Understanding the differences between a revocable and irrevocable trust

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Posted on 22nd May 2011 by admin in Probate

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In very simple terms, the main difference between a revocable trust and an irrevocable trust is that a revocable trust, as the name implies, can be revoked. An irrevocable trust cannot. It is crucial that the grantor (party who creates the trust) understands this difference when creating the trust. The differences in the legal and tax consequences of each are significant.

Revocable Trusts – Also referred to as a Revocable Living Trust or a Living Trust, the grantor maintains ultimate control of the trust. The grantor, at any time can change the trust or revoke it altogether. Since the grantor maintains ultimate control, the trust will still be considered a personal asset of the grantor for creditor and estate tax purposes. There are a few good reasons for creating a revocable trust:

  1. If the grantor becomes legally incapacitated, the trust can be managed by the Trustee instead of a court-supervised guardian or conservator.
  2. Trust assets would, upon the death of the grantor pass directly to the beneficiaries named in the trust agreement and outside of probate.
  3. By avoiding probate, the grantor can keep the details about trust assets private. Probate records are made public.

Irrevocable Trusts – An irrevocable trust is simply a trust that can’t be modified or revoked after the agreement has been signed. The reasons for creating an irrevocable trust include:

  1. For purposes of estate planning, irrevocable trusts are used to remove the value of property from the grantor’s estate. If the grantor no longer owns the assets they cannot be taxed upon death.
  2. An irrevocable trust can also be used for charitable estate planning. If the grantor transfers assets into the trust while living, the grantor receives a tax deduction for the tax year the contribution was made. Or, the transfer can wait until the grantor’s death, in which case, the grantor’s estate will receive the deduction.
  3. Another common use for an irrevocable trust is to provide asset protection. Similar to the tax planning concept, a creditor cannot claim assets if the grantor no longer owns them.

There are many more reasons for establishing revocable and irrevocable trusts than can be covered in the space of this article. The best course of action for anyone contemplating a trust would be to seek the advice of an experienced Trusts and Estates attorney.

This article is provided as information only and not intended as legal advice in any means or manner whatsoever, Attorney Adrian Philip Thomas is an Estate Planning Attorney in Florida , and has provided this for informational purposes only.

Hit and Run Accidents in the US – What You Have to Know

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Posted on 20th May 2011 by admin in Legal Info

A hit and run accident is an accident where the driver of an automobile hits a person, another vehicle or property and does not stop to identify themselves as having committed the act, or having been involved in the accident at all. There are roughly 700,000 hit and run accidents every year and they make up 11% of all car accidents in the United States.

The causes of hit and run accidents are the same things that cause most automobile accidents. Among those causes are driving under influence of drugs or alcohol, the driver being distracted, falling asleep behind the wheel, street racing, road rage and a lack of experience driving. The difference between most car accidents and hit and run accidents is the reason why the driver wouldn’t report it. In many cases, the drivers are committing a secondary crime, such as being unlicensed, uninsured, or driving a stolen vehicle and simply do not want to be caught.

The worst part about hit and run accidents is the progressive rise in their number over the past ten years. There are several possible reasons for this rise, such as the number of unlicensed drivers on the road increasing or the economy causing people to hold off in reporting the accident in fear that it could cost them a lot of money if they are proven at fault.

The severity of a hit and run accident in the eyes of the law, like with most laws, is entirely determined by the state which one lives. Some states see minor hit and run accidents where property isn’t damaged and nobody is hurt as a misdemeanor or no offense what so ever. Other states see it as a felony to commit any hit and run accident. Some states even set a price on where a hit and run accident becomes a felony.

Due to the amount of variation in the laws concerning hit and run accidents, it is a good idea to know the law in one’s state. To do so, it’s best to either contact a lawyer for legal assistance or ones local police department for clarification.

This article is provided as information only and not intended as legal advice in any means or manner whatsoever, Kenneth J Allen & Associates P.C. provides focused legal counsel and representation within the area of Auto Accidents and has provided this for informational purposes only.

