The Centers for Disease Control (CDC) recently put the country on alert, warning that this year’s flu season and the H3N2 virus could be one of the worst in recent years as hospitals experience record setting hospitalization rates. Physicians for the CDC warned Americans over the age of 65-years old…
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New York Estate Planning & Elder Law Blog
The Importance of Domicile on Estate Planning: Avoiding Double Taxation
Unfortunately, the old adage that death and taxes are unavoidable is true. Unfortunately, they are also both closely related. For individuals with estates that are subject to a federal and/or a state-level estate tax, there exists the possibility of being double taxed if you maintain a residence in more than…
Financial Risks to Your Estate
With all of the discussion surrounding repealing the estate tax and other significant tax reforms, it can be difficult to understand exactly how these proposed changes might affect your estate. For most people in the United States, the estate tax is not a concern. That is because you need an…
Estate Planning Is for Everyone
It is a common misconception that estate planning is only a concern for those individuals with sizeable estates. This is simply not true. Everyone can benefit from comprehensive estate planning, even individuals with average or small estates. A recent article from CNBC reminds us of the importance of having a…
Estate Planning and Funeral Arrangements
Regardless of the size of your estate, comprehensive estate planning can help you make the most of the assets you have worked hard to build. It is important to make sure that you take a thorough approach to estate planning in order to preserve as many assets as possible, and…
Debt and Estate Planning
Debt is an all-too-common part of our everyday life. In fact, Marketwatch.com lists American personal debt – including homes, student loans, and auto loans – at approximately two billion dollars. This figure does not include credit card debt. However, as daunting as debt may seem, making sure to consider your…
Federal officials study how to cut drug prices for Medicare patients
In the wake of rising drug prices over years for Medicare patients, federal officials appear ready to finally take some kind of action to help with out of pocket costs many seniors and disabled persons struggle with. Recently, federal officials have begun to explore the possibility of achieving lower drug…
Exploring Medicaid Trusts
Long-term medical care is expensive, and there is no indication that trend will reverse itself anytime soon. That means you need to be proactive in considering the implications of long-term medical care costs when approaching comprehensive estate planning. Many people find themselves falling short of the funds needed to pay…
AARP filing lawsuits to stop illegal nursing home evictions
Lawyers for AARP recently took the unprecedented step of filing a lawsuit against a California nursing home chain claiming the defendant violates the civil rights of patients by evicting them without due cause. The group filed their suit on behalf of an 83-year old woman with alzheimers who became separated…
CBO: GOP tax bill would strip $25 billion from Medicare funding
According to the Congressional Budget Office (CBO), the proposed GOP tax bill would strip an estimated $136 billion from mandatory spending in 2018, including $25 billion in Medicare cuts if Congress does not find away to offset the cuts. Under the so-called pay-go law, Medicare can only be cut a…