明星黑料

The grantor trust rules came about after high earners tried to lower their income tax consequence by scattering their income to various trusts over which they maintained control. By spreading their income out, the earners were subject to the lower tax brackets.

Do all Wills have to go through probate?

years ago, my mother signed a General Durable Power of Attorney and named me as Agent.聽 I was recently told that there is a possibility that the Power of Attorney may not cover all transactions.聽 Could that be true?

I read somewhere that the New York State Estate Tax Exemption was increasing again this year, could you explain this to me?

My mother passed away with $20,000 in credit card debt.聽As the Executor of her estate, am I liable for these bills?

While I am familiar with Last Wills and Testaments, I keep hearing my friends talk about completing an 鈥淓state Plan.鈥� What is typically included in an 鈥淓state Plan鈥� and do I need one?

Making end of life decisions are crucial components of any estate plan. As Elder Law attorneys, we deal with these issues every day. Some advance directives are signed in an attorney鈥檚 office and some are executed with a health care provider.

Advance directives are documents that are usually signed with an estate planning attorney while the client still has capacity and are meant to give direction as to how the client鈥檚 healthcare and financial decisions should be handled in case of incapacity. Advance directives traditionally include a health care proxy, living will, and durable power of attorney.

In practicing Elder Law, it is common for clients to come in to discuss applying for Medicaid to cover the cost of long term care for an ailing parent who has lost the mental capacity to make decisions for themselves. Before we even begin to discuss what transfers would need to be made to make the parent eligible for Medicaid, I ask if their parent has a power of attorney.

My friends used an online service to prepare their Wills. They signed them at in the presence of their neighbors. They said it was much less expensive than going to an attorney to have a Will prepared. I am planning to disinherit one of my children but I am hesitant to have my Will prepared by an online service. Can you give me some advice?