Trying to care for an aged parent is a challenging and sometimes impossible-seeming task. Whether you live a few hours away from your parent or on the other side of the country, it’s common to end up whether you are providing your parents with adequate care. As a result,…
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New York Estate Planning & Elder Law Blog
2 New Tax Changes that Will Impact Your Estate Plan
With the implementation of the Biden administration in the country, various changes are likely to occur including several related to estate planning. One change involves a reduction in the estate tax exemption while a second revision to estate planning law is an elimination of the basis step-up for inherited property. …
4 Ways to Care for a Loved One in a Nursing Home
There are more than 40 million family members in the United States who act as caregivers for loved ones. There are also many ways to provide the requisite care for your aging loved one. If you recently placed a loved one in a nursing home, you’re likely still getting…
4 Critical Estate Planning Actions to Take While You’re Still Healthy
No one likes thinking about what will happen when their health begins to decline or what that person’s loved ones will do following their death. Failure to engage in adequate planning now can leave your loved ones in an undesirable situation and can also greatly increase the chances that these…
3 Facts about Navigating Elder Abuse during the Covid-19 Pandemic
The covid-19 pandemic has disrupted many aspects of our lives. One of the most overlooked aspects of how the pandemic has altered our lives is the pandemic has led to increased reports of elder abuse and mistreatment. Despite the Centers for Medicare & Medicaid Services’ guidelines to provide appropriate care,…
3 Facts about Estate Planning Challenges After Mayberry
In the 2020 case, In the Estate of Mayberry, a Texas court ruled that the common-law wife of a deceased individual who died interstate lacked standing to remove the deceased’s daughter as an independent administrator. The court’s ruling was based on the perspective that the deceased’s daughter was not…
3 Estate Planning Lessons from Prince
The estate planning dispute that occurred following Prince’s death in 2016 has arisen again after the Internal Revenue Service determined that Prince’s estate is worth approximately $163 million or twice what Prince’s estate representatives reported on his estate tax return. This difference resulted in approximately $39 million of penalties and…
4 Tips on Navigating a Loved One’s Dementia
Data compiled by the Centers for Disease Control and Prevention show that more than 16 million Americans care for someone who has been impacted by dementia. Caring for a person that you love who has dementia can require specific care techniques to make sure that the loved one functions in…
3 Details to Remember about Signing Estate Plans Remotely
The coronavirus pandemic has substantially altered the way that we engage in business. There are, however, ways to sign estate planning documents remotely without needing to be in close proximity to anyone. To better prepare you for navigating the estate planning process remotely, this article reviews some important details…
5 Tips on Navigating Elder Law – Estate Planning After a Divorce
Adequate estate planning is a critical part of the divorce process, but it is frequently overlooked because people are worried about navigating many other aspects of the divorce process. Careful attention should be paid to the complex issues that arise when handling estate plans where a divorce action is…