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NEW REVISIONS TO THE NEW YORK STATE POWER OF ATTORNEY LAW New Revisions to the New York State Power of Attorney Law. Chapter 323 of the Laws of 2020 was signed by Governor Cuomo on December 15, 2020. It will be effective 180 days after it was signed into law (June 13, 2021). The signing Memo indicates there will be a Chapter Amendment that has been agreed on by the Governor and the Legislature. NEW YORK ASSET PROTECTION STRATEGIES IN ESTATE PLANNING In addition, our skilled attorneys will explain everything to you in a very clear, easy-to-understand way, helping you reach an informed decision about your estate. To schedule a free consultation and case evaluation with a New York estate planning attorney, please call us at INCLUDING DIGITAL ASSETS IN YOUR POWER OF ATTORNEY AND WILL Technology is supposed to make our lives easier, but can make changing estate plans more complicated. For more information about your estate plan, please call a skilled New York estate planning attorney at Goldfarb Abrandt & Salzman LLP at (212) 387-8400 or contact our office online. Articles for Attorneys. New Power of Attorney Law. EXEMPT TRANSFER OF HOME TO A CARETAKER CHILD However, having knowledge of the option of the exempt transfer of the homestead to a caretaker child is a crucial first step. To find out more about transferring a home to a caretaker child, please call our office at (212) 387-8400 or contact us online to set up a consultation today. Article By David Kronenberg. Articles for Attorneys. TEN BIGGEST MISTAKES YOU CAN MAKE IN YOUR ESTATE PLAN Ten Biggest Mistakes You Can Make In Your Estate Plan by Michael S. Kutzin Goldfarb Abrandt & Salzman LLP. facebook; twitter; google+; e-mail; share; print; Writing a “Top Ten” list for mistakes in an estate plan is especially challenging, as there are a myriad of GOLDFARB ABRANDT & SALZMAN LLP Goldfarb Abrandt & Salzman LLP. After 30 years the law firm of Goldfarb Abrandt & Salzman LLP will no longer be practicing law as a firm. Concentrating in elder law, trusts & estates, and the rights of people with disabilities, we have aided countless families, attorneys, social workers and financial planners. NEW RULES FOR TRUSTEES IN NEW YORK 2001 AMENDMENTS TO GENERATION-SKIPPING TRANSFER TAX 2001 Amendments to Generation-Skipping Transfer Tax Provisions Necessitates Trust Reviews. by Michael Kutzin Goldfarb Abrandt & Salzman LLP. While almost everyone is aware that there has been a purported “repeal” of the Federal Estate Tax effective in 2010 (but only for 2010 absent Congressional action), the Economic Growthand Tax Relief
THE ADVANTAGES AND PITFALLS OF “PROFESSIONAL GUARDIANS The Advantages and Pitfalls of “Professional Guardians”. When you think of a guardian of an incapacitated adult, you likely first think of an adult child or another close family member who will care for the adult. However, in some cases, a guardian may be a non-relative appointed by the courts. In many states, these are referred to as NEW YORK ESTATE ADMINISTRATION (WITHOUT A WILL) The Basics of Estate Administration Without a Will. A will is a document that indicates, among other things, what a person wants to happen with his or her assets. In addition, a will designates an executor, who is in charge of executing the terms of the will. The Surrogate’s court oversees this process, and the process itself isreferred to
NEW REVISIONS TO THE NEW YORK STATE POWER OF ATTORNEY LAW New Revisions to the New York State Power of Attorney Law. Chapter 323 of the Laws of 2020 was signed by Governor Cuomo on December 15, 2020. It will be effective 180 days after it was signed into law (June 13, 2021). The signing Memo indicates there will be a Chapter Amendment that has been agreed on by the Governor and the Legislature. NEW YORK ASSET PROTECTION STRATEGIES IN ESTATE PLANNING In addition, our skilled attorneys will explain everything to you in a very clear, easy-to-understand way, helping you reach an informed decision about your estate. To schedule a free consultation and case evaluation with a New York estate planning attorney, please call us at INCLUDING DIGITAL ASSETS IN YOUR POWER OF ATTORNEY AND WILL Technology is supposed to make our lives easier, but can make changing estate plans more complicated. For more information about your estate plan, please call a skilled New York estate planning attorney at Goldfarb Abrandt & Salzman LLP at (212) 387-8400 or contact our office online. Articles for Attorneys. New Power of Attorney Law. EXEMPT TRANSFER OF HOME TO A CARETAKER CHILD However, having knowledge of the option of the exempt transfer of the homestead to a caretaker child is a crucial first step. To find out more about transferring a home to a caretaker child, please call our office at (212) 387-8400 or contact us online to set up a consultation today. Article By David Kronenberg. Articles for Attorneys. TEN BIGGEST MISTAKES YOU CAN MAKE IN YOUR ESTATE PLAN Ten Biggest Mistakes You Can