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First-party and third-party special needs trusts protect benefit eligibility

Individuals with special needs often depend on government benefits in order to afford things that many of us take for granted — including health care, education, healthy food and a safe home. But when someone with special needs acquires significant assets for any reason, their eligibility for government benefits may be jeopardized. Special needs trusts hold these assets outside the ownership of those... 

Age-Related Financial and Planning Milestones that People Will Encounter in their Sixties

As one nears retirement age, a number of important financial planning milestones begin to approach. It can be difficult to keep them all straight. Here is a timeline of what happens when: At age 59 1/2, people can begin to make withdrawals from 401(k)s, traditional IRAs and similar retirement savings accounts, without an additional tax [...]  Read More →

IRS Raises Lifetime Limit For Tax-Free Gifts

There are two different IRS limits that affect how much an individual can give to another without the imposition of a gift tax: an annual exclusion and a lifetime exclusion. In 2014, the annual limit is not changing, but the lifetime limit is increasing. During 2014, one may give up to $14,000 to each recipient before having to file a gift tax return, the same limit as in 2013. Spouses can double... 

Lawsuits Begin in Derailed Train Accident

Three lawsuits have been filed since the Blue Line train derailed at Chicago’s O’Hare International Airport in which 32 people were injured. Although the investigation is ongoing, Robert Kelly, president of the Amalgamated Transit Union Local, said there were indications the female operator of the train “may have dozed off.” Niakesha Thomas, a single mother of a one-year-old suffered... 

Polk County Circuit Judge Harlan retires in agreement with prosecutor to drop Grand Theft charge against her.

Another sad day for the judiciary.  Judge Beth Harlan retired from the Polk County Circuit Court bench in an agreement with State Attorney Jerry Hill.  This offer was made prior to Judge Harlan being charged with a criminal offense, but she rejected the offer and fought the charges.  Recently, her attorneys filed a Motion to Dismiss the criminal charges arguing that no crime was committed.  Criminal... 

Claims of Illinois Personal Injury Lawsuit Abuse Are False – Podcast

Claims of lawsuit abuse in Illinois are false. This and other topics discussed in this month’s Chicago Injury Alert.  Read More →

Boaters can be charged with boating under the influence

Just as drunk driving laws prohibit the operation of a motor vehicle while under the influence of intoxicants, so do boating under the influence laws prohibit operating a water vessel. However, there are important differences between drunk driving laws and drunk boating laws. In Michigan, the legal blood alcohol content (BAC) for operating any kind of watercraft is 0.10. If an operator has a BAC at... 

Group Life Insurance Basics

Many companies ensure that there are a number of attractive components to the group life insurance they offer their workers. Many offerings may include (but are not necessarily limited to) comprehensive plans, accidental death and dismemberment insurance and business travel accident plans. When you are hired, be sure to ask about group life insurance coverage at your new company. A comprehensive plan... 

Group Life Insurance Basics

Group Life Insurance Basics: Many companies ensure that there are a number of attractive components to the group life insurance they offer the… http://p.ost.im/8UJJdA  Read More →

Solid Life Insurance Leads

Whether you are just starting out as an insurance agent or have been selling for years, it is good to make sure you know where to go for dependable leads. In the worst scenarios, up to seven other agents fight to get a sale on a single lead. This process is a waste of almost everyone’s time. With shared leads, you often spend much of your time on the phone listening to irate potential customers who... 
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