Why Estate Planning is Essential: Avoid Costly Mistakes
“My mother has too much money, so I guess she has to pay privately for her home care”, Mary told me recently. As an Elder Law Attorney for over 17 years, I can tell you that I hear this almost…
Real Estate Ownership and Transfer
So you own your home and you think that it will be transferred to your family upon your passing without going to court. But is that really the case? What does all of this mean? A house that is owned…
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…
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,…
What is a “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…
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…
Should Tom Hanks be my Health Care Proxy?
As Elder Law attorneys we are keenly aware of the many serious issues that impact the senior citizen population. We take great pride in being advocates for our senior clients and strive to educate our clients and the general population…
While Your Family is Together for the Holidays, Why Not Discuss Your Estate Planning Goals?
Getting the whole family to come together in one room is not an easy feat. That is why many people choose to discuss important issues, such as their estate planning goals with their families during the holiday season. We always…