SMDA, PC is proud to announce that one of our founding partners, Phillip Serafini, has once again been selected as a Super Lawyer for Plaintiff’s Personal Injury Attorneys for 2022.
Court of Appeals Decision Represents Major Victory for Survivors of Catastrophic Crashes and their Families
Legendary Detroit Broadcaster Passes Away
We at Serafini, Michalowski, Derkacz & Associates, P.C. are sad to learn of the loss of a Detroit original, Bob Allison. Bob, passed away, recently, at the age of eighty-seven (87), following a fall at home. Our condolences go out to his wife Maggie and their three (3) sons.
His long and storied career as a journalist, broadcaster and TV personality began on the radio in 1962 with “Ask Your Neighbor“. The show continued to air, in one way or another, most recently on WNZK 690 AM, for well over fifty (50) years. Bob, also enjoyed some local fame as the host of “Bowling for Dollars”which aired locally on “channel 4” before it became WDIV. He worked throughout the metro-Detroit area and touched many listeners and viewers with his friendly voice and honest answers.
Our firm is proud to have been a regular contributor on the Ask Your Neighbor show during the legal hour, in the past, as a guest contributing host. As a guest host, we got to know Bob and his son Rob extremely well and truly feel like we lost a great neighbor.
Compliance with Michigan Executive Order 2020-21
In compliance with the governor’s order regarding shelter in place and stay safe at home policies, the firm has implemented the following policies consistent with Executive Order 2020-21.
Pursuant to Section 4 paragraph (b) the firm has identified its essential employees necessary to conduct minimal business transactions, like banking, payroll processing, employee benefits and ensuring that those of us that are working from home have the ability to work remotely. Each designated employee has a “transit letter” within his or her possession.
For compliance with the executive order the following information is available:
The Secure Act and Estate Planning
The SECURE Act (Setting Every Community Up for Retirement Act) passed into law effective January 1, 2020. Although it is uncertain how the act was named, it is certain that this act will significantly impact estate, tax and income planning for baby boomers and their children. This act will force Americans with IRAs and other “qualified assets” to recognize more income, upon inheritance.
For years, the IRS allowed beneficiaries of an individual retirement account (IRA) to defer their receipt of income over their individual lifetimes through the use of the stretch distribution provision. This is no longer possible as the act changes the way in which a beneficiary can elect to receive his or her own share of a decedent’s account: either as a lump sum distribution or as a ten (10) year plan of distribution. The inherited “stretch” IRA is no longer an option after January 1, 2020. As a result, the government will begin to receive more taxes from inherited income beginning 2020 moving forward.
The act does provide some relief as it puts off the age for required minimum distributions (RMDs) until the age of 72, if you have yet to begin receiving your RMDs prior to 2020. It also repeals the maximum age of which a person can contribute to his or her IRA; allows for expansion of 529 plans; and, provides credits to small businesses that setup automatic enrollment into their retirement plans.
VA Planning After “The Lookback”
A year into the “new VA regulations” it is clear that planning for VA benefits is still a viable longterm care planning strategy. On October 18, 2018 as part of a comprehensive plan to help reorganize the Department of Veterans Affairs and benefit programs themselves, the VA finally adopted new regulations affecting the non-service related improved compensation benefit program or as we refer to it, A&A (aid and attendance).
Among the changes:
- A three (3) lookback period.
The importance of Medicaid planning
If your parents are at the age when illnesses and medical conditions are a concern, you will have worries about the costs of long-term care. One of the biggest problems confronting senior citizens today is the extraordinary cost of this care. Such costs can exceed one’s entire lifetime savings. When proceeds come to an end, the only option may be to apply for Medicaid.
However, while Medicaid does pay the costs of long-term care, eligibility is complex. One of the eligibility requirements is that the amount of assets your parents can own individually and jointly is extremely limited.
“Look-back” period
SMDA Is A Proud Sponsor Of JennaThon
This is a wonderful organization and our firm is proud and privileged to be a sponsor and a part of helping achieve its mission.
Learn more about this great organization by visiting their website at www.believeinmiracles.org
Steps to take if a friend’s dog bites you
You may be over at a friend’s house when, out of nowhere, an otherwise friendly dog bites you. Over 4.5 million Americans receive dog bites each year, shares the American Veterinary Medical Foundation. While a decent amount are superficial wounds that do not require any medical attention, plenty of people need to go to the emergency room to address the wound.
You are put between a rock and a hard place when a friend’s dog bites you. You want compensation for your injury, but you also do not want to damage the friendship. During this time, the most important thing is your health, and you should take the following steps after suffering a dog bite.
Get medical attention
FOLLOWING UP WITH YOUR DOCTOR AFTER A CAR ACCIDENT
Some car accident victims suffer from evident pain immediately after a car accident, such as a broken bone or back injury. Others, however, may not experience the pain right away. Some people may think that their pain is not severe and will go away on its own.
There is no question that it would be in your best interest to see a doctor after a motor vehicle accident. You may not immediately experience pain, but that does not mean that you have not suffered an injury, or that you will face one down the road. Clients have frequently stated that immediately after an accident they were not in pain and that the pain came days, or even weeks, later.
Being a victim of a car accident can be a very scary and confusing time. Many people are unsure of the steps they need to take to ensure they receive benefits they are entitled to. If you or a loved one has been injured as a result of a car accident, call SMDA Law today to schedule your free consultation. It is important to know and understand your rights.