Effective June 13, 2021, there will be a new short form power of attorney document available for your consideration. In the past many financial institutions did not accept the document because it did not “strictly“ comply with the statute. The new standard is “substantial” compliance, and the statute sets up A procedural mechanism and time [...]
During this public health crisis, there is no shortage of scams that are looking to feed off the rising fear and confusion surrounding the coronavirus. Many of these scams are aimed at senior citizens, who may not be as vigilant to online scam tactics. Seniors are at high risk of having more severe COVID-19 symptoms, [...]
Benjamin Franklin once said “in this world nothing can be said to be certain, except death and taxes.” In America, death certainly comes with plenty of taxes. While most people are certainly aware of what estate tax is, many people are often unaware that there is another form of tax on inheritance, known as the [...]
Despite the current pandemic, there have been significant changes in the law which could affect your estate plan. The SECURE ACT has dramatically changed how inherited IRAs must be distributed and has clearly limited categories of individuals who may be exempt from these changes. One of the provisions of the CARES ACT, which passed as [...]
The COVID-19 pandemic and New York on Pause Order issued by Governor Cuomo have brought to the forefront a lot of issues that many people have not considered. The Pause Order resulted in the closing of the Courts in New York State with these Courts handling matters virtually and employees working remotely. At this time, [...]
The 2020/2021 New York State Budget has been approved by the legislature and signed into law by the Governor. It provides for significant changes in the Medicaid rules which we have seen in 14 years. Spousal Refusal One important aspect of this budget is that spousal refusal has survived, and the Spousal Impoverishment Resource Allowance [...]
The coronavirus outbreak has many people clamoring for hand sanitizer and toilet paper; many elderly individuals in our community may be more at risk for infection. When caring for your elderly family member it is important to understand the risk that the novel COVID-19 virus poses towards them. Higher Risk for Symptoms As with many [...]
Armstrong & Lamberti, PLLC specializes in a wide array of practice areas, many of which take place within Surrogate’s Court. Surrogate’s Court is a specialized court in the court system that oversees wills and assets of deceased persons. But what does this mean for you? What is Surrogate’s Court Used For? In New York, Surrogate’s [...]
Senior citizens have overcome a lot of risks in life to reach an advanced age. But the biggest risk seniors face is a lack of quality long-term care. Every year, thousands of elderly individuals suffer because they failed to plan for long-term care, even though most will need it. Long-term care can include nursing homes, [...]
Most people have heard of the term “Power of Attorney” used in courtroom dramas, but aren’t fully aware of what the phrase means. Power of Attorney is a legal device used to grant and recognize the authority of another individual in the stead of another. What is a Power of Attorney Used For? The Agent, [...]
