Prenuptial agreements commonly make headlines as celebrities getting hitched try to protect their fortunes. But the focus on celebrities (or the ultra-rich) is misleading. In reality, average Americans should, and frequently do, make use of the benefits of prenuptial agreements. In our area, New York estate planning attorneys know that…
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New York Estate Planning & Elder Law Blog
Failure to Update a Plan Nightmare
Estate planning takes time. Unfortunately, considering the daily time stresses faced by all local residents, our New York elder law estate planning attorneys appreciate that there is often not a sense of “urgency” with this planning. It is usually a task that gets pushed to the side while day-to-day choeres…
Improvement in the IRS Art Value Appraisal Services
An appraisal is an expert assessment of the value of a particular asset at a given time. Many factors involved in the appraisal of a property can easily distort its value–overvaluing or undervaluing it. The IRS uses appraisals in the process of assessing property taxes, which requires the appeal of…
Massive Medicaid Fraud and Texas’ O.I.G Dollar Recovery Strategy
Medicaid and Medicare frauds have been weighing heavily on states’ financial resources in the past years and New York is not an exception. In the midst of solutions to this inter-state problem, eyes are focused on the Office of Inspector General at Health and Human Services Commission (O.I.G) – charged…
Medicaid and Pension Obligations Pressuring State Budgets
A new report from the “State Budget Task Force” released last week found that two issues were by far the most pressing for state and local government budgets: pensions and Medicaid. The full report can be viewed HERE. Chaired by former New York Lieutenant Governor Richard Ravich, the group creating…
DOMA Challenge Likely Headed to U.S. Supreme Court
http://www.washingtonpost.com/lifestyle/style/edie-windsors-fight-for-same-sex-marriage-rights-continues-even-after-partners-death/2012/07/19/gJQARguhwW_story.html In the wake of the passage of marriage equality laws in our state, many assumed that the issue was settled for New York’s same-sex couples–they would be treated the same as all other couples in our state. Not so. Our New York estate planning attorneys are acutely aware of…
Federal Bill to Protect Seniors Advances in Senate
Over the past two years there has been increased focus on the scourge of elder abuse in all its forms. Yet, the awareness effort has not led to any federal legal changes to help protect seniors from things like physical neglect at home to senior financial exploitation. That may soon…
Institute of Medicine Report: 1 in 5 Boomers With Mental Health Issue
There is a tendency to underestimate the actual risk of suffering mental and physical disabilities as one ages. Everyone knows that seniors often face physical issues and others suffer from cognitive problems, but most relatively healthy individuals convince themselves that they are less likely to face those concerns down the…
Life in an Assisted Living Facility
This week the Washington Post published an interesting, extended story seeking to share information on life in assisted-living facilities. The article, written by a man living in one of these homes, paints a grim picture of life for seniors needing extra day-to-day care. The text was adapted from a literary…
Bizarre Estate Feud Leads to Drive By Shooting
One of the more unique estate planning feuds in recent memory remains under investigation, three years following the death of the family matriarch that started the debacle. While few families descend into physical violence, our New York estate planning lawyers appreciate that this case is a stark reminder of the…