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The Treasury Department recently published its Priority Guidance Plan, which addresses areas like estate, trusts, and gifts. These items were described as a top priority by the department. The department also expressed the desire to establish final regulations that would enforce user fees associated with closing letters for estate tax…
If you receive an inheritance but are also married, the person who passed on an inheritance to you likely intended only to benefit from these funds. If you end up getting divorced, you’re probably left wondering how you can guard the inheritance. Most assets gained by a couple during a…
Frustration is growing for medical professionals including those who work at hospices as they wait for President Biden to reveal details about how federal regulations for COVID-19 will be enforced. This frustration is in part driven by uncertainty about aspects like permissible exemptions, testing costs, and the number of…
Family law addresses the rights of family members including spouses during marriages as well as after divorce. When one spouse passes away, however, complex estate planning issues can arise. In the recent Third District case of In Estate of Wall, a federal district court held that title presumption had…
Many people write off falls as a normal danger associated with the aging process. In reality, this could not be any further from the truth. While September was Fall Prevention Month, it’s important for the elderly and their loved ones to remain up to date about the various dangers associated…
Estate planning conversations often give off the impression that everyone is elderly and has multiple children. In reality, however, this is not true and people who do not fit this description require estate planning assistance at least as much as people who fall into more conventional models. For example, unmarried…
In 1990, the United States Supreme Court acknowledged the constitutional right of a patient to decline medical treatment. Over the last couple of decades, New York state has slowly recognized that traditional health care advance directives do not sufficiently deal with mental health issues. Consequently, a large number of states…
After a divorce, it’s understandable that you’re tired of sifting through legal documents. If you do not take the actions now to revise your estate plan in light of your divorce, you could end up facing undesirable estate planning results. As a result, you should at least consider gathering your…
The rise in the number of divorcees in New York as well as the rest of the country has led to a larger amount of blended families. While similar in many ways to traditional families, blended families face some unique estate planning challenges. This article reviews some of the most…
Planning for your children’s educational needs is a worthwhile goal. Fortunately, various options exist for satisfying this goal. A 529 plan can prove to be a powerful tool for paying tuition as well as paying for other education-related expenses while realizing tax advantages. Following your death, however, no certainty…