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New York Estate Planning & Elder Law Blog

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How Spousal Rollover IRAs Allow Estate Holder to Reduce Required Minimum Distribution from a Defined Contribution Plan

Depending on the terms and conditions of a defined contribution plan, a participant may elect to extend the tax-deductible life of those assets by transferring them to an estate or trust prior to death. A key incentive for extending the distribution period of defined contribution plan assets is transfer of…

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New York End-of-Life Agency Allows Refusal of Food and Water Directive

Recently, the board for End Of Life Choices New York approved an aggressive new document that would allow individuals to stipulate in advance that they may refuse food and water should they develop dementia at some point. The goal of the directive is to allow individuals to speed up their…

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HHS Secretary Asks Former CVS Executive to Help Agency Lower Drug Prices

Health and Human Services Secretary Alex Azar recently tapped former CVS executive Daniel Best to lead the agency’s effort to help lower drug prices for millions of Americans on Medicare coverage. Best was most recently a vice president of industry relations for the company’s Medicare Part D business and included…

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CMS Issues New ID Cards, Announces Increased Payments to Private Plans

The Centers for Medicare and Medicaid Studies (CMS) recently made a pair of announcements regarding changes to some of the important services the agency offers to millions of seniors across the country. Both of which aim to improve customer experience for CMS enrollees and help combat the threat of identity…

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Connecticut Man’s Challenge to Still Living Father’s Estate Fails

A federal court in Connecticut recently dismissed a lawsuit brought by a Connecticut man who felt jilted after being excluded from his still-living father’s estate on the grounds the plaintiff had yet to suffer any actual injury. The case is a cautionary tale for both testators and heirs in situations…

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What are the Legal Rules to Estate Investment Robo-advisory Services?

Robo-advisers are transforming the investment industry, including the estate advisory and planning segment. Algorithms present cost-effectiveness that translates to further savings for the investor by eliminating the “middleman.” Human advisers charge significantly more than these alternative wealth management services, making traditional services less appealing of an option for younger investors…

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The Law of Incapacitated Parties and Probate

When estate planning clients require a legal guardian to perform power of attorney, the process can be complicated. This is especially true when rules of guardianship are involved in distribution of revocable trust assets for purposes of medical care or other life-sustaining care need of the trustee. In some states,…

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Doctrine of Revocation: Estate planning and the Rules to Spousal Inheritance Post-divorce in New York

At the turn of the 21st century, divorce or annulment of a marriage did not automatically revoke any revocable disposition or appointment of property from an ex-spouse at time of a decedent’s death in New York.  Since 2008, with the amendment of the. Existing Estates, Powers and Trusts Law, EPTL…

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