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 [...]
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, [...]
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, [...]
Recently, the Social Security Administration has announced a 2.8 percent increase in benefits in 2019. This increase is the largest yearly boost since 2012. The change will give an extra $468 annually to the average retired beneficiary. With the costs of living, as well as the costs of medical care, rising, this increase can help [...]
Surrogate's Court is a special type of court where proceedings are focused around the estate of a deceased individual. It is up to the Surrogate's Court to ensure that the deceased’s creditors are paid and that the remainder of the individual’s estate is distributed either pursuant to the term of the deceased party's Last Will [...]
Many movies show a character trying to receive a trust or an inheritance by achieving a specific goal set by the deceased. In movies it is often to get married or finish college. Trusts like these are actually real and not just something Hollywood came up with. In reality, you can set Incentive Trusts for [...]
Some people think it is morbid to write up a Will; however, it is too important to avoid having one, especially if you are a parent. You should update your Will after major life changes such as marriage or the birth of a child. As a parent, a Will is the best way to ensure [...]
Living Wills are supposed to protect our wishes in the event that you are unable to respond or react in a health emergency. Unfortunately, that may not be enough in an ER situation, if the nurses and doctors are unaware of the laws. When is a Living Will in Effect? A Living Will is a [...]
About one in four new marriages in New York City is a same sex marriage. Under the Marriage Equality Act, gay and lesbian couples can benefit from a variety of different estate plans. Inheritance, Retirement, Trusts, Medicaid coverage and more can be afforded to your spouse now that these laws are in place. There are [...]