Make In Your Estate Plan by Michael S. Kutzin Goldfarb Abrandt & Salzman LLP. facebook; twitter; google+; e-mail; share; print; Writing a “Top Ten” list for mistakes in an estate plan is especially challenging, as there are a myriad of GOLDFARB ABRANDT & SALZMAN LLP Goldfarb Abrandt & Salzman LLP. After 30 years the law firm of Goldfarb Abrandt & Salzman LLP will no longer be practicing law as a firm. Concentrating in elder law, trusts & estates, and the rights of people with disabilities, we have aided countless families, attorneys, social workers and financial planners. NEW RULES FOR TRUSTEES IN NEW YORK 2001 AMENDMENTS TO GENERATION-SKIPPING TRANSFER TAX 2001 Amendments to Generation-Skipping Transfer Tax Provisions Necessitates Trust Reviews. by Michael Kutzin Goldfarb Abrandt & Salzman LLP. While almost everyone is aware that there has been a purported “repeal” of the Federal Estate Tax effective in 2010 (but only for 2010 absent Congressional action), the Economic Growthand Tax Relief
NEW YORK ELDER CARE LAWYERS About SeniorLaw.com. This is a Web site where senior citizens, their families, attorneys, social workers, and financial planners, can access information about elder law, Medicare, Medicaid, Medicaid planning, guardianship, estate planning, trusts and the rights of the elderly and disabled. SENIOR LEGAL HOTLINES Senior Legal Hotlines by Goldfarb Abrandt & Salzman LLP A list of HOTLINE phone numbers across the U.S. serving the senior population.. facebook; twitter; google+; e-mail; share; print; There are 20 Statewide across the United States. Most offer free legal telephone advice to persons over 60. NEW YORK ESTATE ADMINISTRATION (WITHOUT A WILL) The Basics of Estate Administration Without a Will. A will is a document that indicates, among other things, what a person wants to happen with his or her assets. In addition, a will designates an executor, who is in charge of executing the terms of the will. The Surrogate’s court oversees this process, and the process itself isreferred to
EXEMPT TRANSFER OF HOME TO A CARETAKER CHILD However, having knowledge of the option of the exempt transfer of the homestead to a caretaker child is a crucial first step. To find out more about transferring a home to a caretaker child, please call our office at (212) 387-8400 or contact us online to set up a consultation today. Article By David Kronenberg. Articles for Attorneys. THE FAMILY HEALTH CARE DECISIONS ACT On March 16, 2010, Governor David Paterson signed into law the Family Health Care Decisions Act, effective June 1, 2010, which for the first time will permit family and/or friends to make health care decisions for critically or chronically incapacitated patients who do not have a health care proxy. New York became the forty-ninth state to pass TEN BIGGEST MISTAKES YOU CAN MAKE IN YOUR ESTATE PLAN Ten Biggest Mistakes You Can Make In Your Estate Plan by Michael S. Kutzin Goldfarb Abrandt & Salzman LLP. facebook; twitter; google+; e-mail; share; print; Writing a “Top Ten” list for mistakes in an estate plan is especially challenging, as there are a myriad of NEW YORK MEDICAID ELIGIBILITY PLAN AND APPLICATIONS Single person – $15,150. Couple (i.e., where both spouses are applying for New York Medicaid) – $22,200. In the event that only one spouse is seeking admission to a facility, the community spouse will be able to retain at least $74,820—or a maximum of one-half of the couple’s joint liquid assets up to a maximum of $123,600. GUARDIANSHIP FOR INCAPACITATED PEOPLE IN NEW YORK UNDER Guardianship for Incapacitated People in New York Under Article 81 by Ira Salzman Goldfarb Abrandt & Salzman LLP. facebook; twitter; google+; e-mail; share; print; Article 81 of New York’s Mental Hygiene Law authorizes a court to appoint a guardian to manage the personal and/or financial affairs of a person who cannot manage for himself or herself because of incapacity. HEALTH CARE DECISION MAKING FOR INCAPACITATED PEOPLE WHO Under New York’s Family Health Care Decisions Act, if you have not signed a health care proxy form and you become mentally incapacitated, health care decisions while you are in a hospital or residential care facility can be made for you by an individual called a “surrogate.” (The rules with regard to who can serve as asurrogate and what
