Trusts & Estates


Top 10 Things to Know about Changes to NY’s Power of Attorney Law
December 21, 2020 | Wendy Hoey Sheinberg | Trusts & Estates
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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NY Updates Guidance for Visiting Loved Ones in Skilled Nursing Facilities
December 18, 2020 | Wendy Hoey Sheinberg | Stephanie R. Yafeh | Trusts & Estates | Health Services
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 Time to Plan for Tax Code Changes Is Now
October 19, 2020 | Jeffrey S. Greener | Wendy Hoey Sheinberg | Trusts & Estates
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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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 | 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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