A living will is a document that sets forth your wishes concerning the extent of medical care you want to receive. It operates during your lifetime if you become unable to communicate your wishes at the time a healthcare decision must be made. For example, many people direct that if they are in a permanent… Read More »
Blog Posts
Which Type of Guardianship is Appropriate for My Situation?
In New York, there are only two guardianship proceedings for adults, namely Surrogate’s Court Procedure Act (SCPA) Article 17-A guardianship, and Mental Hygiene Law (MHL) Article 81 guardianship. Although the basic premise for these two guardianship proceedings is the same – based upon the proper findings the court will appoint a guardian to care for… Read More »
IRS and Department of Treasury to Withdraw Regulations Restricting Tax and Estate Planning Options
On October 4, 2017, the U.S. Department of the Treasury announced that it is recommending the complete withdrawal of the proposed regulations under Section 2704 of the Internal Revenue Code, which would have placed restrictions on liquidation of an interest for Estate, Gift and Generation-Skipping Transfer Taxes had they been adopted. These regulations, which were… Read More »
Key Factors to Consider When Creating a Special Needs Trust
Every trust is comprised of an agreement between two people – a grantor who is donating funds to the trust, and a trustee who manages the donated funds as outlined by the grantor in the trust document. The funds in a trust are typically used to assist the trust beneficiary. This beneficiary is usually either… Read More »
Trump Tax Reform Plan: How Will You Be Affected?
On September 27, 2017, President Trump’s Administration released its “Tax Reform Plan.” In addition to consolidating tax brackets from seven to three (12%, 25%, and 35% with income ranges to be provided later), President Trump’s new plan has addressed eliminating certain state and local tax deductions heavily utilized by New York and New Jersey residents… Read More »
Announcing our 2017 “Super Lawyers”
Three of our partners, Vincent J. Russo , Marie Elena Puma and Frank L. Buquicchio have once again been named “Super Lawyers” on the “New York Metro Super Lawyers” list. This is Vincent’s 11th year being recognized as a Super Lawyer, Marie Elena’s 2nd year and Frank’s 4th year receiving this honor, needless to say we are excited to share… Read More »
How Can a Donor-Advised Fund Help me Plan for Retirement?
When helping our clients plan for retirement, many express their interest to set aside money for charity. Some clients have a specific charity in mind, while others simply want to set aside an amount to be given to a charity at a later date. A donor-advised fund, or DAF, is a perfect vehicle for charitable… Read More »
Stage Left: Everything the New York Performing Arts-Goer Needs to Know
New York is credited as being “The City that Never Sleeps”. With all the places to sightsee, Broadway shows to watch and museums to visit, it is easy to see why. For those particularly searching for happenings in the arts, whether a veteran performing arts-goer, or just in town for a short amount of time,… Read More »
How to Avoid Probate and Protect Your Assets
Often times when clients make an appointment with our law firm, they have a very specific estate planning concern or issue. They may have a particular focus in mind, such as updating a will or avoiding probate. With a plethora of details to consider, it is often challenging for individuals to adequately address all aspects of their… Read More »
On Air with Vincent J. Russo
Yesterday, September 12, 2017, Vincent J. Russo joined Hilary Topper on her talk show, Hilary Topper on Air. During this podcast, Vincent shared with listeners his reason for becoming an advocate for seniors and people with special needs, the inspiration for co-creating the Trump Policy Analysis Group (TPAG), and touched on some speculated reforms such… Read More »
Exception to the Medicaid Penalty: Gifting to a Loved One in Need
It is generally known that if you make a gift to your child (or pretty much anyone, with a few exceptions) and then need to go into a nursing home within five years, Medicaid will penalize you for the gift. The general rule is that if you (or your spouse) need nursing home care within… Read More »
A Tribute to American Hero, Welles Remy Crowther
On September 11, 2001, terrorists flew two planes into the World Trade Center. All eyes turned to New York City as the buildings burned and then fell. On that horrifying day, some people were saved by the heroic efforts of others whom we refer to as heroes. Welles Remy Crowther was one of those heroes…. Read More »
3 Reasons to Avoid Probate
When a person dies, his or her estate may need to go through probate. If the decedent leaves a will directing how his or her property should be distributed after death, the will must be submitted to the probate court so that it can be approved as a valid document. During this process, all of the… Read More »
Caution: Crowdfunding Accounts Can Be Detrimental for Someone on Medicaid and SSI
Over the past couple of years, when on social media, I have seen more and more crowdfunding and personal fundraising efforts. Crowdfunding sites such as GoFundMe and Kickstarter cut out the middleman of fundraising, allowing the person or organization in need to appeal directly to the general public. In many cases, crowdfunding takes place when… Read More »
5 Tips to Avoid Caregiver Burnout
Caring for a loved one with a long-term illness, such as dementia can be very rewarding. It also requires a lot of hard work and can take a toll on you physically, financially and/or emotionally. When caring for a loved one, no matter how much you love and care for that person, you may begin… Read More »