“SPOUSAL IMPOVERISHMENT" BUDGETING FOR MANAGED LONG TERM CARE On Sept. 24, 2013, the New York State Department of Health announced in GIS 13 MA/018 that “spousal impoverishment protections” are available to married participants in all Managed Long Term Care (MLTC) plans, including PACE and Medicaid Advantage Plus plans. Please note: GIS 14 MA/15 (08/15/2014) had rescinded GIS 13 MA/018 and stated that NEW REVISIONS TO THE NEW YORK STATE POWER OF ATTORNEY LAW New Revisions to the New York State Power of Attorney Law. Chapter 323 of the Laws of 2020 was signed by Governor Cuomo on December 15, 2020. It will be effective 180 days after it was signed into law (June 13, 2021). The signing Memo indicates there will be a Chapter Amendment that has been agreed on by the Governor and the Legislature. INCLUDING DIGITAL ASSETS IN YOUR POWER OF ATTORNEY AND WILL Technology is supposed to make our lives easier, but can make changing estate plans more complicated. For more information about your estate plan, please call a skilled New York estate planning attorney at Goldfarb Abrandt & Salzman LLP at (212) 387-8400 or contact our office online. Articles for Attorneys. New Power of Attorney Law. THE ADVANTAGES AND PITFALLS OF “PROFESSIONAL GUARDIANS The Advantages and Pitfalls of “Professional Guardians”. When you think of a guardian of an incapacitated adult, you likely first think of an adult child or another close family member who will care for the adult. However, in some cases, a guardian may be a non-relative appointed by the courts. In many states, these are referred to as NEW YORK ASSET PROTECTION STRATEGIES IN ESTATE PLANNING In addition, our skilled attorneys will explain everything to you in a very clear, easy-to-understand way, helping you reach an informed decision about your estate. To schedule a free consultation and case evaluation with a New York estate planning attorney, please call us at MEDICAID COVERAGE OF HOME CARE IN NEW YORK The programs that provide Medicaid coverage for home care can vary widely from state to state. The following are some programs in New York that can help provide home care assistance to participants: Managed Long-Term Care (MLTC) Program – This is a Medicaid program designed to assist eligible participants with disabilities or chronic EXEMPT TRANSFER OF HOME TO A CARETAKER CHILD However, having knowledge of the option of the exempt transfer of the homestead to a caretaker child is a crucial first step. To find out more about transferring a home to a caretaker child, please call our office at (212) 387-8400 or contact us online to set up a consultation today. Article By David Kronenberg. Articles for Attorneys. SUPPLEMENTAL NEEDS TRUSTS FOR DISABLED PERSONS The history of the use of third-party trusts for disabled beneficiaries evolved in three steps: (1) purely discretionary trusts, (2) Escher type trusts and (3) Statutory Supplemental Needs Trusts under EPTL §7-1.12. The use of the three types of trusts and how they affect government entitlement will NEW RULES FOR TRUSTEES IN NEW YORK GOLDFARB ABRANDT & SALZMAN LLP Goldfarb Abrandt & Salzman LLP. After 30 years the law firm of Goldfarb Abrandt & Salzman LLP will no longer be practicing law as a firm. Concentrating in elder law, trusts & estates, and the rights of people with disabilities, we have aided countless families, attorneys, social workers and financial planners. 2001 AMENDMENTS TO GENERATION-SKIPPING TRANSFER TAX 2001 Amendments to Generation-Skipping Transfer Tax Provisions Necessitates Trust Reviews. by Michael Kutzin Goldfarb Abrandt & Salzman LLP. While almost everyone is aware that there has been a purported “repeal” of the Federal Estate Tax effective in 2010 (but only for 2010 absent Congressional action), the Economic Growthand Tax Relief
NEW REVISIONS TO THE NEW YORK STATE POWER OF ATTORNEY LAW New Revisions to the New York State Power of Attorney Law. Chapter 323 of the Laws of 2020 was signed by Governor Cuomo on December 15, 2020. It will be effective 180 days after it was signed into law (June 13, 2021). The signing Memo indicates there will be a Chapter Amendment that has been agreed on by the Governor and the Legislature. INCLUDING DIGITAL ASSETS IN YOUR POWER OF ATTORNEY AND WILL Technology is supposed to make our lives easier, but can make changing estate plans more complicated. For more information about your estate plan, please call a skilled New York estate planning attorney at Goldfarb Abrandt & Salzman LLP at (212) 387-8400 or contact our office online. Articles for Attorneys. New Power of Attorney Law. THE ADVANTAGES AND PITFALLS OF “PROFESSIONAL GUARDIANS The Advantages and Pitfalls of “Professional Guardians”. When you think of a guardian of an incapacitated adult, you likely first think of an adult child or another close family member who will care for the adult. However, in some cases, a guardian may be a non-relative appointed by the courts. In many states, these are referred to as NEW YORK ASSET PROTECTION STRATEGIES IN ESTATE PLANNING In addition, our skilled attorneys will explain everything to you in a very clear, easy-to-understand way, helping you reach an informed decision about your estate. To schedule a free consultation and case evaluation with a New York estate planning attorney, please call us at MEDICAID COVERAGE OF HOME CARE IN NEW YORK The programs that provide Medicaid coverage for home care can vary widely from state to state. The following are some programs in New York that can help provide home care assistance to participants: Managed Long-Term Care (MLTC) Program – This is a Medicaid program designed to assist eligible participants with disabilities or chronic EXEMPT TRANSFER OF HOME TO A