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September 2018 Archives

Trusts for pets may sometimes face tax liability

Many of us are animal lovers and non-human companions come in a lot of shapes and sizes. As we have noted in another section of our site, millions of New Yorkers have pets they love as much as (or perhaps more than) family. Understandably, it's not unusual for pets to be named as beneficiaries of estate plans, but unless it's done correctly, legal issues can arise.

Tim Conway's Dementia Leads To Legal Battles Among Family Members -- Don't Let This Happen To You

The family of Tim Conway--co-star of the Carol Burnett Show--has recently announced that he is suffering from dementia. Progression of the disease is advanced. Conway is no longer able to take care of his own daily needs, and he is largely unresponsive.

Understanding government's 5-year look-back rule

Ensuring appropriate medical care for a loved one in old age can be a challenge. Health insurance only covers so much. Estate planning may provide the means to ensure maintenance of needed care through Medicaid, the combined state and federal government program for those in financial need, without exposing hard-earned assets to possible government recovery. But it requires careful, strategic planning that might need to be started years ahead of time

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