Common Causes of Medical Malpractice

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Posted on 2nd May 2011 by admin in Legal Info

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When an illness or injury occurs, many people rely on the expertise of medical professionals to provide excellent treatment for recovery. However, since medical care providers are human, errors are possible for numerous reasons. Some of the common causes for medical malpractice are errors with medication doses, a failed diagnosis and surgical errors.

Estimates show that nearly 15 million medical mistakes occur in the United States annually, many resulting in medical malpractice lawsuits. Several types of medical professionals might commit medical malpractice. Typically, a hospital could be held liable when an employee commits malpractice.

Medication Errors

Many adults take a combination of over-the-counter medications, dietary supplements and prescription medications. Unless patients inform their physician about certain medicines, the physician may prescribe medication that interacts negatively with other medicines. Physicians should also know about previous diagnoses before prescribing medications. It is recommended that patients keep a list of all medications – including dosage information at all times.

Improper communication of medication orders at the pharmacy may also cause errors. These may include sloppy handwriting, similar drug names, improper use of decimal points and zeros and confusion about dosing units.

Misdiagnosis of an Illness

A delay in treatment or failure to make a proper diagnosis of an illness might lead to medical malpractice. This is particularly true if the delay or misdiagnosis causes an additionally injury or the progression of a life-threatening disease. Malpractice is a concern when a timely diagnosis could have halted the progression.

Another possible cause of medical malpractice occurs when a patient receives treatment for a condition or disease he or she does not have. The patient is harmed by the medication prescribed or treatment. While the patient receives treatment for the wrong condition, the real health issue is left untreated, possibly causing more harm.

In some cases, a misdiagnosis can occur because of poor communication between the physician and patient. Asking questions or receiving full explanation about treatments and diagnostic tests may stem the problems of medical malpractice.

Surgical Errors

Generally, thousands of patients suffer from surgical mistakes each year. Some of the surgical mistakes that occur include operating on the wrong side of the body, or operating on the wrong patient. Failure to discuss the details about a surgical procedure with the surgeon increases the risks of errors.

Laws regarding medical malpractice are typically for protecting the rights of patients who pursue compensation because of medical negligence. However, most medical malpractice lawsuits can become costly and complex.

This information is for general purposes only and is not a substitute for legal advice. A person should consult an experienced Connecticut Medical Malpractice Lawyer concerning a possible medical malpractice issue.

Possible Side Effects of Accutane

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Posted on 2nd April 2011 by admin in Legal Info

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Accutane is a powerful drug prescribed primarily to treat disfiguring, severe nodular acne. The generic form of the drug is isotretinoin. Accutane is the brand name of Hoffmann-La Roche, the original developer of the drug. Since the company’s patent expired, the drug has also been marketed under a number of other names. Accutane is normally reserved for only the most severe cases and only after all other options have been proven unsuccessful, due to the potential side effects associated to the use of Accutane.
Common Side Effects

Patients may experience any or all of the following while taking Accutane:

• Pain in the joints or deep pain that feels as if it is in the bones
• Stiffness or difficult movements
• Inflammation of the eyes, such as itching, redness, or burning
• Skin rashes, itching, dryness or crusty patches on the skin
• Nosebleeds, usually mild but occasionally severe
• Pain, scaling or peeling, burning, or redness of the lips
• Dry eyes (which may continue even after medication is discontinued) or dry mouth
• Sensitivity to sunlight, which can result in sunburn
• Peeling skin on the palms or feet
• Hair loss

Rare Side Effects

Certain side effects are rare, but have been documented among patients taking the drug. These include:

• Severe stomach or abdominal pain
• Suicidal thoughts or actions, which normally disappear after discontinuing the drug
• Vision problems, including blurry vision, pain in the eyes, or decreased night vision, which has been reported as continuing, even after the drug is discontinued
• Back pain
• Bleeding or swollen gums
• Severe gastrointestinal upsets, including diarrhea, nausea or vomiting
• Bleeding from the rectum
• Depression, mood swings, or changes in behavior
• Severe headaches or headaches that seem continuous
• Yellow tinge to the eyes or skin
• Muscle pain, stiffness, or tenderness