CARETAKER CHILD However, having knowledge of the option of the exempt transfer of the homestead to a caretaker child is a crucial first step. To find out more about transferring a home to a caretaker child, please call our office at (212) 387-8400 or contact us online to set up a consultation today. Article By David Kronenberg. Articles for Attorneys. SUPPLEMENTAL NEEDS TRUSTS FOR DISABLED PERSONS The history of the use of third-party trusts for disabled beneficiaries evolved in three steps: (1) purely discretionary trusts, (2) Escher type trusts and (3) Statutory Supplemental Needs Trusts under EPTL §7-1.12. The use of the three types of trusts and how they affect government entitlement will NEW RULES FOR TRUSTEES IN NEW YORK GOLDFARB ABRANDT & SALZMAN LLP Goldfarb Abrandt & Salzman LLP. After 30 years the law firm of Goldfarb Abrandt & Salzman LLP will no longer be practicing law as a firm. Concentrating in elder law, trusts & estates, and the rights of people with disabilities, we have aided countless families, attorneys, social workers and financial planners. 2001 AMENDMENTS TO GENERATION-SKIPPING TRANSFER TAX 2001 Amendments to Generation-Skipping Transfer Tax Provisions Necessitates Trust Reviews. by Michael Kutzin Goldfarb Abrandt & Salzman LLP. While almost everyone is aware that there has been a purported “repeal” of the Federal Estate Tax effective in 2010 (but only for 2010 absent Congressional action), the Economic Growthand Tax Relief
NEW YORK ELDER CARE LAWYERS About SeniorLaw.com. This is a Web site where senior citizens, their families, attorneys, social workers, and financial planners, can access information about elder law, Medicare, Medicaid, Medicaid planning, guardianship, estate planning, trusts and the rights of the elderly and disabled. THE FAMILY HEALTH CARE DECISIONS ACT On March 16, 2010, Governor David Paterson signed into law the Family Health Care Decisions Act, effective June 1, 2010, which for the first time will permit family and/or friends to make health care decisions for critically or chronically incapacitated patients who do not have a health care proxy. New York became the forty-ninth state to pass SUPPLEMENTAL NEEDS TRUSTS FOR DISABLED PERSONS The history of the use of third-party trusts for disabled beneficiaries evolved in three steps: (1) purely discretionary trusts, (2) Escher type trusts and (3) Statutory Supplemental Needs Trusts under EPTL §7-1.12. The use of the three types of trusts and how they affect government entitlement willLIVING TRUST
As a matter of law, any trust formed during your lifetime, rather than by your will, is a “living”, or “inter vivos” trust. However, for purposes of this article, I am using the term “living trust” as it is popularly known – a trust used as a will substitute toavoid probate.
EXEMPT TRANSFER OF HOME TO A CARETAKER CHILD However, having knowledge of the option of the exempt transfer of the homestead to a caretaker child is a crucial first step. To find out more about transferring a home to a caretaker child, please call our office at (212) 387-8400 or contact us online to set up a consultation today. Article By David Kronenberg. Articles for Attorneys. GOLDFARB ABRANDT & SALZMAN LLP Goldfarb Abrandt & Salzman LLP. After 30 years the law firm of Goldfarb Abrandt & Salzman LLP will no longer be practicing law as a firm. Concentrating in elder law, trusts & estates, and the rights of people with disabilities, we have aided countless families, attorneys, social workers and financial planners. HOW TO PAY A LIVE-IN HOME HEALTH AID However, paying someone to stay with you or a loved one 24 hours a day can prove expensive. After all, live-in home health care workers are entitled to minimum wage just like anyone else, which is at least $12 per hour in New York City as of December 13, 2017. This means that a year’s worth of care can cost upwards of $105,000 or more. MEDICAID ASSET PROTECTION TRUSTS (MAPTS) One such tool is a Medicaid Asset Protection Trust (MAPT). If you would like to discuss the benefits of MAPTs or discuss estate and long-term care planning in general, please do not wait to call the law firm of Goldfarb Abrandt & Salzman LLP in New York at (212) 387-8400. GUARDIANSHIP FOR INCAPACITATED PEOPLE IN NEW YORK UNDER Guardianship for Incapacitated People in New York Under Article 81 by Ira Salzman Goldfarb Abrandt & Salzman LLP. facebook; twitter; google+; e-mail; share; print; Article 81 of New York’s Mental Hygiene Law authorizes a court to appoint a guardian to manage the personal and/or financial affairs of a person who cannot manage for himself or herself because of incapacity.DAVID KRONENBERG
David Kronenberg. David I. Kronenberg is a partner in the law firm of Goldfarb Abrandt & Salzman LLP. David concentrates his practice in plans for long term care, including planning and advocating for home care, asset protection, nursing home care, estate plans, supplemental needs trusts, real estate, cooperatives, and the rights of the elderlyand disabled.
