Veteran Pension Benefits: New Rules Released from the Department of Veterans Affairs

va pension benefits

On September 18, 2018 the long-awaited final rules were released by the Department of Veterans Affairs (VA) regarding pension benefits. The VA Pension is a needs-based benefit for Veterans that served during a period of wartime and spouses of deceased Veterans. The new VA rules dramatically change the current asset and income qualification rules for Veterans applying for pension benefits.

There are several changes to the pension benefit qualifications; however, the two changes that I want to highlight are (1) the imposition of a look-back period and penalty for gifts and uncompensated transfer; and, (2) a change to the requirements for income and assets, which the VA refers to as “net worth”. …

Continue reading Veteran Pension Benefits: New Rules Released from the Department of Veterans Affairs

OWM Newsletter – Stock v. Asset Sale When Buying or Selling a Business & Don’t Procrastinate: Why You Need an Estate Plan

FEATURE ARTICLES – “Stock v. Asset Sale When Buying or Selling a Business” by Joseph K. Koury, Esquire and “Don’t Procrastinate: Why You Need an Estate Plan” by Rebecca A. Hobbs, Esquire, CELA.

OWM FIRM NEWS & UPCOMING EVENTS – Kathleen M. Martin, Esq. and David A. Megay, Esq. have upcoming information sessions.

Read Full Newsletter

OWM Blog – Don’t Procrastinate: Why You Need an Estate Plan

Recent news headlines of well-known and affluent celebrities dying without an estate plan, has had me scratching my head and wondering, “why do people procrastinate estate planning.” I decided to ask close friends and family members if they had an estate plan, and if not, what were their reasons. Although I received answers of, “just not something at the top of our list” or “life is busy”, the overall theme was a fear of the unexpected. Each person I spoke with were aware of the importance of estate planning, they knew they needed to have it done, but they were not sure what all was involved. Estate planning is nothing to be nervous about, and finally checking this item off your “to do list” can be relieving. Let me explain the process and what is involved, hopefully if you have been putting off estate planning, this will help you understand the process and feel more comfortable. …

Continue reading OWM Blog – Don’t Procrastinate: Why You Need an Estate Plan

OWM Blog – Stock v. Asset Sale When Buying or Selling a Business

When buying or selling a business, buyers and sellers have a choice: the transaction can be structured as either a purchase and sale of assets, or a purchase and sale of stock. Where the transaction is structured as a stock purchase, transfer of the ownership of the business entity itself results, and thus the entity continues to own the same assets and have the same liabilities as before. Where the transaction is structured as an asset purchase, the purchaser buys individual assets of the business, such as equipment, inventory, and goodwill, and the business entity itself continues to be owned by the same owner, often with dissolution occurring soon thereafter. The purchaser and seller may have various reasons for preferring one type of transaction over the other. …

Continue reading OWM Blog – Stock v. Asset Sale When Buying or Selling a Business

Retaining Your Individualized Education Program (IEP)

iep

Many families have children who require an Individualized Education Program (IEP) or a 504 Plan while their children are of school age.  There are many reasons why one may be needed involving emotional and physical issues that a child has in trying to optimize their education.  A plan is necessary and very helpful in obtaining services for students while in school.

Continue reading Retaining Your Individualized Education Program (IEP)