ESTATE TALK
Ambiguous Language Nearly Costs Estate a Charitable Deduction
When Kenneth Starkey died, his will created a trust and directed that half of the trust’s income be paid to Lawndale Community Church. However, the will specifically stated that "the trustees are to manage the property of the Trust for the benefit of this beneficiary, missionaries of the Gospel of Christ, and Milligan College." The attorney who drafted the will was Starkey’s son, who had little or no experience drafting such instruments.

MEDI-MINUTES
Medicare HMO Withdrawals Effect Fewer Seniors in 1999
A recent report by the Office of the Inspector General of the Department of Health and Human Services states that 1999 Medicare withdrawals affected fewer beneficiaries than the 1998 withdrawals but left more beneficiaries without HMO options.

MONEY MATTERS
New Bill Would Raise Contributions
The Senate Finance Committee has approved a bill that would raise annual contribution limits for 401(k) plans and IRAs. 
 
 

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NATIONAL NOTES
Injuries Due To Medication Errors Common in Nursing Homes, According to Study
Injuries related to medication errors are common in nursing homes, according to a study by researchers at the University of Massachusetts Medical School, Meyers Primary Care Institute. In fact, more than half of the 546 medicate-related injuries that were identified in 18 community nursing homes were preventable.

OF INTEREST
Charitable Giving Is Up Again
According to the AAFRC Trust for Philanthropy’s estimates for 1999, charitable giving topped $190 billion last year, with most of the increase attributed to personal giving as opposed to foundation or corporate giving. 

TAX TID-BITS
Final Regs: GRATs & GRUTs May Not Use Notes as Annuity or Unitrust Payments
The IRS has issued final regulations concerning the use of debt obligations to satisfy annuity or unitrust payments for grantor retained annuity trusts and grantor retained unitrusts.