NEW REVISIONS TO THE NEW YORK STATE POWER OF ATTORNEY LAW New Revisions to the New York State Power of Attorney Law. Chapter 323 of the Laws of 2020 was signed by Governor Cuomo on December 15, 2020. It will be effective 180 days after it was signed into law (June 13, 2021). The signing Memo indicates there will be a Chapter Amendment that has been agreed on by the Governor and the Legislature. INCLUDING DIGITAL ASSETS IN YOUR POWER OF ATTORNEY AND WILL Technology is supposed to make our lives easier, but can make changing estate plans more complicated. For more information about your estate plan, please call a skilled New York estate planning attorney at Goldfarb Abrandt & Salzman LLP at (212) 387-8400 or contact our office online. Articles for Attorneys. New Power of Attorney Law. THE ADVANTAGES AND PITFALLS OF “PROFESSIONAL GUARDIANS The Advantages and Pitfalls of “Professional Guardians”. When you think of a guardian of an incapacitated adult, you likely first think of an adult child or another close family member who will care for the adult. However, in some cases, a guardian may be a non-relative appointed by the courts. In many states, these are referred to as NEW YORK ASSET PROTECTION STRATEGIES IN ESTATE PLANNING In addition, our skilled attorneys will explain everything to you in a very clear, easy-to-understand way, helping you reach an informed decision about your estate. To schedule a free consultation and case evaluation with a New York estate planning attorney, please call us at MEDICAID COVERAGE OF HOME CARE IN NEW YORK The programs that provide Medicaid coverage for home care can vary widely from state to state. The following are some programs in New York that can help provide home care assistance to participants: Managed Long-Term Care (MLTC) Program – This is a Medicaid program designed to assist eligible participants with disabilities or chronic EXEMPT TRANSFER OF HOME TO A CARETAKER CHILD However, having knowledge of the option of the exempt transfer of the homestead to a caretaker child is a crucial first step. To find out more about transferring a home to a caretaker child, please call our office at (212) 387-8400 or contact us online to set up a consultation today. Article By David Kronenberg. Articles for Attorneys. SUPPLEMENTAL NEEDS TRUSTS FOR DISABLED PERSONS The history of the use of third-party trusts for disabled beneficiaries evolved in three steps: (1) purely discretionary trusts, (2) Escher type trusts and (3) Statutory Supplemental Needs Trusts under EPTL §7-1.12. The use of the three types of trusts and how they affect government entitlement will NEW RULES FOR TRUSTEES IN NEW YORK GOLDFARB ABRANDT & SALZMAN LLP Goldfarb Abrandt & Salzman LLP. After 30 years the law firm of Goldfarb Abrandt & Salzman LLP will no longer be practicing law as a firm. Concentrating in elder law, trusts & estates, and the rights of people with disabilities, we have aided countless families, attorneys, social workers and financial planners. 2001 AMENDMENTS TO GENERATION-SKIPPING TRANSFER TAX 2001 Amendments to Generation-Skipping Transfer Tax Provisions Necessitates Trust Reviews. by Michael Kutzin Goldfarb Abrandt & Salzman LLP. While almost everyone is aware that there has been a purported “repeal” of the Federal Estate Tax effective in 2010 (but only for 2010 absent Congressional action), the Economic Growthand Tax Relief
NEW REVISIONS TO THE NEW YORK STATE POWER OF ATTORNEY LAW New Revisions to the New York State Power of Attorney Law. Chapter 323 of the Laws of 2020 was signed by Governor Cuomo on December 15, 2020. It will be effective 180 days after it was signed into law (June 13, 2021). The signing Memo indicates there will be a Chapter Amendment that has been agreed on by the Governor and the Legislature. INCLUDING DIGITAL ASSETS IN YOUR POWER OF ATTORNEY AND WILL Technology is supposed to make our lives easier, but can make changing estate plans more complicated. For more information about your estate plan, please call a skilled New York estate planning attorney at Goldfarb Abrandt & Salzman LLP at (212) 387-8400 or contact our office online. Articles for Attorneys. New Power of Attorney Law. THE ADVANTAGES AND PITFALLS OF “PROFESSIONAL GUARDIANS The Advantages and Pitfalls of “Professional Guardians”. When you think of a guardian of an incapacitated adult, you likely first think of an adult child or another close family member who will care for the adult. However, in some cases, a guardian may be a non-relative appointed by the courts. In many states, these are referred to as NEW YORK ASSET PROTECTION STRATEGIES IN ESTATE PLANNING In addition, our skilled attorneys will explain everything to you in a very clear, easy-to-understand way, helping you reach an informed decision about your estate. To schedule a free consultation and case evaluation with a New York estate planning attorney, please call us at MEDICAID COVERAGE OF HOME CARE IN NEW YORK The programs that provide Medicaid coverage for home care can vary widely from state to state. The following are some programs in New York that can help provide home care assistance to participants: Managed Long-Term