Reported by Patients

Other side effects have been reported by patients, but specific studies have not been able to conclusively link them to the use of Accutane within assigning this to a definite frequency rate. These may include:

• Blood in the urine or mucous expelled while coughing
• Chills or hot flushes
• Constipation
• Difficulty swallowing, speaking, or breathing
• Mental agitation or confusion
• Dizziness or fainting
• Pain in the ears, changes in hearing, or buzzing and ringing in the ears
• Heartburn and indigestion
• Hives
• Reduced appetite
• Bladder problems, including control problems or painful urination
• Soreness or loosening of the nails
• Acne that spreads to the trunk or chest
• Insomnia
• Facial hair growth
• Lethargy or unusual fatigue or weakness

Potentially Severe Side Effects

Some potential side effects are quite severe. Women who take Accutane while pregnant, risk giving birth to a child who has severe defects. There is also some evidence of a link between Accutane and gastrointestinal diseases such as inflammatory bowel disease, Crohn’s disease, and ulcerative colitis.

Goldberg & Osborne, a personal injury law firm, has provided this article for informational purposes only, written by an independent author, and has not reviewed or edited this article and is not responsible for its content or accuracy.

What to Do When Your Child is Injured at School

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Posted on 25th June 2010 by admin in Uncategorized

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Children often enjoy school. It is a time where they get to see their friends and learn new things. However, there can be times where school can be bad for a child and a parent. One of these times is when a parent finds out their child has been injured at school. What to do when your child is injured at school is rather simple.

First, you need to ensure your child is both physically and emotionally safe. Having a child that is not fixed in both physical and emotional ways is extremely dangerous. Take your child to a hospital or their doctor to ensure their injuries are checked over and documented. This documentation will become important should you decide to sue the school.

Second, it is important to consult with the school about what happened. The school should have filed out an incident report that will state exactly what happened. Ask the school for a copy of this report. Ask your child what happened and check to see what they say is what the report reflects. The report and your child may have different versions of the events and it is important to determine which set is correct for the injury.

Third, consult with legal counsel. Your legal counsel will want a copy of all relevant reports include the school incident report, copies of your child’s medical records and a sworn statement made by witnesses and your child. They will guide you through the process to ensure all of the relevant information is gathered and that your child does not have to be injured without legal recourse. It is important to consult with a lawyer as soon as possible after the injury or accident. While there is no statute of limitations in criminal law it is becoming increasingly difficult to prove a case after weeks or months of time has elapsed.

The information contained within this article is not legal advice and should not be taken as such.

If your child has been hurt at school in Indiana, contact the qualified attorneys at Ken Allen Law.

Financing Nursing Home Care

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Posted on 24th June 2010 by admin in Uncategorized

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There may be many reasons why one would consider home nursing care for a loved one. This is the case normally in situations where the loved one needs long term care to either get better or live in more comfort. Unfortunately financing nursing home care is difficult.

The average annual cost for home nursing care is about $50,000. This may be out of reach for most families. More so since most of these conditions are not planned. It is not surprising to find families going through all their savings to keep their loved ones in a more comfortable home setting. This does not have to be the case.

So, how can one finance home nursing care? Personal finances are normally the first options for most families. However, since home nursing care is not in most budgets, it does not take long before this source runs dry. Many families have found themselves in serious financial difficulty once they depend on this as their only source of funding.

When personal financing becomes untenable, most families fall back on Medicaid and Medicare. Medicaid may pay part or all of the home nursing costs through the Medicaid Nursing Facility Program. Medicare also helps for people over the age of 65 years. The problem with both is that they have strict eligibility requirements. Since they are state and federally funded programs, you are required to meet part of the costs for home nursing care. For example, Medicare does not pay for custodial care and usually pays for a limited time. However, for the family in a dire financial situation, they are very important.

