When you go to the doctor, you expect to be asked invasive questions. When you go see an estate planning attorney, however, you may not be expecting the same level of personal inquiries. After all, an attorney is not taking…
Why we recommend the Peace of Mind Program to all our clients: The Peace of Mind Program [POM] is an ongoing maintenance program that provides a cost-effective way to ensure your plan is up to date and meets your goals…
Determining who you should select to serve as the Executor of your estate can often be a difficult decision. It is important to understand the duties and responsibilities of an Executor before you make your final decision. Here are some…
John Smith, who has dementia, need nursing home care at $160,000 per year. His two children, Chris and Danielle, have no access to his bank checking account and his other assets because there is no Durable power of attorney in…
In making the decision to meet with an estate planning attorney to create a Last Will and Testament, you will need to decide who to nominate as your Executor. Among other responsibilities, your Executor is the person that will be…
What is the IRA Charitable Rollover and how does it work? The Individual Retirement Account (“IRA”) Charitable Rollover is a “Qualified Charitable Distribution” which allows the IRA owner, who is 70 ½ or older, to make tax free gifts of…
In New York State, in order to contest a person’s Last Will and Testament, the challenger must have the right to do so. This right is known as “standing”. A challenger has standing under the following circumstances: When he or…
A homestead is defined by Medicaid as the primary residence occupied by the applicant, the applicant's spouse, or the applicant's minor, disabled or blind child. A homestead is exempt for purposes of Medicaid eligibility under certain circumstances. The law limits…
You love your pet and want to make sure that he will be taken care of after you pass away. After reaching that decision, most people are still unsure of what arrangements need to be made.
A pet trust is a legal agreement to provide for the care of one or more pets in the event that the pet owner dies or becomes unable to care for them. New York State gives statutory authority for the benefit of pets under Estates, Powers, and Trusts Law, Chapter 17-B.
The mortgage interest deduction allows taxpayers who own their homes to reduce their taxable income by the amount of interest paid on a loan that is secured by their principal residence or secondary residence. Starting in 2018 the Mortgage Interest…