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Amoruso & Amoruso
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A durable Power of Attorney can be set up in different ways. You do not have to give up total control when granting a Durable Power of Attorney, according to The Daily Sentinel’s article “Tools to help your aging parent.” Granting a power of attorney to a child is often... Continue reading
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Titling assets through joint tenancy works well, until it doesn’t. Going without an estate plan and relying on titling assets through joint tenancy to a surviving spouse can be a workable plan but then again, it can become a nightmare, according to the Santa Cruz Sentinel in “After husband’s death,... Continue reading
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So, which taxes should draw your attention? There is a lot of news coverage and discussion about federal estate taxes. However, unless you are in the upper level of the wealthy, they will not have an impact on you but there are some other taxes that can be very extensive,... Continue reading
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Tax liabilities can lead to a severe financial misstep. If you are likely to inherit the family farm, it would be wise to pay especially close attention to your estate planning attorney and CPA, according to Capital Press in “The family farm is coming to you: What’s next?” If you... Continue reading
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You never know what the future will bring. It is best to make plans and follow them. It can take a little time, some expense and some difficult planning. However, it is very wise to have an estate planning attorney work with you to prepare your estate plan, according to... Continue reading
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Sometimes people forget the beneficiary designations they made for IRAs and insurance and have different wishes expressed in their will. A beneficiary designation overrides a will. Therefore, any plan you might have had for that asset in your will most likely is not going to happen, according to the Daily... Continue reading
Posted Apr 12, 2019 at New York Estate Planning & Elder Law
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It sometimes comes down to what was the person’s intent. The preparation of a will and estate plan is serious legal work. However, it can get very complex when a man executes three wills and doesn’t get one of them witnessed, according to nwi.com in “Estate Planning: Will formalities are... Continue reading
Posted Apr 11, 2019 at New York Estate Planning & Elder Law
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Yes, the importance of the directive is that it makes your wishes known. An advance directive is a way to make sure your wishes are known to another person or persons and by legally conveying them in advance, making sure you have a say, even when you don’t have a... Continue reading
Posted Apr 10, 2019 at New York Estate Planning & Elder Law
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If you rely on benefits and your spouse dies, there are some key steps to follow. A person is right to be concerned about Social Security when their spouse passes away, according to the Tuscon.com in “Social Security and You: What to do when a loved one dies.” The article... Continue reading
Posted Apr 9, 2019 at New York Estate Planning & Elder Law
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A trust for your pets can keep them safe when you are gone. It most likely will not take a tremendous amount of money to provide financial support for your pets after you are gone, so it might be a good idea to remember them in your estate plan, according... Continue reading
Posted Apr 8, 2019 at New York Estate Planning & Elder Law
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Women should consider how to care for loved ones through an estate plan as well as themselves. Women live approximately 4.9 years longer than men. That fact should be considered in estate planning, according to the Boca Newspaper in “Smart Tips for Women: Estate Planning.” If you plan carefully, wishes... Continue reading
Posted Apr 5, 2019 at New York Estate Planning & Elder Law
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It is not only your decisions that create a comfortable retirement but also the impact of economic events. One of the keys to supporting a successful retirement, is to generate sufficient income to enjoy a comfortable retirement and also employ tactics that protect your income from possible changes over time,... Continue reading
Posted Apr 4, 2019 at New York Estate Planning & Elder Law
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Elderly man pays $4,000 for bogus inheritance in the millions. The Times News tells a cautionary tale to seniors, who are often targeted by scammers, and their adult children, who need to protect their aging parents in the article “Elderly Hawkins man loses $4K in phony $89.5 million inheritance scam.”... Continue reading
Posted Apr 3, 2019 at New York Estate Planning & Elder Law
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Wouldn’t you prefer to decide where your assets end up rather than have the state make the decisions? You don’t have an estate plan? If that is the case then there is a pretty good chance you will leave behind family confusion, family infighting and left over hard feelings, according... Continue reading
Posted Apr 2, 2019 at New York Estate Planning & Elder Law
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If you are ready to pack up and leave the work life behind, there are a few things to consider. You have worked for decades and it is now time to retire. But wait, there are some things it would be wise to accomplish during those last months of working,... Continue reading
Posted Apr 1, 2019 at New York Estate Planning & Elder Law
Days ago, on Tuesday 3/26/19, the New York State Court of Appeals in Andryeyeva v. New York Health Care, Inc., et. al., held that home care agencies are not required to pay a "live-in" aide for each hour of a 24 hour shift. Instead, they are only required to pay... Continue reading
Posted Mar 29, 2019 at New York Estate Planning & Elder Law
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The reason doesn’t matter. When grandparents raise the grandchildren, legal advice is very important. If you end up in the situation where you are bringing up your grandchildren, there are some legal issues you may face, according to the Record Herald in “Grandparents Raising Grandchildren.” Just for starters, you cannot... Continue reading
Posted Mar 26, 2019 at New York Estate Planning & Elder Law
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The medical procedure may be routine. However, you still need to be ready with answers. Many documents including health care proxy may now need to be in place before medical procedures, according to the Kirkland Reporter in “Take control of health care decisions in 2019 | Coming of Age…Again.” Someone,... Continue reading
Posted Mar 25, 2019 at New York Estate Planning & Elder Law
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What is the next step if aging parents can no longer easily handle financial and legal affairs? The transition of adult child to caregiver can create some real challenges, when it comes to helping aging parents, according to the Monterey Herald in “Financial planning: Family communication helps aging parents,” Parents... Continue reading
Posted Mar 22, 2019 at New York Estate Planning & Elder Law
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A periodic review will also give you an idea of any changes that are necessary. A will is certainly something that should be completed. However, it isn’t a document to put on the shelf and forgotten because, as your life and government laws change, so should your will, according to... Continue reading
Posted Mar 21, 2019 at New York Estate Planning & Elder Law
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Benefits are available to ex-spouses, under certain circumstances. As retirement approaches and Social Security benefits become available, it is important for divorced people to be particularly aware of their entitlement rights, according to Yahoo! Finance in “3 Things to Know About Social Security if You’re Divorced.” If you are divorced... Continue reading
Posted Mar 19, 2019 at New York Estate Planning & Elder Law
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Regulators move to halt abuse. However, fraud is still at $30 billion. Financial abuse of the elderly is high in the U.S., with estimates at $30 billion and that sum doesn’t include unreported cases, according to Consumer Reports in “3 Critical Ways to Prevent Elder Financial Abuse.” Some crimes remain... Continue reading
Posted Mar 18, 2019 at New York Estate Planning & Elder Law
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Why is the revocable trust so appealing? You can change it whenever you’d like. You do not have to have a lot of money or assets in order to benefit from the use of trusts, according to Barron’s in “Why a Trust is a Great Estate Planning Tool – Even... Continue reading
Posted Mar 18, 2019 at New York Estate Planning & Elder Law
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Check your estate plan for changes required to meet new requirements and opportunities. Changes imposed by the passage of the Tax Cuts and Jobs Act create a need to revisit your estate plan if you have not already done so, according to The Kansas City Star in “Talk to estate... Continue reading
Posted Mar 15, 2019 at New York Estate Planning & Elder Law
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Passing away quietly at home without pain, is not a common occurrence. Increasing the chances of achieving a peaceful death requires some careful planning as well as conversations with loved ones, according to The Wall Street Journal in “Preparing For a Good End Of Life.” You will want to make... Continue reading
Posted Mar 14, 2019 at New York Estate Planning & Elder Law