For those that would like to take control of their own lives, then long-term care insurance comes in handy. This private insurance protects assets against situations that require extended long-term care. It usually covers the cost of care in a nursing home, adult day care and your home. One should not underestimate the costs of home nursing care. Not only does it devastate your finances, it is also emotionally draining. You need to plan for these situations to avoid difficulty in financing nursing home care.

This article is not legal advice. People seeking legal assistance with elder law should contact Attorney Andrew M. Lamkin.

The Recall of Yaz

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Posted on 18th June 2010 by admin in Uncategorized

In November 2009, the U.S. Food and Drug Administration recalled some of the birth control pill Yaz, due to unsafe practices during manufacturing.

While Yaz is still on the market, its maker, Bayer Healthcare Pharmaceuticals, is facing an undetermined number of lawsuits. Yaz is said to have contributed to heart attacks, strokes, blood clots, gallbladder disease, kidney disease and sudden death in countless women. Yaz is made with drospirenone and ethinyl estradiol. The drospirenone is a diuretic and can cause electrolyte imbalances, specifically the increase of potassium which can lead to blood clots, kidney disease and gallbladder problems.

Yasmin, a similar contraceptive, was approved by the FDA in 2001. Yaz wasn’t approved until 2006, and many of its users claim that they have had severe side effects from the pill which they were never warned about. In 2008, the FDA required that Bayer Healthcare Pharmaceuticals relaunch the pill’s campaign to include the more severe side effects, and to clarify the other benefits of the pill, like its use in treating acne.

Although the recall wasn’t widely heard about, almost 33,000 boxes of Yaz were recalled. There was also a recall of Yaz’s generic equivalent, Ocella. More than 120,000 boxes of Ocella were affected. The problem stemmed from a manufacturing plant in Germany. Some of the pills may have contained too much drospirenone. Other pills were dispensed using dirty equipment that was labeled clean. Instead of destroying those batches, the number of bad batches were averaged with the number of good batches to make it look like the drug was within specifications. The FDA warned Bayer that the averaging practice was fraudulent and unacceptable.

At present, there is no indication that there will be more recalls but Yaz class action lawsuits are likely. Bayer Pharmaceuticals faces a combination of lawsuits in the United States, as well as Canada.

Questions to Ask Before Hiring a Lawyer

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Posted on 31st May 2010 by admin in Uncategorized

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Much thought should be put into the hiring of a lawyer. Whether legal services are needed for a seemingly simple matter or something devastating, choosing a lawyer is a highly personal decision and requires forethought and consideration.

  • Why do you need a lawyer? While some lawyers cover several areas of legal concern, most parties prefer the services of a lawyer who specializes in one area of the law.
  • How do you feel about the lawyer after the initial consultation? Is this lawyer personable or do they exude the aura of the dread ‘ambulance chaser?’ If this lawyer was recommended by a friend or colleague, how was their case handled?
  • How much will this case cost? Laws vary state to state about when the lawyer must put their fees in writing. Some states require they must do it before services begin but other states only require it within a reasonable time. It is important to be clear on what the fees are, whether they are based on contingency, and what the payment structure is. Be sure to know if there are extra fees for document copying or courier services.
  • What are the terms of the retainer agreement? For fifteen minutes work does the lawyer charge by the hour or do they charge for fifteen minutes? How frequently are updates given about how the money is spent?
  • How accessible is he? If you have questions about the case, how long do they take to return the phone call? Will this lawyer provide a cell phone number and email address, and how often are updates given on the case? Do they have a lengthy vacation scheduled in the near future?
  • Does this lawyer have an upstanding record? It is important to know if they have gone before an ethics committee, and what the outcome was. If they were suspended, find out why. Have they been disciplined in the past?

Hiring an attorney is frequently necessary during a highly stressful and emotional time in one’s life. By taking a deep breath and a step back from the situation, and by asking questions, you can be rewarded with a fruitful lawyer/client relationship. Consider contacting the attorneys at Jodat Law Group if you live in the state of Florida.

