The federal estate tax is a tax that is placed on a person’s estate after death. While many people are familiar with this general concept, they have a number of more specific questions about what the federal estate tax does and does not include. For one, many people…
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New York Estate Planning & Elder Law Blog
Preventing Deed Fraud and Mortgage Scams
New York Governor Andrew Cuomo signed a group of bills intended to increase consumer homeowner protections. By press release, the Governor’s office announced three important improvements in an effort to strengthen homeowner safeguards and close loopholes to prevent deed fraud and mortgage scams. Unbeknownst to the homeowner, deed fraud…
Divorce and Estate Planning: Advice to Follow
It’s a tale as old as time. A couple is married for several years and during that time, the couple successfully grows a small business into a million dollar one. The couple’s marriage ultimately does not last and they divorce. Because the couple is still young, they do not have…
Lessons Learned from Northport Health Services v. Posey
The Eighth Circuit Court of Appeals in Northport Health Services v. Posey recently reversed a lower court’s decision to grant summary judgment in a wrongful death action. One son in the Posey family in this case had signed the admission agreement of his brother at a resident rehabilitation center owned…
A Quick Guide to Revocable Trusts
Estate planning is a difficult activity, but it’s a necessary one. Many people, however, that estate planning is only necessary for the richest of the rich. In reality, most people can benefit from some form of estate planning. There are a number of different options when a person begins…
How to Retain Control over Medical Decisions if You Become Incapacitated
One of the great challenges of estate planning is that most of the decisions made will be carried out after a person is no longer alive. For some people, this means that they need not worry about estate planning because they will not be around to see how it…
Estate Planning Advice for Remarried Individuals
No matter if you are in a second or subsequent marriage, individuals who have been previously married often face a number of unique issues that influence the estate planning process. As a result, it is critical to take these factors into consideration when performing estate planning. By following these…
Deciding what State Law Should Apply to Your Trust
There are a number of complex issues involving the creation and administration of a trust. One of these issues involves which state’s laws should apply to the trust’s administration. The best estate planning lawyers often discuss with clients the differences between available estate laws so the best possible results…
Is Aging in Place the Best Option for You?
Transitioning to a nursing home or assisted living facility is a difficult period for most adults. A recent study conducted by AARP even reported that 9 out of 10 Americans prefer living in their own homes as long as possible rather than switching to a nursing home. The concept…
Affording Long Term Health Care
Millions of people find themselves in a middle class bind as they enter the midpoint of their retirement period. A good eight (8) to ten (10) years into retirement, many individuals are able to physically continue to live in their home and afford the upkeep and maintenance of their home…