Creating a Solid Life Plan for the Future
We work hard to make sure our young children are safe, happy and healthy. We look in to their eyes and feel an innate need to ensure their well-being. We take them to the doctors at the earliest sign of…
Different Trusts for Different Purposes: Part One
Trusts are a common and popular part of many estate plans. However, despite the commonplace of trusts some people do not understand how some of these trusts work and therefore feel they do not have a need for one. Trusts…
The Importance of Estate Planning: Protecting Your Family’s Future
Get the estate planning documents in place. John was in good health but unfortunately passed away leaving his wife, Angela and their three children to not only deal with his loss but also his estate. He managed the family's financial…
The Power of Attorney: A Must-Have for College-Bound Kids
It’s that time of the year again, when our children are starting to say goodbye to their summer vacation and gear up for a new school year. It’s around this time when many parents will take their kids off to…
The Evolution of Social Security
On August 14, 1935 President Franklin Delano Roosevelt signed the Social Security Act into law, and thus created what is now considered by many as the foundation of retirement in America. The Social Security Act established a revolutionary new form…
The Impact of the Recent Amendment to Real Property Tax Laws
Governor Cuomo recently signed an amendment to the Real Property Tax Laws that will continue partial tax abatements for cooperatives and condominiums held in trust. In January 2013 the New York State legislature passed Chapter 4 of the Laws of…
Medicaid: Mistake #6 – Not Getting Professional Help
Many people get their Medicaid counseling from a friend or neighbor at the coffee shop, or from someone with a financial interest in some particular strategy. Don’t do it! Whatever money you “save” by trying to handle these matters yourself…
Same-Sex Couples Now Eligible for Social Security and Medicare
Thanks to the Supreme Court’s recent decision striking down the Defense of Marriage Act in U.S. v. Windsor, same-sex married couples can now enjoy two of the cornerstones of retirement planning – Social Security and Medicare benefits. Now that same-sex…
Lessons from James Gandolfini’s Estate Tax Planning Mistake
I’m sure James Gandolfini had good intentions when he updated his estate plan in December 2012, months after the birth of his daughter. But good intentions sometimes result in costly consequences, and this is no exception. Thanks to poor estate…
Medicaid: Mistake #5 – Failing to Take Advantage of Protections for the Healthy Spouse
When a loved one goes into a nursing home it can be a difficult transition for the whole family. This can be especially true for the “healthy spouse” who stays at home while his or her spouse is in a…