By Amy C. O’Hara, CELA It is essential for families with significant wealth to be aware of estate and gift tax limits. An important part of estate planning is making sure that as much of your wealth as possible goes to your heirs rather than to pay taxes. The good news is that both the…

Long awaited changes to the New York State Power of Attorney regulations were signed into law by Governor Cuomo on December 15, 2020. The bill, a major overhaul of the existing power of attorney legislation, will substantially change the format and enforceability of the current document in a few key ways. Most significantly, the power…

The Department of Education emphasizes the importance of flexibility in meeting children’s educational needs. The Department of Education released a document addressing concerns surrounding the availability of Early Intervention Services to infants and toddlers with special needs. Under the Individuals with Disabilities Education Act Individualized Family Service Plan (IFSP), the state is required to “ensure…

For many, creating a will is the first step in the estate planning process. However, many people are surprised to learn that, even with a will, the distribution of estate property is not always straightforward. In large part, this is due to the New York probate process. A will is a legal document in which…

As many as six out of every ten Americans have no estate planning documents in place in the event of their death. This shocking statistic, based on a Gallup poll of adults ages 18 and up, poses an excellent question, what will happen if you die without a will? Dying without a will or other…

By Sandi Rosenbaum, Littman Krooks LLP Justice Ruth Bader Ginsburg, who died September 18, 2020 and served on the US Supreme Court for 27 years, is best known for her contributions toward dismantling discrimination on the basis of gender, as both an attorney and a jurist.  However, it was her June 1999 majority decision in…

For business owners and professionals, legal liability is a major concern. By creating an asset protection plan, business owners and other professionals can restructure their assets to limit their risk of loss in the event of a lawsuit or other event. An asset protection plan uses legal means to remove assets from the reach of…

Community Medicaid is a needs-based government assistance program that provides long-term care benefits to individuals at home. To qualify, an applicant’s resources and income limits must fall below a determinative limit that is adjusted annually. For the year 2020, that limit is $15,750 for available (non-exempt) resources and $895 of income for a single individual.…

On October 7, 2020, the U.S. Securities and Exchange Commission (the “SEC”) voted to propose a conditional exemption from broker registration requirements for “finders” who assist issuers with raising capital in private markets from accredited investors. If enacted, the exemption would permit individuals to engage in certain limited capital-raising activities for privately held companies and…

Government officials remind schools and vocational rehabilitation centers of their duty to help students with disabilities transition into adulthood. The realities of the COVID-19 pandemic are still setting in for some families who have teenage children with disabilities. While the transition from childhood to adulthood can be difficult for many youths, those living with a…