Care (MLTC) Program – This is a Medicaid program designed to assist eligible participants with disabilities or chronic EXEMPT TRANSFER OF HOME TO A CARETAKER CHILD However, having knowledge of the option of the exempt transfer of the homestead to a caretaker child is a crucial first step. To find out more about transferring a home to a caretaker child, please call our office at (212) 387-8400 or contact us online to set up a consultation today. Article By David Kronenberg. Articles for Attorneys. SUPPLEMENTAL NEEDS TRUSTS FOR DISABLED PERSONS The history of the use of third-party trusts for disabled beneficiaries evolved in three steps: (1) purely discretionary trusts, (2) Escher type trusts and (3) Statutory Supplemental Needs Trusts under EPTL §7-1.12. The use of the three types of trusts and how they affect government entitlement will NEW RULES FOR TRUSTEES IN NEW YORK GOLDFARB ABRANDT & SALZMAN LLP Goldfarb Abrandt & Salzman LLP. After 30 years the law firm of Goldfarb Abrandt & Salzman LLP will no longer be practicing law as a firm. Concentrating in elder law, trusts & estates, and the rights of people with disabilities, we have aided countless families, attorneys, social workers and financial planners. 2001 AMENDMENTS TO GENERATION-SKIPPING TRANSFER TAX 2001 Amendments to Generation-Skipping Transfer Tax Provisions Necessitates Trust Reviews. by Michael Kutzin Goldfarb Abrandt & Salzman LLP. While almost everyone is aware that there has been a purported “repeal” of the Federal Estate Tax effective in 2010 (but only for 2010 absent Congressional action), the Economic Growthand Tax Relief
NEW YORK ELDER CARE LAWYERS About SeniorLaw.com. This is a Web site where senior citizens, their families, attorneys, social workers, and financial planners, can access information about elder law, Medicare, Medicaid, Medicaid planning, guardianship, estate planning, trusts and the rights of the elderly and disabled. THE FAMILY HEALTH CARE DECISIONS ACT On March 16, 2010, Governor David Paterson signed into law the Family Health Care Decisions Act, effective June 1, 2010, which for the first time will permit family and/or friends to make health care decisions for critically or chronically incapacitated patients who do not have a health care proxy. New York became the forty-ninth state to pass SUPPLEMENTAL NEEDS TRUSTS FOR DISABLED PERSONS The history of the use of third-party trusts for disabled beneficiaries evolved in three steps: (1) purely discretionary trusts, (2) Escher type trusts and (3) Statutory Supplemental Needs Trusts under EPTL §7-1.12. The use of the three types of trusts and how they affect government entitlement willLIVING TRUST
As a matter of law, any trust formed during your lifetime, rather than by your will, is a “living”, or “inter vivos” trust. However, for purposes of this article, I am using the term “living trust” as it is popularly known – a trust used as a will substitute toavoid probate.
EXEMPT TRANSFER OF HOME TO A CARETAKER CHILD However, having knowledge of the option of the exempt transfer of the homestead to a caretaker child is a crucial first step. To find out more about transferring a home to a caretaker child, please call our office at (212) 387-8400 or contact us online to set up a consultation today. Article By David Kronenberg. Articles for Attorneys. GOLDFARB ABRANDT & SALZMAN LLP Goldfarb Abrandt & Salzman LLP. After 30 years the law firm of Goldfarb Abrandt & Salzman LLP will no longer be practicing law as a firm. Concentrating in elder law, trusts & estates, and the rights of people with disabilities, we have aided countless families, attorneys, social workers and financial planners. HOW TO PAY A LIVE-IN HOME HEALTH AID However, paying someone to stay with you or a loved one 24 hours a day can prove expensive. After all, live-in home health care workers are entitled to minimum wage just like anyone else, which is at least $12 per hour in New York City as of December 13, 2017. This means that a year’s worth of care can cost upwards of $105,000 or more. MEDICAID ASSET PROTECTION TRUSTS (MAPTS) One such tool is a Medicaid Asset Protection Trust (MAPT). If you would like to discuss the benefits of MAPTs or discuss estate and long-term care planning in general, please do not wait to call the law firm of Goldfarb Abrandt & Salzman LLP in New York at (212) 387-8400. GUARDIANSHIP FOR INCAPACITATED PEOPLE IN NEW YORK UNDER Guardianship for Incapacitated People in New York Under Article 81 by Ira Salzman Goldfarb Abrandt & Salzman LLP. facebook; twitter; google+; e-mail; share; print; Article 81 of New York’s Mental Hygiene Law authorizes a court to appoint a guardian to manage the personal and/or financial affairs of a person who cannot manage for himself or herself because of incapacity.DAVID KRONENBERG
David Kronenberg. David I. Kronenberg is a partner in the law firm of Goldfarb Abrandt & Salzman LLP. David concentrates his practice in plans for long term care, including planning and advocating for home care, asset protection, nursing home care, estate plans, supplemental needs trusts, real estate, cooperatives, and the rights of the elderlyand disabled.
