On February 16, 2021, New York state legalized compensated gestational surrogacy. The Child-Parent Security Act (the Act) imposes estate planning requirements on the intended parents. Required Estate Planning Prior to implanting the embryo in the surrogate, the intended parent(s) must sign a will. The will must: designate a guardian for all children born of the …
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Estate tax “reform” continues to be a prime objective for Democrats. On the heels of more and more talk in Washington about the inequality of the U.S. tax system, Senator Bernie Sanders has just introduced legislation to impose a progressive tax on America’s wealthiest 5%. According to the Joint Committee on Taxation, the goal of …
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The new Netflix movie, “I Care a Lot,” is truly terrifying. Like many thrillers, this movie begins with a relatable premise and a relatable fear. In this case, it is the fear of dependence and exploitation. The film builds on those fears until our very worst nightmares are playing out before our eyes. Unbeknownst to …
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Multiple news outlets have reported that a secret Will of the late broadcast legend, Larry King, has been found. According to the reports, this secret Will is handwritten and states: 10/17/19 This is my Last Will and Testament. It should replace all previous writings in the event of my death, any day after the above …
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Britney Spears has been making headlines lately, unfortunately not for her music but for her conservatorship.  In 2008 Ms. Spears’ father was appointed conservator for her personal and financial decisions.  In 2019 a professional fiduciary was appointed to take over Mr. Spears role as co-conservator while Mr. Spears dealt with reported health issues. According to …
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On December 15, 2020, Governor Andrew Cuomo signed long-awaited changes to the New York State Power of Attorney law. The changes are intended to make the power of attorney easier to use, provide a framework for acceptance or rejection of the power of attorney and clarify the power and obligations of an agent. Your existing …
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Spending time with family is always important, especially during the holiday season. The holidays are different this year, due to the pandemic, and spending time with loved ones in skilled nursing facilities requires additional planning. In response to recent spikes in Covid-19 cases in skilled nursing facilities, the New York Department of Health in November …
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The election is only weeks away, and with it is likely to come significant changes to the tax code. Many economists anticipate that, regardless of the outcome, there will likely be tax increases to reduce the federal deficit, which now stands at over $3 trillion. Since those changes could take effect as early as January …
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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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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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