single action taken by a senior citizen or person that has a disability can have unwanted and unintended legal effects if consultation with an elder law attorney is not undertaken. …

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Staff Spotlight: Patti L. Sowers – January 2018

Staff Spotlight: Patti L. Sowers - January 2018In our continuing Staff Spotlight series, this month we are featuring our Document Production Specialist, Patti Sowers. What is a Document Production Specialist you ask? Well, Patti is an expert typist and experienced Legal Assistant and she produces all of the Wills and Powers of Attorney for OWM Law Attorneys. She is also a Notary Public, so she coordinates all of the signing appointments for Wills and notarizes the documents. In addition, Patti is called upon to assist with dictation and typing of lengthy, complex documents, as needed. …

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I’m Thinking of Buying a Rental Property…What Now?

real estate attorneyIf you are thinking about buying real estate that has rental units or tenants already on the property, you really should give some strong consideration to reviewing the leases ahead of time.

This applies to residential properties (i.e. apartment units) and commercial properties (i.e. retail, industrial, etc.). Before signing a formal agreement of sale, or even putting an offer in to purchase a property, I recommend that you work closely with your realtor and your real estate attorney and insist upon the following:

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