THE ADVANTAGES AND PITFALLS OF “PROFESSIONAL GUARDIANS The Advantages and Pitfalls of “Professional Guardians”. When you think of a guardian of an incapacitated adult, you likely first think of an adult child or another close family member who will care for the adult. However, in some cases, a guardian may be a non-relative appointed by the courts. In many states, these are referred to as NEW REVISIONS TO THE NEW YORK STATE POWER OF ATTORNEY LAW New Revisions to the New York State Power of Attorney Law. Chapter 323 of the Laws of 2020 was signed by Governor Cuomo on December 15, 2020. It will be effective 180 days after it was signed into law (June 13, 2021). The signing Memo indicates there will be a Chapter Amendment that has been agreed on by the Governor and the Legislature. NEW YORK ESTATE ADMINISTRATION (WITHOUT A WILL) The Basics of Estate Administration Without a Will. A will is a document that indicates, among other things, what a person wants to happen with his or her assets. In addition, a will designates an executor, who is in charge of executing the terms of the will. The Surrogate’s court oversees this process, and the process itself isreferred to
NEW YORK ASSET PROTECTION STRATEGIES IN ESTATE PLANNING In addition, our skilled attorneys will explain everything to you in a very clear, easy-to-understand way, helping you reach an informed decision about your estate. To schedule a free consultation and case evaluation with a New York estate planning attorney, please call us at INCLUDING DIGITAL ASSETS IN YOUR POWER OF ATTORNEY AND WILL Technology is supposed to make our lives easier, but can make changing estate plans more complicated. For more information about your estate plan, please call a skilled New York estate planning attorney at Goldfarb Abrandt & Salzman LLP at (212) 387-8400 or contact our office online. Articles for Attorneys. New Power of Attorney Law. TEN BIGGEST MISTAKES YOU CAN MAKE IN YOUR ESTATE PLAN Ten Biggest Mistakes You Can Make In Your Estate Plan by Michael S. Kutzin Goldfarb Abrandt & Salzman LLP. facebook; twitter; google+; e-mail; share; print; Writing a “Top Ten” list for mistakes in an estate plan is especially challenging, as there are a myriad of GOLDFARB ABRANDT & SALZMAN LLP Goldfarb Abrandt & Salzman LLP. After 30 years the law firm of Goldfarb Abrandt & Salzman LLP will no longer be practicing law as a firm. Concentrating in elder law, trusts & estates, and the rights of people with disabilities, we have aided countless families, attorneys, social workers and financial planners. NEW RULES FOR TRUSTEES IN NEW YORK “SPOUSAL IMPOVERISHMENT" BUDGETING FOR MANAGED LONG TERM CARE On Sept. 24, 2013, the New York State Department of Health announced in GIS 13 MA/018 that “spousal impoverishment protections” are available to married participants in all Managed Long Term Care (MLTC) plans, including PACE and Medicaid Advantage Plus plans. Please note: GIS 14 MA/15 (08/15/2014) had rescinded GIS 13 MA/018 and stated that 2001 AMENDMENTS TO GENERATION-SKIPPING TRANSFER TAX 2001 Amendments to Generation-Skipping Transfer Tax Provisions Necessitates Trust Reviews. by Michael Kutzin Goldfarb Abrandt & Salzman LLP. While almost everyone is aware that there has been a purported “repeal” of the Federal Estate Tax effective in 2010 (but only for 2010 absent Congressional action), the Economic Growthand Tax Relief
THE ADVANTAGES AND PITFALLS OF “PROFESSIONAL GUARDIANS The Advantages and Pitfalls of “Professional Guardians”. When you think of a guardian of an incapacitated adult, you likely first think of an adult child or another close family member who will care for the adult. However, in some cases, a guardian may be a non-relative appointed by the courts. In many states, these are referred to as NEW REVISIONS TO THE NEW YORK STATE POWER OF ATTORNEY LAW New Revisions to the New York State Power of Attorney Law. Chapter 323 of the Laws of 2020 was signed by Governor Cuomo on December 15, 2020. It will be effective 180 days after it was signed into law (June 13, 2021). The signing Memo indicates there will be a Chapter Amendment that has been agreed on by the Governor and the Legislature. NEW YORK ESTATE ADMINISTRATION (WITHOUT A WILL) The Basics of Estate Administration Without a Will. A will is a document that indicates, among other things, what a person wants to happen with his or her assets. In addition, a will designates an executor, who is in charge of executing the terms of the will. The Surrogate’s court oversees this process, and the process itself isreferred to
NEW YORK ASSET PROTECTION STRATEGIES IN ESTATE PLANNING In addition, our skilled attorneys will explain everything to you in a very clear, easy-to-understand way, helping you reach an informed decision about your estate. To schedule a free consultation and case evaluation with a New York estate planning attorney, please call us at INCLUDING DIGITAL ASSETS IN YOUR POWER OF ATTORNEY AND WILL Technology is supposed to make our lives easier, but can make changing estate plans more complicated. For more information about your estate plan, please call a skilled New York estate planning attorney at Goldfarb Abrandt & Salzman LLP at (212) 387-8400 or contact our office online. Articles for Attorneys. New Power of Attorney Law. TEN BIGGEST MISTAKES YOU CAN MAKE IN YOUR ESTATE PLAN Ten Biggest Mistakes You Can Make In Your Estate Plan by Michael S. Kutzin Goldfarb Abrandt & Salzman LLP. facebook; twitter; google+; e-mail; share; print; Writing a “Top Ten” list for mistakes in an estate plan is especially challenging, as there are a myriad of GOLDFARB ABRANDT & SALZMAN LLP Goldfarb Abrandt & Salzman LLP. After 30 years the law firm of Goldfarb Abrandt & Salzman LLP will no longer be practicing law as a firm. Concentrating in elder law, trusts & estates, and the rights of people with disabilities, we have aided countless families, attorneys, social workers and financial planners. NEW RULES FOR TRUSTEES IN NEW YORK “SPOUSAL IMPOVERISHMENT" BUDGETING FOR MANAGED LONG TERM CARE On Sept. 24, 2013, the New York State Department of Health announced in GIS 13 MA/018 that “spousal impoverishment protections” are available to married participants in all Managed Long Term Care (MLTC) plans, including PACE and Medicaid Advantage Plus plans. Please note: GIS 14 MA/15 (08/15/2014) had rescinded GIS 13 MA/018 and stated that 2001 AMENDMENTS TO GENERATION-SKIPPING TRANSFER TAX 2001 Amendments to Generation-Skipping Transfer Tax Provisions Necessitates Trust Reviews. by Michael Kutzin Goldfarb Abrandt & Salzman LLP. While almost everyone is aware that there has been a purported “repeal” of the Federal Estate Tax effective in 2010 (but only for 2010 absent Congressional action), the Economic Growthand Tax Relief
SENIOR LEGAL HOTLINES Senior Legal Hotlines by Goldfarb Abrandt & Salzman LLP A list of HOTLINE phone numbers across the U.S. serving the senior population.. facebook; twitter; google+; e-mail; share; print; There are 20 Statewide across the United States. Most offer free legal telephone advice to persons over 60. NEW YORK ESTATE ADMINISTRATION (WITHOUT A WILL) The Basics of Estate Administration Without a Will. A will is a document that indicates, among other things, what a person wants to happen with his or her assets. In addition, a will designates an executor, who is in charge of executing the terms of the will. The Surrogate’s court oversees this process, and the process itself isreferred to
KINSHIP HEARINGS
The lawyers of Goldfarb Abrandt & Salzman LLP understand how kinship hearings work in New York. If you have an upcoming kinship hearing or if you want information regarding any other estate planning or elder law matter, call (212) 387-8400 or contact us online to schedule yourconsultation.
