Trusts & Estates


Time to Prepare for Possible Medicaid Home Care Changes
July 8, 2020 | Wendy Hoey Sheinberg | Trusts & Estates
Community Medicaid Services will undergo a significant change on October 1, 2020, due to the passage of the New York State Budget Bill (“2020 Bill”). Although many of the changes in the 2020 Bill are subject to federal approval, this bulletin will offer an overview of what might be affected. You can take steps now …
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Without a Plan, the State Decides Where Your Assets Go
May 20, 2020 | Jeffrey S. Greener | Trusts & Estates
You’ve heard the adage: Those who fail to plan, plan to fail. Never is that more true than with estate planning. When you create an estate plan, you choose exactly who gets your assets, how they get them and in what manner you will pass those assets to your loved ones. An estate plan often …
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What to Do about CARES Act Payments Made to Deceased Individuals
May 11, 2020 | Wendy Hoey Sheinberg | Andrew S. Epstein | Trusts & Estates
The Coronavirus Aid, Relief, and Economic Security Act of 2020 (CARES Act) is a federal economic relief package for American workers and families. It provides for payments of up to $1,200 to individuals ($2,400 for married couples) with additional payments of up to $500 for each eligible child. Financial eligibility for these payments is based …
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DOH Confirms that Pandemic Payments Will Not Affect Medicaid Eligibility
April 24, 2020 | Wendy Hoey Sheinberg | Trusts & Estates
The New York State Department of Health has issued a General Information System (GIS) message clarifying the impact of COVID-19 related payments on Medicaid eligibility determinations. The GIS  confirms that pursuant to sections 2104 and 2201 of the  Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020  certain pandemic-related payments will not impact Medicaid …
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Trustees, Under Pressure from Beneficiaries Affected by COVID-19, Face Legal Risks
| Trusts & Estates
For many Trustees, the current economic environment is probably the most challenging they have ever faced. As the coronavirus epidemic sweeps across the country and throughout much of the world, the stock markets have experienced unprecedented volatility not seen since the Crash of 1929.1 Treacherous. Unpredictable. Hysterical. These are just some of the words that …
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Action Required for Certain Non-Filers to Obtain Maximum Economic Impact Payment
April 21, 2020 | Wendy Hoey Sheinberg | Trusts & Estates | Tax
The IRS on April 20, 2020, issued a special alert for non-filing Social Security or Railroad Retirement Benefit Recipients with qualifying children under 17 (“non-filers”). In order to receive the additional $500 payment per eligible child added to the $1,200 Economic Impact Payment, non-filers must register on the IRS’ Non-Filer tool site by 12 p.m. …
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10 Steps to Protect Your Loved Ones From Elder Fraud Abuse
| Trusts & Estates
We have an elder fraud epidemic in this country. By one estimate, one in 10 people in the United States over the age of 65 falls victim to financial fraud every year. Telephone scams, caretaker abuse and contractor fraud are just three of the most common forms of this exploitation. As baby boomers grow older, …
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Estate Planning Documents May Now Be Witnessed and Notarized Remotely
April 8, 2020 | Wendy Hoey Sheinberg | Trusts & Estates
New York now permits remote witnessing of certain documents and expands standby guardian designations. Executive Order 202.14, dated April 7, 2020, amends several New York laws regulating the witnessing of documents to permit them to be witnessed remotely. On March 19, 2020 Executive Order 202.7 authorized the use of remote notary services. Taken together, these …
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Lower Stock Prices’ Silver Lining: Good Time to Gift Assets
April 2, 2020 | Jeffrey S. Greener | Tax | Trusts & Estates
The recent stock market volatility due to the coronavirus has understandably caused concern. When the market drops, however, it presents a great estate planning opportunity. Then, it’s the perfect time to gift assets to loved ones at a significant discount, something that would not have been possible even one month ago. Lower stock prices allow …
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An Important Message during Difficult Times
March 30, 2020 | Jeffrey S. Greener | Trusts & Estates | Tax
Friends and colleagues- My thoughts are with you during these uncertain times. First and foremost, I want you and your family to stay safe and healthy. Social distancing is a small price to pay for guarding the wellness of our most vulnerable. Second, I am sure you are anxious about your health and the health …
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