Special Needs Trusts vs. ABLE Accounts: Which One Is Right for Your Family?
Planning for a loved one with a disability means finding ways to provide financial support while protecting access to government benefits. The right approach allows them to maintain independence and security without jeopardizing programs like Medicaid or Supplemental Security Income (SSI). Some families choose to set aside funds through a special needs...
Special Needs Trusts vs. ABLE Accounts: Which One Is Right for Your Family? Continue reading…
Will vs. Trust: What Is the Best Option for Protecting Your Estate?
Planning for the future means making sure your assets go to the right people without unnecessary complications. A clear estate plan helps prevent confusion and ensures your wishes are carried out. Many people assume a will is enough, while others prefer a trust for added protection. Each option offers different benefits, and...
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Why You Need an Elder Law Attorney in New York: 10 Crucial Reasons
As our population ages, the need for specialized legal assistance becomes increasingly apparent. In New York, where the cost of care and complex laws can be overwhelming, an elder law attorney can be an invaluable asset. Here are ten compelling reasons why you or your loved ones might need an elder law...
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Your Right to an Elective Share: A Guide for Disinherited Spouses in New York
In New York State, if a surviving spouse is "disinherited" (i.e., not provided for in a decedent’s will), they have the option to claim an elective share of the decedent's estate. This legal right allows a spouse to receive a portion of the estate, even if the decedent's will does not provide for them....
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Countdown to 2025: 6 Year-End Gift, Estate and Financial Strategies
As we approach the end of 2024, it's crucial to review your estate and tax planning strategies to ensure you're maximizing your financial benefits. Here are some key areas to focus on:
1. Health Savings Account (HSA)
If eligible, maximize contributions...
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Skip the Politics, Save the Legacy: Your Thanksgiving Conversation Guide with Aging Parents
Turkey? Check. Pumpkin pie? Check. A plan for your family's future? Let's work on that!
This Thanksgiving, why not serve up something more substantial than cranberry sauce? We've prepared an easy to use guide to help you navigate those tricky estate planning conversations with your aging...
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Wishing you a wonderful end of summer
Dear Clients and Friends
PLANNING FOR THE FALL. As we savor the last days of summer and look forward to the cooler days of fall, it's the perfect time to explore the city and enjoy all that the season has to offer. Whether you're planning to catch a
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Debunking Guardianship Myths in New York: Protecting Your Loved Ones with Facts
In the realm of elder care, special needs planning and legal decision-making, guardianship is a topic often clouded by misconceptions and misunderstandings. For families navigating the complexities of guardianship in New York, separating fact from fiction is crucial to ensuring the well-being and protection of their loved ones. Here, we'll discuss some...
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The Trust Conundrum: Exploring Revocable vs. Irrevocable Trusts
This guide explores the differences between revocable and irrevocable trusts under New York State law.
Whether you need one or both depends on your unique circumstances.
Understanding Revocable Trusts
Think of a revocable trust as a flexible tool in estate planning,...
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Jointly Owned Assets: Are You Gambling with Your Legacy?
In New York, many married couples share ownership of assets like real estate, bank accounts, and investments. While this setup offers convenience and shared control, it can also introduce risks that might affect long-term wealth. This blog explores the question: Are you risking your legacy by choosing joint ownership? Let's look at...
Jointly Owned Assets: Are You Gambling with Your Legacy? Continue reading…