When Stephen Sondheim recently passed away, he passed on all rights associated with his theatrical work including several well-known musicals including several unfinished pieces to a trust, which will be tasked with managing his estate. The Sondheim trust now will assess the future of the well-known artist’s intellectual works in…
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New York Estate Planning & Elder Law Blog
Diversifying Your Assets After Years of Employment
For many corporate executives who are considering retiring, substantial financial planning must be done. Given the executives are often some of the best-compensated workers, this advice might seem unnecessary. Additionally, increasing stock prices over the last few years, as well as a healthy economy, means that many executives are better…
Avoiding Surprise Bill and Complications with a Recent Regulation
People are fortunately now not obligated to cover care received that was not part of the network if the care was given without that person’s consent. This is the result of a healthcare law that became effective at the beginning of 2020 and could lead to fewer insurance payment issues…
State-Run ACA Exchanges Create Alternative Plans
In 2020, President Biden and his administration as well as states throughout the country recently celebrated unprecedented gains in enrollment for the Affordable Care Act. Meanwhile, state-operated exchanges are striving to create alternative plans addressing outreach in the event that Congress fails to extend the Act beyond 2022. A substantial…
Economy’s Condition Thrives Off Obamacare
The states currently resisting Medicare are currently falling behind in job-market strength as well as the growth of income. Meanwhile, even the states that later signed up for Obamacare are witnessing more prosperous economies. Obamacare created a substantial debate in the country before it was passed into law. One question…
Minimum Nursing Home Requirements Become Effective in New York
The Governor of New York recently removed a three-month prohibition on a new regulation requiring nursing homes to satisfy minimum staffing requirements to provide patient care. Supporters of the regulation, which establishes minimum staffing ratios and requires that nursing home residents receive at least 3.5 hours a day of direct…
Taking the Time to Begin (And Complete) Your Estate Plan
One unanticipated effect of the Covid-19 pandemic is it made many people realize that time is short. If you delay doing something too long, the risk exists that you might never have the chance to do it. Many people are following this advice when it comes to things like changing…
Navigating Challenges Associated with Death Taxes
Since 2021, many conversations have been had about the Build Back Better Act, which saw several substantial tax increases. While some people have described the Act as dead, the future of the act remains uncertain. Despite what happens to the act, its contents are subjects to which Congress is likely…
Advice on Reviewing Family Legacy Plans
Passing assets through generations can be a nuanced process. Assets are routinely an emotionally difficult issue, and a loved one’s plans for transferring assets can trigger various reactions from those left behind. Data shows that by at least 2045, almost $75 trillion in assets will be transferred to heirs while…
Advice on Succession Planning in 2022
The stock market over the last ten years has increased the valuation of many retirement accounts. Consequently, many people interested in estate planning are focused less on internal growth necessary for succession planning than at other times. Inflation is much like gravity. Both rise and fall. With inflation occurring at…