THE FAMILY HEALTH CARE DECISIONS ACT On March 16, 2010, Governor David Paterson signed into law the Family Health Care Decisions Act, effective June 1, 2010, which for the first time will permit family and/or friends to make health care decisions for critically or chronically incapacitated patients who do not have a health care proxy. New York became the forty-ninth state to pass TEN BIGGEST MISTAKES YOU CAN MAKE IN YOUR ESTATE PLAN Ten Biggest Mistakes You Can Make In Your Estate Plan by Michael S. Kutzin Goldfarb Abrandt & Salzman LLP. facebook; twitter; google+; e-mail; share; print; Writing a “Top Ten” list for mistakes in an estate plan is especially challenging, as there are a myriad of NEW YORK MEDICAID ELIGIBILITY PLAN AND APPLICATIONS Single person – $15,150. Couple (i.e., where both spouses are applying for New York Medicaid) – $22,200. In the event that only one spouse is seeking admission to a facility, the community spouse will be able to retain at least $74,820—or a maximum of one-half of the couple’s joint liquid assets up to a maximum of $123,600. EXEMPT TRANSFER OF HOME TO A CARETAKER CHILD However, having knowledge of the option of the exempt transfer of the homestead to a caretaker child is a crucial first step. To find out more about transferring a home to a caretaker child, please call our office at (212) 387-8400 or contact us online to set up a consultation today. Article By David Kronenberg. Articles for Attorneys.IRA SALZMAN
Ira Salzman (retired) was formerly a partner in the law firm of Goldfarb Abrandt & Salzman LLP. Ira is the former Chair of the Elder Law Committee of the New York County Lawyers’ Association. He is currently a member of the Executive Committee of the Elder Law Section of the New York State Bar Association and the co-chair of itsGuardianship
“SPOUSAL IMPOVERISHMENT" BUDGETING FOR MANAGED LONG TERM CARE On Sept. 24, 2013, the New York State Department of Health announced in GIS 13 MA/018 that “spousal impoverishment protections” are available to married participants in all Managed Long Term Care (MLTC) plans, including PACE and Medicaid Advantage Plus plans. Please note: GIS 14 MA/15 (08/15/2014) had rescinded GIS 13 MA/018 and stated that 2001 AMENDMENTS TO GENERATION-SKIPPING TRANSFER TAX 2001 Amendments to Generation-Skipping Transfer Tax Provisions Necessitates Trust Reviews. by Michael Kutzin Goldfarb Abrandt & Salzman LLP. While almost everyone is aware that there has been a purported “repeal” of the Federal Estate Tax effective in 2010 (but only for 2010 absent Congressional action), the Economic Growthand Tax Relief
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This is a Web site where senior citizens, their families, attorneys, social workers, and financial planners, can access information about elder law, Medicare, Medicaid, Medicaid planning, guardianship, estate planning, trusts and the rights of the elderly and disabled. This site focuses on New York elder law, New York Medicaid, New York guardianship law, New York estate planning.BREAKING NEWS
NEW YORK GOVERNOR ANDREW CUOMO SIGNED AN EXECUTIVE ORDER ALLOWING FOR DOCUMENTS TO BE NOTARIZED VIRTUALLY USING AUDIO-VIDEO TECHNOLOGY. On March 20, 2020, Governor Cuomo issued Executive Order 202.7 effective through April 18, 2020. See Governor's Executive Order GOLDFARB ABRANDT & SALZMAN LLP For over 25 years the law firm of Goldfarb Abrandt & Salzman LLP has advocated for the elderly and people with disabilities. Concentrating in elder law, trusts & estates, and the rights of people with disabilities, we have aided countless families, attorneys, social workers and financial planners. Our practice concentrates in New York elder law, New York estate planning, New York estate administration, and New York guardianshiplaw.
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