Blog & Resources
After years in other fields, including tax , corporate finance and employee benefits, I felt I could make the biggest impact on individuals by providing personal service, one client at a time. With years of background in taxes and employee benefits, I have unique expertise in estate planning, taxes, probate, business matters, and other asset planning services.
6 Other Year-End Tax Law Changes to Be Aware Of
No age cap on traditional IRA’s, penalty for failing to file tax return, and more!
Year-End Tax Law Changes
For retirement plan benefits inherited after 2019, a new tax law called the “SECURE ACT” makes major changes to rules concerning post-death payments from qualified retirement accounts like IRAs and 401(k) plans.
A Quick Guide to Non-Compete Agreements in New York
In today’s competitive job market, many employers require employees to sign a non-compete agreement or include non-compete provisions in employment agreements as a condition of employment.
Planning for Medicaid/Preserving Family Assets
A trust is a separate legal entity whose “rules of the road” are governed by a trust document or trust agreement. A trust is managed by a trustee, who can be a family member or an independent person or financial institution.
Estate Planning: What You Need to Know About Medicaid
When someone needs nursing home care or has extensive medical expenses that he/she cannot afford, Medicaid may provide benefits/services not covered by Medicare. Medicaid is a joint federal-state program. Each state has its own Medicaid rules that operate within the federal guidelines.
New York State Increases DIY Probate for Estates up to $50,000
Do You Need a Trust Attorney? Estate planning is an important part of getting your affairs in order. During the estate planning process, you’ll need to decide if you want a will or trust. Look at some reasons why you might need a living trust. Then, you can hire a...
Planning for Gifts and Large Estates
Planning for Gifts and Large Estates As you may be aware, the 2017 Tax Act doubled the estate tax exemption to over $10 million for years 2018 through 2025. With inflation adjustments, that amount is set to increase to $11.58 million per person in 2020, up from $11.4...
IRA Contribution Limit for 2019
In November each year, the IRS announces how much we can contribute to an IRA. This year, the contribution limit for both regular and Roth IRAs, remains at $6000 ($7000 if you’re age 50 or older). Traditional IRA contributions are deductible and Roth contributions are not.
Trust and Estate Litigation
You know estate planning is a critical part of taking care of your loved ones after you pass. You also know that trying to handle estate planning on your own is a huge mistake. Therefore, you need to find a trust and estate litigation attorney who will work in your best interests. Finding a trust and estate litigation attorney in Briarcliff Manor isn’t very difficult when you follow some tips.
Estate Planning Tips for Snowbirds
For many New Yorkers, what starts out as a seasonal home morphs into a primary residence. Aside from the weather, Florida attracts new residents because it has a property tax increase cap on homes that are primary residences and no state income tax. New York State income tax presently graduates from 4% to roughly 8.82% on amounts above $2 million.
Why You Must Have a Will!
You absolutely need a will if you want to provide for your significant other, best friend or favorite aunt. Otherwise, they will only inherit if they are named as an account beneficiary. Without a will, your closest family members will inherit. People balk at going to a lawyer to tend to this because it brings up a time of life we don’t want to think.
Using Living Trusts As A Will Substitute
Instead of leaving property to a loved one under a will, clients often create a “living trust” to get the job done. With a living trust, it is easier to change beneficiaries, as well as who gets what when you pass away. Changes to a living trust can be made more easily than changes to a will.
Estate Planning for Your Home and Your IRAs
For many clients today, their homes and IRAs represent their biggest assets. And both require special care and handling when leaving them to loved ones as part of an estate. Real estate passes per title on a deed and IRA assets pass to those designated in a beneficiary designation form. These assets only pass under a will if there is no joint name on a deed and no beneficiary designation form for an IRA.
Probate Vs. Non-Probate Assets
Probate is the process of having a court determine if a will is properly executed so that estate administration can get underway. As part of the process, a fee is paid to the county and notification is given to creditors, heirs, and beneficiaries. What most people don’t know though, is that the only assets which pass under your will, are those in your name alone. Assets which pass under your will are known as “probate” assets.
What Happens if You Die Without a Will?
When you ask what will happen when you die, it’s not just an existential question. You want to know what will happen if you die without a will. There’s a myth that the government will take your assets, but that’s not true. Instead, your assets will be distributed to your heirs based on the laws of intestacy. To put it simply, your relatives will inherit your assets if you don’t get help from a will attorney.
Will the GOP’s Tax Plan Affect You?
Typically, I don’t write about tax bills because they may never become law. Congress’ latest plan for tax reform stands out, though, because it proposes to change many longstanding tax rules. But a lot of horse-trading goes on before final laws are enacted, and that’s already started.
Understanding Probate: And How to Avoid It
Here is some more information about probate: Understanding Probate What is Probate? Probate is the legal process of petitioning the court to declare that a will is valid and appointing an executor to oversee the estate. The executor is the person chosen to carry out...
Title, Not Possession, Is 9/10ths of the Law
But when it comes to “legal” ownership of property and assets, the law often spells out who owns what. It’s important to follow the rules to protect your rights, because for many things, possession isn’t 9/10ths of the law. Let’s look at some common examples: JOINTLY...
Digital Assets in Your Estate Plan
As more and more people migrate their banking, purchases and private activities online, we become ripe for the taking by the unscrupulous. How can this impact my mother? Well let’s just follow yesterday’s headlines. Over 6 million linked in passwords were posted...
Planning for Highly Appreciated Assets
When you acquire property (real estate, investments, etc.), what you pay for property you acquire is known as your “cost basis” or investment in the property. It is this number that becomes important when you determine the tax on any gain, when the property is sold....
Our Services
After years in other fields, including tax , corporate finance and employee benefits, I felt I could make the biggest impact on individuals by providing personal service, one client at a time. With years of background in taxes and employee benefits, I have unique expertise in estate planning, taxes, probate, business matters, and other asset planning services.
Estate Planning
If you’re shepherding a parent through the next stages of life, or concerned about elder law, we can take care of you. If you’re considering creating a trust, doing tax planning, or re-titling deeds, you can contact us and put your mind at ease.
Medicaid
Many folks learn about Medicaid only when they realize they no longer have the funds to care for themselves or a loved one. We assist clients navigate the particulars of Medicaid, and how they can manage and protect their assets.
Probate
When a person passes away, a lawyer is often called in to handle the paperwork involved with settling an estate’s assets. If you’re facing probate for the estate of a friend or loved one, we can help you through the process.
Business Matters
If you’re forming a new business, or need assistance with your current businesses’ operations, we can help. We can assist with business agreements, contracts, legal documents, equipment leasing, corporate documents, equity documents, and more.
