Trusts

Estate Planning & Divorce

Pending Divorce? Run, Don’t Walk, to your Estate Planning Attorney

Estate Planning Changes after a Divorce or Separation The literal meaning of divorce is to “turn to different ways.” Once the decision is made to part ways, the physical and emotional separation is usually immediate, but the legal severing of ties can take months, if not years. Even in the most amicable divorces, does anyone …

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Estate Planning for Musicians

Estate Planning for Musicians

New York is a mecca for the arts and there are approximately 12,000 professional musicians living in New York City and countless others just breaking into the music business. This includes studios musicians, band members, opera singers, soloists, hip hop artists, Broadway performers, orchestra musicians, composers, and songwriters. In addition to having the same estate …

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IDGT

The Fully Functional Intentionally Defective Grantor Trust

What is an Intentionally Defective Grantor Trust? Why would an attorney suggest an intentionally defective trust? It is certainly better than an unintentionally defective grantor trust, believe me. These types of trusts are referred to as IDGTs because the grantor intentionally retains enough power over the trust assets  to cause the grantor to be treated …

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Big Changes to Medicaid Home Care Effective October 1, 2020

New York Community Medicaid Changes In April 2020, amidst the beginning of the COVID-19 pandemic the New York State Legislature passed the 2020-2021 budget. Every year the governor threatens to slash the Medicaid budget and considering the dire fiscal straits, it is not surprising that significant changes to Medicaid were passed. These changes will adversely affect …

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Advance Directives

Why Covid-19 Has Made Advance Directives Crucial

The Trifecta: Power of Attorney, Healthcare Proxy and Living Will Although attorneys have long advised that anyone over the age of eighteen needs advance directives—Health Care Proxy, Living Will, Durable Power of Attorney, nomination of guardian if you have minor children—we contemplated life changing events particular to a single person not a global event that …

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