Websites and publications geared towards those contemplating retirement ply their readers with articles on the “do’s and dont’s” of retirement planning. Even so, trying to formulate the right retirement strategy can be mind-boggling! Here are some common retirement planning myths: “As I near retirement, investments should be more conservative.” Americans are living longer. In fact,...
Pets are frequently overlooked in the aftermath of an accident or death. Sometimes pets are only discovered days after a tragedy. Many of our clients and friends have never considered what would happen to their pets if something unexpected happened to them. What can you do to protect your pet’s future? While pet owners...
In 2017, Congress passed the Tax Cuts and Job Act (the “Act”) which purportedly reduced the tax obligations of middle and lower class taxpayers. Among the changes to the Tax Code, the Act limited the deduction on mortgage interest to the first $750,000 of the loan. Interest on home equity lines of credit taken after the...
Many of us have at least one step-relative in the family – a step-parent, a step- or half-sibling, or a step-child. Because the relationships among step-family members are frequently as strong or stronger than the relationships we have with our direct family members, it is important to take current and potential step- relationships into account...
We have many clients who divide their time between New York and another state, often Florida. If you spend significant time in two different states, there may be a question as to where you actually reside. The question is more complicated than where you spend the most time — and the answer can really matter....
The IRS recently issued Revenue Ruling 2023-2, which has garnered a lot of media attention because of its implications on the treatment of assets that have been transferred into an irrevocable grantor trust. We have received calls from clients who are concerned that their careful estate planning has been undermined by this new ruling...
Since the enactment of the 2020 NYS budget, advocates have been on the lookout for what are expected to be meaningful changes to the Medicaid program, from financial and medical eligibility, to how assessments are conducted. Fortunately, some of these critical transformations have been delayed and will likely not go into effect in 2024. The...
Mental Health law crosses into all areas of legal practice. We have a unique family-focused law practice which guides families through the complex landscape of legal issues that impact loved ones with serious mental illness a n d/or substance use issues. We employ both straight-line interventions as well as those which require the ability to...
Did you know that financial institutions can share our personal and financial records? Did you know that credit reporting agencies can sell our credit report to credit card companies and others? Credit bureaus collect and profile data about each and every one of us in order to help businesses make decisions about those with whom...
Seniors who have been looking forward to a change in lifestyle or a move upon retirement may want to think about how this change may impact their loved ones. A discussion about retirement may be uncomfortable for parents. Some do not discuss the details of their finances with their children while others share information freely...
