With every new change in presidential administration, there are certain to be ripple effects in national programs that reflect the new direction those programs are being geared toward. Often, there is a period of uncertainty connected to funding for many public programs, especially in times of financial crisis. One such…
Giving to charity is an important aspect of many estates. Those wishing to give gifts in a tax efficient manner should consider the positives and negatives of certain types of gifts. Many people who are wishing to help reduce estate taxes should consider spreading gifts throughout their lifetime. Lifetime Gifting…
Nearly 55% of American adults die without a will or estate planning documents. This lack of planning can cause years of stress and heartache for your surviving family members and heirs. If you die without an estate plan in place, your family may be subject to: Attorney expenses and court…
When a married person applies for Medicaid, the government looks at the collected, or, pooled, resources of the two to determine if one of the two spouses is eligible for Medicaid. If the combined income of the two spouses is above the income threshold set by law, the balance must…
Contrary to the European model, American parents are legally free to disinherit their children, but at the same time, they cannot simply forget or omit their children in their will by mistake. If the child is specifically addressed in the will and, at the same time, the will either fails…
ANCILLARY PROBATE It is not an uncommon scenario for a middle class family of even modest means to own a vacation home in another state. For those of us who love to ski, hike and explore, mother nature’s wonders on horseback, Vermont and Wyoming may be your choice. For…
VALUABLE ASSET A residential lease in New York City or any desirable locale can provide many benefits. Some people wait years to get into a rent stabilized apartment. There is even a Seinfeld episode where Elaine quips that some people scan the obituaries to see if someone in a…
WHY IT MATTERS FOR ESTATE PLANNING Every year the Federal Department of Treasury publishes the greenbook which outlines the then current presidential administration’s revenue proposals, tax policies, job creation issues that relate to the Department of Treasury and other related fiscal and policy issues. The greenbook is scrutinized by tax…
NEW YORK TRUSTS FOR PETS Some animals are undoubtedly beloved pets. They provide us with love and companionship, while there are other animals that are more than pets. For example, horses are an investment, they are a partner in exercise, they help some children with therapy and a comrade to…