AR&H News & Blog
PPP Loan Forgiveness Applications May Be Subject to Denial and Delay
By Daniel A. Perry, Esq. On March 27, 2020 the United States government signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act. A key part of this legislation included the Paycheck Protection Program (PPP), which provided two-year loans of up to $10 million with an interest rate of 1%. Individual small businesses were […]
Is it Time to Reconsider an Intentionally Defective Grantor Trust?
By Daniel A. Perry, Esq. As we navigate the COVID-19 pandemic and review legislation which has passed and is pending, one cannot help but debate whether an amendment to the Federal Estate and Gift Tax may be on the horizon. The Federal Estate and Gift Tax is a tax which is levied upon assets which are […]
How to Budget for Long-Term Care Expenses
By Daniel A. Perry, Esq. When families acknowledge the fact that they need to budget and plan for long-term care expenses, it is usually the result of a terrible experience involving their loved ones. I have heard all the stories in my practice of helping families navigate these complex legal issues. Typically, the story begins in […]
You Received Your PPP Loan — Having It Forgiven May Be Another Story!
By Daniel A. Perry, Esq. There is no doubt that 2020 has been a challenging year for small businesses. A global pandemic has upended our way of life. As of May 19, 4.9 million people have been infected worldwide resulting in more than 300,000 deaths. Not to overlook the health ramifications of this pandemic, but the […]
The Dangers of Underreporting Family Limited Partnership Income
By Daniel A. Perry, Esq. A Family Limited Partnership (FLP) is a family-controlled business entity which provides liability protection and a manner to transfer business assets, and other assets, to the next generation without giving up control during the owner’s lifetime. When it comes to family businesses, this can be a very powerful estate planning tool. […]
How to Protect Life Insurance Proceeds from Creditors
By Daniel A. Perry, Esq. I was speaking with a client recently as part of their comprehensive estate and wealth planning and they asked if their life insurance proceeds would be protected from creditors in the event of their death. This is a very common question and the answer depends almost entirely upon state law. In […]
IRA Distribution Tax Planning Under the CARES Act
By Daniel A. Perry, Esq. The Coronavirus Aid, Relief, and Economic Security Act (commonly referred to as the CARES Act) was signed into law by President Trump, following bipartisan support, on March 27, 2020. In total, this was a $2.2 trillion-dollar stimulus package. Since then, there have been discussions in Washington D.C. regarding a second and […]
Major Coronavirus Legal Issues Affecting Businesses
By Daniel A. Perry, Esq. As of the date of this article, several states are beginning to lift their shelter-in-place and social distancing orders. As a result, many more people will be returning to work in the weeks and months ahead. From a public health perspective, it is yet to be seen whether this is a […]
Do You Have to Spend Down Your Assets to Qualify for Ohio Medicaid?
By Daniel A. Perry, Esq. A common misconception that many clients have is that, while receiving long-term nursing home care, all of their assets must be spent down in order to qualify for Ohio Medicaid assistance. In order to address the implications of long-term care, we must first discuss how one qualifies for Medicaid in Ohio. […]
Five Steps for Families during the Estate Administration Process
By Daniel A. Perry, Esq. If you are reading this article, you have likely been faced with the death of a loved one. If that is the case, please let me express my condolences for your family’s loss. You probably have many questions about the legal aspects of estate administration. Here are just a few of […]