Videos

If you are married? If the check was for your parent? If the check was for your child? A. The stimulus payment was issued based on an individual's 2018 or 2019 Income Tax Returns. This has resulted in payment to individuals who passed away after the return(s) were filed. It was initially thought that the […]

Our firm receives a lot of inquiries about the qualification process for Medicaid if there is ever a need. In particular, many clients look to downsize their residence and move to the suburbs later in life. They are concerned about how to protect the equity they’ve built in their previous home. Medicaid Planning Common questions […]

We have seen many clients selling houses within certain areas of New York who have benefited from increased real estate growth and value. In such areas, when the asset gains value, or the neighborhood has developed, many owners decide to downsize — perhaps moving to the suburbs, a condo, or a co-op. The most common […]

This case demonstrates the consequences of not having a carefully drafted Last Will and Testament. Best. Tipper. Ever. An unmarried, childless Manhattan man left his $4.2 million fortune to the building workers of his longtime Sutton Place home in a handwritten will — but the bachelor’s nephew is fighting them in court to claim the […]

Have you ever asked yourself: Do I need a will? Pop culture’s portrayal of a will execution and the probate process has resulted in many misconceptions including but not limited to: • All assets will automatically go the surviving spouse; and • The state will take money from the estate if there is no will.

Trusts are valuable tools in estate planning, but they are often misunderstood. That might be because there are two different types of Trusts: revocable and irrevocable.

Often we are contacted by individuals who want to set up a trust; they come to us convinced that they need a trust because of something they heard on tv or saw online. Usually, these individuals are misinformed about the absolute necessity of a trust, and they are not aware of other less expensive options […]

Gifting & Transferring Assets Outright or to a Trust? New York If you are considering gifting or transferring assets, there are distinct differences between an outright transfer and a transfer into a trust that is important to understand.  1. When prepared correctly, a transfer to a trust provides: •Asset protection; and •A step up in tax […]

There are many benefits to Medicaid Assistance, including the ability for seniors to age at home and receive care from a family member in a familiar environment. However, in order to qualify for Medical Assistance for Home Care Services/Community Medicaid (Medicaid), an individual’s assets cannot exceed $15,150.00—this is the combined total of all assets in […]