Current Issues with Medicare Set-Aside Alternatives

One of the most interesting issues we face regularly is whose house is it anyway? Couples often pool money, borrow money, and waste money for that beloved home which finances need to be traced, accounted for, argued, and resolved.

In this session, we will demonstrate the computations practitioners should use to calculate the average weekly wage to factor in:
missed days from work
overtime
seasonal employment
concurrent employment
bonuses/shift premiums
volunteers
school district employees/teachers who are paid for the year but only work 36 weeks
possible windfalls
Originally part of the 9th Annual Workers' Compensation Institute

The legislation that originally created the Transfer on Death Instrument became law in 2012. It is codified as 755 ILCS 27/1 et seq. (“The Act.”) This statute was amended in 2015. There is now a second amendment, Public Act 102-0068, which is effective January 1, 2022. Public Act 102-0068 is truly a major revision of the Act. Consider just a few of these new changes: The Act is no longer the Illinois Residential Real Property Transfer on Death Instrument Act because the Act is no longer limited to just residential real estate. Effective January 1, 2022, a spouse can now renounce a Transfer on Death Instrument and take his or her statutory share. Dick Bales has put together a comprehensive 26-page handout where he thoroughly discusses all the changes to the Act. When appropriate, he uses situational examples to better illustrate these changes. In addition, he has put together a list of what he feels are some areas of concern to both attorneys and title companies.