When is a gift not a gift?
As a planner, I sometimes hear things like: “I thought I could give my kids $10,000” “I’ll just sell my house to my children for $1” “Can I pay my grandson’s college tuition and not have to worry about Medicaid?…
Can I Revoke My Irrevocable Trust?
When it comes to protecting your assets from the costs of a long-term illness, such as a nursing home, the Medicaid Asset Protection Trust is a staple planning technique. It is an effective way to protect your home (and other…
Why College Students Need Estate Planning
I have a client who several years ago got one of those phone calls no parent ever wants to get. Her daughter, Susie, was a freshman at a college in upstate New York after having graduated in the top 10%…
How Much Is The Federal Estate And Gift Tax Exclusion Under The New Tax Law?
The new federal tax law entitled, “An Act To provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018,” which is commonly referred to as the Tax Cuts and Jobs…
What Happens If The Executor In My Will Dies First?
If the nominated Executor in your Last Will and Testament dies, then you should meet with an experienced estate planning attorney to review and possibly update your will to account for the loss. If you do not update your Will,…
¿Qué es un "Grantor Trust"?
In the simplest terms, a Grantor Trust is a trust that authorizes a grantor (the person who set up the trust) to retain certain powers with respect to the property transferred to the trust and the trust administration. These powers…
Maximizing Your VA Benefits: What the New Rules Mean for You
Effective as of Octubre 18, 2018, the Veteran’s Administration (VA) will be implementing significant comprehensive changes to the pension benefit rules. These rules were actually published back on Enero 2015 but have not been implemented until now. Some background first. …
Have you received your new Medicare Card yet?
Medicare recipients who reside in New York should keep an eye out for their new Medicare card. In an effort to prevent fraud, and fight identity theft, the federal government is issuing new Medicare cards to all Medicare beneficiaries that…
Why Your Life Insurance Mayo Expire Before You!
While there may be many reasons not to take a look at your life Insurance portfolio; you don’t really like thinking about life Insurance, you don’t understand it, you don’t want to sit down with a life Insurance salesperson that’s…
Four Steps to Help Avoid Intra-Family Conflict After Passing
Relationships are complicated. Familial relationships can be more so complicated than any other relationship. Conflicts can arise between spouses, siblings, generations, and in-laws. Intra-family conflicts can occur where a family member is favored over others or is perceived to be…