Similarly, when businesses move operations to Ohio, they typically do not form new entities and simply continue operating as the same business. Does it matter if you are operating a business that is an LLC registered in another state?  YES, it does.

Any non-Ohio LLC conducting business in the State of Ohio must be registered with the State of Ohio. Beginning February 11, 2022, any non-Ohio LLC (aka a Foreign LLC) must register with the State of Ohio or face:

• Civil monetary penalties; and
• An injunction prohibiting further activities by the LLC until the LLC has complied with the registration requirement and paid any penalties, interest, and court costs that have been imposed.

Avoid the risk, and contact Katie Wahl with Pickrel, Schaeffer, and Ebeling at (937) 223-1130 or kwahl@pselaw.com for information on how to register your non-Ohio LLC with the Secretary of State.

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In 2014, Congress passed the federal Achieving a Better Life Experience (ABLE) Act. The Act made an ABLE Account possible. An ABLE Account is an investment account that permits qualified persons with disabilities to save and invest money without losing eligibility for certain public benefits. These public benefits are generally needs-based programs such as Medicaid and SSI (Supplemental Security Income).
On June 1, 2016, Ohio became the first state to begin an ABLE program. The program is administered by the State of Ohio Treasurer’s Office and became known as the STABLE Account. Prior to the STABLE Account, those with disabilities could save no more than $2,000 before losing needs-based benefits.
With a STABLE Account, an individual with disabilities could save and invest (with Vanguard) up to $15,000 per year, $27,490 if the individual works. The money in a STABLE Account must be spent on Qualified Disability Expenses, including: housing, education, healthcare, transportation, basic living expenses, etc. As long as the money in the Account is spent on these expenses, earnings on the Account grow tax-free. The money in a STABLE Account is not considered a resource for Medicaid or SSI purposes; therefore, the STABLE Account will not prevent an individual from pursuing those benefits.
An individual is eligible for a STABLE Account if their disability began before the age of 26 and the individual must have lived with the disability for one year or expect the disability to last for at least one year. In addition, the individual must be eligible for SSI or SSDI (Social Security Disability Income which is not a means-tested benefit) or have a condition on the Social Security Administration’s list of allowable conditions or “self-certify” their disability.
A STABLE Card, a loadable debit card acceptable wherever VISA is accepted, can be given to the individual with disabilities to be used for Qualified Disability Expenses. There is no cost to open a STABLE Account and can be opened by an individual with disabilities, or an Authorized Legal Representative (ALR) such as a parent, a guardian of the individual, or a designated Power of Attorney.
There are negative aspects of a STABLE Account. While STABLE Accounts appear to be an excellent resource for someone who is eligible, there are some limitations.
If the account exceeds $100,000, the individual’s SSI benefit, but not Medicaid, would be suspended but not terminated until the account is reduced to $100,000. This could affect planning for the individual in case of an inheritance of more than $100,000.
The maximum that a STABLE Account can hold is $482,000 (similar to a 529 Account). Again, this may affect an individual’s inheritance.
Excess contributions to a STABLE Account must be returned to the contributor to avoid a 6% penalty.
Individuals who may have these financial issues, should consider establishing a Self-Settled (“First Party”) Special Needs Trust, known as a (d)(4)(A) Trust. Previously, individuals were not permitted to establish such a Trust for themselves; however, such individuals are now permitted to establish such Trusts for themselves.
There is no limit as to how much a person can have in this Trust. The money in the Trust is not considered a resource and does not affect the individual’s Medicaid or SSI.
As the STABLE Account permits broader payments for expenses, more so than the Trust permits, many people establish this account and the Trust simultaneously.
Upon the passing of the individual, the money in a STABLE Account and the Special Needs Trust, after certain permitted payments, must be paid to the State under the Medicaid Estate Recovery Program to re-pay the State for the amount of Medicaid benefits received by the individual during their lifetime; however, the STABLE Account is obligated to pay the State for Medicaid benefits paid subsequent to the establishment of the STABLE Account.
If you have any questions about your special needs, estate planning or elder law issues in general, please contact Joseph P. Mattera at 937-223-1130 or jmattera@pselaw.com.

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Updated: 3/19/2020

With the continuing spread of Covid-19 and the ever-shifting efforts to contain its spread by Local, State and Federal Government, many of our clients have contacted the firm in relation to contract performance and maintaining their obligations thereunder.  Without question we are dealing with extraordinary circumstances not before seen in anyone’s lifetime.  The collective hope is that the current disruptions will be short lived in both the risks to exposure and also the duration of economic impact to follow.  One thing is certain, however, parties will be looking to their business contracts to either enforce the same or find carve outs for excusable delays or non-performance.  This issue is often addressed within a force majeure provision.  The language of such a force majeure provision, however, may not address current circumstances, including pandemics, epidemics, imposed governmental regulations, etc.  It is also noteworthy that “an Act of God” may not include monetary obligations.  In other words, such a provision excuses performance, but not payment obligations. 

           Having appropriate language within your business contracts and/or your standard terms and conditions may prove critical in the weeks and months to come.  This includes language tied to your existing obligations, or the need for supplemental language in future contracts.  While we fully recognize our clients are navigating and prioritizing a myriad of issues and business concerns at the moment, we want you to know that we are here to help.  If you would like any of our business attorneys to review your existing contract language (either existing contracts or your contract forms for future use), standard terms and conditions, or the applicability of an existing force majeure provision under current circumstances, we would be happy to do so. Please call us at 937-223-1130.

Stay well and be safe.

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Pickrel, Schaeffer and Ebeling is pleased to announce that Katie Wahl has been named a Principal with the firm.  Katie has been practicing law for over 15 years and focuses on business and corporate law, as well as estate planning, probate (including estate administration and guardianships) and Medicaid planning.  As a corporate and business lawyer, Katie focuses on the formation of new entities, assisting clients with the sale or purchase of a business, and succession planning for a business and its owners.  She also has extensive experience in working with non-profit entities to obtain and maintain their non-profit status.

Katie is a 2003 honors graduate of the Notre Dame Law School.  Katie also earned a Master of Arts in Economics from the University of Notre Dame and was the first in the school’s history to combine the two curricula into one program. 

Katie practices out of our Downtown Dayton office in the Stratacache Tower (formerly Kettering Tower) and also in our Troy Office located across from the Miami County Courthouse at 22 Short North Street.  You can contact Katie at kwahl@pselaw.com.  Pickrel, Schaeffer & Ebeling Co., LPA, established in 1915, has been serving clients for over 100 years, would like to congratulate Katie.  For more information about PS&E, please call (937) 223-1130 or visit us online at www.pselaw.com.

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