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Grimaldi & Yeung

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Dividing Heirlooms Among Family Members

When it comes to distributing your assets, investment accounts are easily divided. However, tangible assets, especially those with sentimental value, can become emotional lightning rods for families. Boomers are today confronting their own mortality, and that includes preparing to transfer their wealth to children and grandchildren. According to an article... Continue reading

Posted 5 days ago at Grimaldi & Yeung

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Happy Social Work Month!

Grimaldi & Yeung LLP would like to take this opportunity to offer you our thanks as we join together to celebrate Social Work Month this March! You have touched the lives of many of our clients, neighbors and fellow New Yorkers. The dedication with which you serve makes our future... Continue reading

Posted Mar 7, 2019 at Grimaldi & Yeung

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Recently Widowed, Getting Divorced? Avoid These Classic Mistakes

Despite gains in many areas, married women still choose traditional roles, when it comes to finances. When divorce is in the picture, that creates big problems, for the present and the future. The upheaval presented by divorce and the probability that the woman will be the surviving spouse is difficult... Continue reading

Posted Mar 1, 2019 at Grimaldi & Yeung

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Complimentary Workshop Series 2019

The Federation of Italian-American Organizations of Brooklyn, Ltd. and Grimaldi & Yeung LLP announce a complimentary monthly legal education series focusing on “Getting your Legal House in Order as You Plan Your Retirement” Presented by: Judith D. Grimaldi, Esq. and Joanne Seminara, Esq. Partners of Grimaldi & Yeung LLP and... Continue reading

Posted Feb 21, 2019 at Grimaldi & Yeung

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What’s a Good Gift for Someone Who Gives So Much to Others?

The family caregiver is often overlooked, because by their nature they are giving souls. However, you can give a thoughtful gift to show your appreciation. You’re just now catching your breathe—so much rushing about for the holidays! However, one gift that you would never overlook would be that for the... Continue reading

Posted Feb 14, 2019 at Grimaldi & Yeung

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Top 5 Medicaid Home Care Myths

An Alzheimer’s Patient Cannot Qualify for Medicaid. Untrue. The key in applying for Medicaid benefits for Home Care is the need for medically necessary assistance with the activities of daily living called ADL’s. If the Medicaid applicant needs help with such tasks as bathing, dressing and toileting, then home care... Continue reading

Posted Jan 24, 2019 at Grimaldi & Yeung

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What Taxes Are Paid on Big Gifts?

Many parents are generous to their children and grandchildren and the holidays may have resulted in an extra big gift this year. Don’t worry about the taxes. Usually the giver pays them, but it’s not likely that your parents owe anything to Uncle Sam. If you are lucky enough to... Continue reading

Posted Jan 15, 2019 at Grimaldi & Yeung

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What Does Your Magic 8 Ball Say About 2019?

The last quarter of 2018 has been quite a dizzying ride, with headlines rattling even the most optimistic of us. Let’s take a look at the coming year’s hot topics. It’s that time of year, when New Year’s resolutions and predictions for the coming year are on everyone’s mind. In... Continue reading

Posted Jan 14, 2019 at Grimaldi & Yeung

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Comedian Tim Conway’s Incapacity and Family Squabble Provides a Lesson

Few performers could match Tim Conway for making fellow actors break character and dissolve into giggles, as he did on The Carol Burnett Show in the 1970s. His ad-libs were enough to send everyone on stage and in the audience into uncontrollable laughter. However, as funny as Conway was on... Continue reading

Posted Jan 11, 2019 at Grimaldi & Yeung

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Charitable Giving Throughout the Year

Lots of checks get written on December 31, when people accustomed to supporting charitable organizations make their annual donation. However, giving can be part of an effective tax and estate plan throughout the year. Did you know that summer is actually the hardest time of the year for families in... Continue reading

Posted Jan 10, 2019 at Grimaldi & Yeung

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Best of Brooklyn Winner!

IT'S OFFICIAL!! Grimaldi & Yeung LLP is the Dime Best of Brooklyn winner! THE BEST LAW FIRM and BEST LAWYER 2019 We are very proud to announce this honor as the only law firm and lawyer to win this award. As always, we will continue to provide the best service... Continue reading

Posted Jan 8, 2019 at Grimaldi & Yeung

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2019 Brings Higher Estate and Gift Tax Limits

The official estate and gift tax limits for 2019 were announced by the IRS. The news for high-net worth families is good. The estate and gift tax exemption will be $11.4 million per individual and $22.8 million for married couples. There will be no changes to the annual gift exclusion... Continue reading

Posted Jan 7, 2019 at Grimaldi & Yeung

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Is Your Retirement Plan Missing a Critical Piece?

