It is now more important than ever for clients to engage in Medicaid planning in advance of the need for Medicaid benefits because of changes that were implemented in the 2021 fiscal budget by our state’s legislature and signed by Gov. Cuomo in early April 2020. In the Special Edition of this newsletter in April,...
While many people believe that palliative care and hospice are the same, they are not. Hospice care is palliative, but palliative care is not hospice. Palliative care, also sometimes referred to as supportive care, is directed to providing relief from the symptoms and stress of a serious illness, irrespective of the diagnosis or prognosis....
The news frequently reports on fights that have arisen over the estates of celebrities who have either failed to establish a Will or have failed to update their Will to reflect existing circumstances. David Cassidy recently passed away. His Will was signed in 2004. It excluded his daughter who, at that time had been estranged...
On December 20, 2017, Congress passed a comprehensive tax reform bill, the 2017 Tax Cuts and Jobs Act (TCJA), which President Trump signed into law two days later. It was effective on January 1, 2018 and will automatically expire on December 31, 2025. After that date, the rules for individuals revert back to the pre-existing...
Encouraging an elderly parent or loved one to undertake estate planning is a sensitive topic. Many of our clients have described feeling awkward or believing that their motives were in question. Yet learning about our loved ones’ legal and financial affairs can help prevent serious problems later. Think about the issues you want to...
We previously reported about the drastic changes the SECURE Act, which became effective in January 2020, will have on retirement accounts and estate plans. The coronavirus has also impacted retirement accounts. The “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act), which was signed into law on March 27, 2020, among other important provisions, postpones required...
Spring is the time of year when we customarily remind our clients and friends to think about their estate plans and we encourage them to take the steps to ensure that their estate planning documents truly reflect their current wishes and needs. This is just as relevant today as it has ever been. While we...
While New York has been grappling with the coronavirus and is focused on this crisis, our legislature passed a new budget. As might be expected, because New York is facing huge deficits, major cuts were put into effect. Unfortunately, one of the programs which was drastically affected and is now facing major changes is Medicaid....
We all know how hard the greater New York metropolitan area has been affected by COVID 19. Nursing homes and assisted living facilities have been grappling with its spread among residents and staff. They have closed their doors to visitors and instituted other measures that have the affect of isolating residents from each other and...
Perhaps the most tragic outcome of coronavirus is that our loved ones are becoming “facility prisoners” because they are unable to receive visitors and, in some circumstances, are confined to their rooms to prevent the spread of the virus within the facility. Being cut off from family can be disorienting and depressing. And if one...
