The term, sandwich generation, was created to refer to a generation of individuals who were taking care of their parents while also having their own children. As the baby boomer generation ages, younger individuals are moving into a similar situation and in many cases are doing so at a younger…
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New York Estate Planning & Elder Law Blog
Lessons Learned After IRS Proposes User Fee for Estate Tax Closing Letters
Executors as well as the personal representatives of estates can be held personally liable for either applying or distributing estate assets when there are unpaid estate taxes owed in case the Internal Revenue Service is not paid. When estate tax returns are not filed, the final amount of estate taxes…
Lessons Learned After New York Mail Fraud Case
The Department of Justice recently indicted four men including two individuals who are located in Canada and two in the state of New York for a mass-mailing scheme that robbed thousands of senior citizens of tens of millions of dollars. Based on the Canadian indictments, the accused fraudsters sent…
3 Tips on Discussing Estate Planning with Your Parents
While many members of the Baby Boomer generation view Millennials as self-involved, the Millennial age group has been maturing. Some Millennials are even currently in their early 40’s. This means that many Millennials are reaching a point where they are having to engage in difficult conversations with their parents about…
4 Things To Appreciate About Theft and Nursing Homes
Placing a loved one in a nursing home is one of the most difficult decisions that many people make. It isn’t easy for a person to make the transition from living at home to living in a nursing home. To make the place feel more in common, it’s common to…
Reasons Why Estate Planning Should Be Part of Your Retirement Plan
One of the most recurring themes about estate planning as well as retirement strategies is to minimize risk. As a result, if you plan on creating a comprehensive retirement plan, you should make sure to also include an adequate estate plan. While you will hopefully enjoy a long and comfortable…
4 Things to Understand about Nursing Homes and Bed Sores
An elderly individual or person who is receiving care at a nursing home should not be required to live with bed sores. In many situations, bed sores are a good indicator that a person is being neglected. These sores can lead to infections that can jeopardize a person’s health and…
Estate Planning Advice If You Plan on Relocating
After moving between states, many people are overwhelmed and overlook critical estate planning steps. This can lead to undesirable estate planning results because different states treat issues like marital property and taxes differently. In these situations, it helps to understand some helpful advice about how to revise and update your…
3 Tips About When Crisis Medicaid Planning Is Appropriate
Medicaid is a joint federal and state program available to people who meet certain asset requirements that help pay for long-term care costs. Long-term care unfortunately often presents financial challenges for individuals in the United States including both the elderly as well as others who provide care for family members…
4 Issues to Remember About “Black Sheeps” and Estate Planning
Countless families have members who are black sheep. These individuals can end up influencing how the family passes on assets. Regardless of the situation, it is critical to evaluate and reflect on your beneficiary’s situation when it comes to estate planning. As a result, this article reviews some critical issues…