People spend decades saving, tracking their account, and hoping they have enough money for their retirement. However, there’s often a missing piece—sometimes more than one! How is your retirement planning going? No, we aren’t asking about your retirement accounts, although those are important. Savings are important but your missing piece... Continue reading

Posted Jan 4, 2019 at Grimaldi & Yeung

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The Role of Life Insurance in Your Family’s Future

The real question isn’t if you need life insurance. The question is, what type of insurance do you need? Life insurance is one of those things that you are advised to buy the minute you have a spouse or children who count on your income. This type of insurance is... Continue reading

Posted Jan 3, 2019 at Grimaldi & Yeung

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What You Need to Know About Nursing Homes

Nursing home residents are vulnerable. To protect a loved one who lives in a nursing home, you’ll need to know what the facilities are and are not permitted to do, and what actions to take, if necessary. A nursing home is defined by Medicare as a special facility or part... Continue reading

Posted Jan 2, 2019 at Grimaldi & Yeung

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Changes to Pension and Retirement Plans for 2019

On November 1st, the Internal Revenue Service announced limitation changes for pension and retirements plans beginning January 1, 2019. Due to an increase in the cost of living, many of the limits were increased, with a few remaining at the 2018 levels. Individual Retirement Account (“IRA”) contribution limits and SIMPLE... Continue reading

Posted Dec 27, 2018 at Grimaldi & Yeung

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Happy Holidays!

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Posted Dec 21, 2018 at Grimaldi & Yeung

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Medicare vs. Medicaid

Many confuse Medicare with Medicaid and vice versa but they are two vastly different programs. Here are some of the main differences between Medicare and Medicaid. Medicare Generally, Medicare is a health insurance for senior citizens. It is a health plan offered by the Federal government when a person turns... Continue reading

Posted Dec 19, 2018 at Grimaldi & Yeung

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How a QTIP Protects Heirs in Blended Families

Lucky enough to find love the second time around? Wonderful. Want to protect your children’s inheritance? Here’s one estate planning option to address this concern. Estate planning for couples in second marriages, when each spouse has children from a prior marriage, requires a few extra planning steps. When each spouse... Continue reading

Posted Dec 17, 2018 at Grimaldi & Yeung

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When Is Life Insurance Taxable?

It’s all in the details. Life insurance proceeds are income tax free. If you are the beneficiary of an insurance policy, you will not have to pay income taxes when you receive the life insurance proceeds. However, Kiplinger’s recent article, “Myth: Life Insurance is NOT Taxable,” explains that life insurance... Continue reading

Posted Dec 14, 2018 at Grimaldi & Yeung

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Cleaning Out Your Legal and Financial File Cabinet

Over the years we gather paper clippings, documents and bank statements. We try to discard some of this ever increasing pile. It is difficult knowing which financial and personal paperwork you need to keep or what to discard. To help you with this difficult task, here is a suggested list... Continue reading

Posted Dec 6, 2018 at Grimaldi & Yeung

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Caller Beware: Calls from the Social Security Administration

If you receive a call from the Social Security Administration ("SSA") asking for your personal information in order to increase your benefits payments or threatening to cut off your benefits if you don't give them your information, be cautious. Scammers are now spoofing SSA's customer service number to try and... Continue reading

Posted Nov 21, 2018 at Grimaldi & Yeung

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Notable Medicare Changes for 2019

By Young Mee Kim Jun, JD, LMSW Effective January 2019, the Center for Medicare & Medicaid Services (CMS) made changes to Medicare rules, particularly related to Part C and Part D. Medicare Part C, also known as Medicare Advantage Plan (MA), is a Medicare coverage offered through private companies. When... Continue reading

Posted Nov 20, 2018 at Grimaldi & Yeung

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Estate Planning with Pet Trusts

Many people who have pets care for them and even consider their pets as close as children. They want to make sure their pets are taken care of, if they should become incapacitated or pass away. These owners feel that it is their responsibility to provide for their pet’s costs... Continue reading

Posted Nov 15, 2018 at Grimaldi & Yeung

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Winning Against a Stacked Deck: Medicare Hospital Discharge Appeal

The National Association of Elder Law Attorneys (“NAELA”) recently posted an article titled "Winning Against a Stacked Deck: Medicare Hospital Discharge Appeal", which discusses hospital discharge appeals for Medicare beneficiaries and how understanding the regulations that make it difficult to win an appeal is vital to successful advocacy. Our partner,... Continue reading

Posted Nov 13, 2018 at Grimaldi & Yeung

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