Car Accident Statistics in the US

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Posted on 31st May 2010 by admin in Uncategorized

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Each year in the United States, over 6 million car accidents occur and nearly 40,000 people are killed. Every 12 minutes, a person dies in a car accident. Furthermore, the leading cause of death for individuals between the ages of 2 and 34 is car accidents. Each year, nearly 2 million people are permanently injured in a car accident and every 14 seconds, someone is injured in a car crash.

Every individual should be informed of rules of the road and take safety precautions to avoid car accidents and fatalities. Studies show that each year, twenty-five percent of drivers are involved in an auto accident within a five year period. Thirty percent of all fatal car accidents are a result of excessive speeding. This is the second most common cause of deadly auto accidents. Each year, accidents cost Americans, $164.2 billion. If the cost is averaged and divided upon every American, it would cost each American more than $1,000 per year.

The leading cause of death of children between the ages of 2 and 14 is car crashes. Each year, nearly 2000 children are involved in fatal car accidents. Almost 700 children are harmed each day in motor vehicle crashes and nearly 250,000 each year.

Car accidents are the single most contributors to disabilities in the United States. Therefore, it is imperative for individuals to take all necessary safety precautions when traveling on the road.

Other Car Accident Statistics in the United States

Traffic fatalities have reached a record low in 2008. The number dropped 9.7 percent from 2007, making it the largest decline in automobile crashes since 1982. In 2009, the number continued to decrease. This is the lowest the number has been since 1961. The automobile fatalities have been on the decline for the past 6 years, according to the National Highway Traffic Safety Administration (NHTSA) fatality crash data. In 2008, only 2.35 million people were injured in car accidents. This is the lowest reported number since 1988.

Nearly 4.2 million automobile accidents resulted in property damage last year. Only 34,017 of those automobile accidents ended in death. The number of fatal crashes in urban areas decreased 11 percent in 2008 to 15,983. Conversely, the number of rural fatalities decreased 10 percent to 20,905 in 2008.

This article is purely for informational purposes and is not intended to serve as legal advice.

For more information or if you have been involved in a car accident and need legal advice, visit the Law Firm of Kelley Uustal in Fort Lauderdale.

Criteria for Filing a Defective Products Claim

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Posted on 31st May 2010 by admin in Uncategorized

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Defective products law is a reference to the liability of one or more participants in the production of goods that may cause harm or substantial damage. Parties include manufacturers and assemblers of products as well as people who distribute the products and make them available to consumers. The production chain ends with the retailer who is also liable for any danger that a product may pose to consumers. Defective products lawsuits usually constitute the use of products that are defective. For most people a product is something can be touched but defective products law now caters even for items that are intangible.

Evidence for Defective Products Claim

Defective products law claims have the basis of negligent activities or warranty breaches in which a product fails to live up to the functions it is meant to fulfill. Different states have different product liability laws. Regardless of in which state that one is, the defective products law requires individuals or plaintiffs who bring out lawsuits to prove that the product had defects. A number of product defects exist and these count as a liability for suppliers and manufacturers.

Design Defects as Defective Product

Design defects are perceived as defects that were in existence even before the product was formed. Even though the product might function well, the design defect is considered to be dangerous. Defective products law defines manufacturing defects as those that occur when the product is being manufactured. This usually means that a small number of a range of products are defective. Marketing defects are mainly concerned with the lack of instructions or instructions that are unclear. It is also concerned with a lack of adequate warnings regarding the safety of the product.

The defective products law does not place emphasis on the good intentions or attempts to be careful on the part of the producer. Whether or not the producer exercised caution during the manufacturing or distribution process does not redeem him if the product is defective. The liability offense is based on the end result and not what went on before the consumer gained access to the product.

This article is absolutely not intended for legal advice. Please go and visit the Searcy Law attorneys in West Palm Beach, Fla. to know about defective products law.

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