Estate Planning Tips When You Near the Tax Limits

Estate Planning Tips When You Near the Tax Limits

Did you know that the estate tax exemption, currently set at $11.7 million for singles and $23.4 million for married couples, is set to expire in 2026? The current administration, however, has signaled a desire to reduce the exemption, though no one knows exactly when that might happen or how low the exemption might...
Read More
What You Need to Know About New York’s New Power of Attorney Law

What You Need to Know About New York’s New Power of Attorney Law

Did you know that, on June 13, 2021, the New York Statutory Short Form Power of Attorney (POA) goes into effect? The new law brings significant changes to New York’s requirements for how to validly execute a POA as well as to the POA form itself.  While a POA validly executed prior to the new law going into effect...
Read More
Why Do Trusts Fail?

Why Do Trusts Fail?

Did you know that a trust is a vehicle into which you place assets to be managed by a selected trustee for the benefit of the trust’s beneficiaries? There can be two essential elements to a trust.  First, there is the trust itself, which is created through a legal document that identifies the purpose of the trust,...
Read More
What Is Medicare Advantage?

What Is Medicare Advantage?

Did you know that Medicare Advantage, also known as Medicare Part C, is a type of Medicare plan that encompasses each of the other parts of Medicare in an all-in-one option? If you enroll in a Medicare Advantage plan, you will receive coverage from Medicare Part A (hospital insurance), Medicare Part B (medical...
Read More
The Checklist You Need for Choosing a Medicare Advantage Plan

The Checklist You Need for Choosing a Medicare Advantage Plan

When choosing a Medicare Advantage insurance plan, do you know what can be important to keep in mind? First, you should check out what type of coverage may be offered in the three different areas that the typical plan encompasses. Second, you should take a close look at whether any extra services are covered. Third,...
Read More
Open Enrollment: Medicare is Not Medicaid

Open Enrollment: Medicare is Not Medicaid

Open Enrollment in 2020 will run from Sunday, November 1, 2020, through Tuesday, December 15, 2020, for health insurance coverage beginning on January 1, 2021. During Open Enrollment for health insurance, you may have questions about what type of health insurance plan you are eligible to participate in. There are...
Read More
Do the New Medicaid Rules in New York Impact My Current Planning?

Do the New Medicaid Rules in New York Impact My Current Planning?

Have you considered that in every state, Medicaid rules intersect with estate planning guidance? New York is no different. Your Medicaid eligibility is impacted by your assets and it can be important to understand your options if you want to plan for Medicaid eligibility. In New York, you should consider long term...
Read More
Planning For Long-Term Care At Home

Planning For Long-Term Care At Home

Most of us do not think about it, but the reality is that we will likely need some form of long-term care as we age. Although most people think they need to go into a skilled nursing home facility, there are options for the home. Medicaid can help pay for this, but have you heard that there are some new rules? The...
Read More