Owning a vacation home can be a dream come true. It offers a private getaway where cherished memories with family and friends can be made and a potential source of rental income. However, while the benefits are plentiful, significant complexities, especially in estate planning, can arise. Let’s explore the advantages of vacation home ownership and […]
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Yes, Estate Planning Is Important for Millennials
According to Caring.com, just about 25 percent of millennials have estate planning in place. You may say this makes perfect sense because millennials are between 28 and 43 years of age, and people simply do not pass away when they are this young. Indeed, the life expectancy in the United States is 78 years, and […]
What Is the 2024 New York Estate Tax Exclusion?
In this post, we are going to look at the 2024 New York state estate tax exclusion. But before we get there, we will provide some general information about taxes on inheritances to provide clarity. The Good News You may be surprised to hear that you do not have to report an inheritance that you […]
New York Medicaid for Senior Long-Term Care: Key Figures for 2024
The most pressing matter that elder law attorneys address is the senior long-term care situation. If you visit the website longtermcare.gov, you will see some eye-opening statistics that shed light on the subject. This site is maintained by the United States Department of Health and Human Services, and their research has found that seven out […]
Alzheimer’s Fuels Elder Law Concerns
As an elder law firm, we address challenges that confront senior citizens. When you look at the facts, you see that Alzheimer’s disease helps to fuel these challenges. Let’s examine the details. A Growing Threat Some aspects of this disease come as a surprise to many people. One of them is the fact that it […]
Decanting a Trust: A Solution for Trust Modification
In the realm of estate planning, trust decanting is a relatively new yet increasingly popular concept. It’s akin to pouring wine from an old bottle into a new one, hence the term “decanting.” This process involves transferring assets from an old trust into a new trust, often with different terms, providing flexibility in trust administration […]
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