How to make a statement after you are dead
Most people want to leave a legacy. Yet most people also have no idea how to go about doing it. One simple way is through a life insurance policy. Help your immediate family. If you have a family who relies on your income, having a life insurance policy is an absolute must. There...
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Planning for a Pet
Animals shelters often see beloved pets suddenly homeless because of the death of their owners and failure to plan properly. And while there may be more people willing to rescue a dog, but what about a horse or a lizard? One way of planning properly for the care of a pet is to leave...
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Can Medicaid place a lien against the apartment?
Recently someone asked me a question: if an co-op apt. is owned jointly by spouses with right of survivorship, can Medicaid enforce a lien against the estate or the decedent's interest in the co-op when the joint owner who was a Medicaid recipient dies? There is a prohibition against placing a lien on the...
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Estate Planning Tips for same-sex couples
In the United States v. Windsor, the Supreme Court rules that federal government must recognize same-sex marriages legally performed in a state for federal law purposes. Below are some tips in an estate planning concept: Boomerang assets. Lots of same-sex couples do not have children. While the couple may...
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Some Legal Trivia
Did you know? Code of Hammurabi (around 1792 BCE) is one of the oldest and most complete written collections of law. Hammurabi was the soxth king of Babylon. The prologue to the Code expresses its purpose: “that the strong might not oppress the weak, that justice be given to orphan and widow” Code...
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Some Legal Trivia…
Did you know? The Code of Ur-Nammu, written around 2100 BCE, is the oldest found legislative code. It later influenced the code of Hammurabi. It’s the first time when a schedule of predetermined consequences for violating rules of conduct was written. Most penalties were monetary: 15 shekels for perjury, 5 shekels for deflowering...
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Imagine your family at peace: How to Have Crucial Conversations with Your Loved Ones about End-of-Life issues
Talking about end of life issues with a loved one who is already sick is difficult. Your loved one may not be thinking clearly, may be in pain, and everyone is likely to be very emotional. That’s why it’s important to have this conversation early, while everyone is thinking clearly. A plan is...
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Are you at risk of getting sued, if you agree to act as a Fiduciary (Executors, Trustees and Agents under Power of Attorney)?
Trust and estate litigation is on the rise. The conflict can arise due to beneficiaries who feel they were entitled to more money or Trustees, who are supposed to act as fiduciaries with care, loyalty and impartiality, but often don’t. Unfortunately, you cannot plan for every contingency. You hope that the Trustee that...
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Will the 1031 “Like-Kind” Exchange be now eliminated?
Section 1031 of the tax code allows those who sell a real estate property and invest the proceeds in a different real estate property to postpone capital gains taxes. It is a great strategy for investors: with a 1031 exchange, after a sale of a property you can use 100% of the proceeds...
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