04 Aug American Abroad: How to get a US Transfer Certificate
This week, Aaron Katsman of Lighthouse Capital and Ariel S. Rosenzveig, Esq. discuss the inheritance process for Americans living abroad with investments in the US....
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28 Jul Medicaid Asset Protection Trusts (MAPTs) in New York: How They Work
Posted at 14:34h in Medicaid and Asset Protection
Medicaid Asset Protection Trusts, also called Irrevocable “Income Only” Trusts or Medicaid Trusts, are used to help those who are getting older shield some of their assets and permit them to meet the eligibility requirements for Medicaid long-term care in New York. ...
20 Jul New York Power of Attorney – Frequently Asked Questions
Posted at 15:48h in Power of Attorney
In New York, an agent designated in a durable POA can only act on the principal’s behalf after he or she signs the power of attorney in front of two adult witnesses, and a notary public. The language included in the document must also meet certain statutory requirements....
06 Jul Does a Power of Attorney Expire?
Posted at 18:23h in Power of Attorney
In New York, an agent designated in a durable POA can only act on the principal’s behalf after he or she signs the power of attorney in front of two adult witnesses, and a notary public. The language included in the document must also meet certain statutory requirements....
12 Jun Penalty Relief Due to Reasonable Cause
You may qualify for relief from penalties if you made an effort to comply with the requirements of the law, but were unable to meet your tax obligations because of circumstances beyond your control — due to “reasonable cause.”...
01 Jun Spousal Refusal in New York Medicaid
Posted at 14:38h in Medicaid and Asset Protection
Spousal refusal is a legal Medicaid planning strategy in New York. Spousal refusal, also known as “just say no,” is when a non-applicant, or “community” spouse of a long-term care Medicaid applicant refuses to assist with the cost of long-term care for their spouse....
28 May What Are the Changes to the New York Power of Attorney Form?
Posted at 21:07h in Power of Attorney
Starting June 13, 2021, changes to the New York Power of Attorney (POA) form go into effect. Among these changes, discussed in detail here, is the major switch that the New York Statutory Short Form Power of Attorney no longer must contain the exact wording set forth within the law....
10 May Power of Attorney New York
Posted at 14:56h in Power of Attorney
A power of attorney (POA) is a legal document that provides a trusted individual (known as the agent or attorney-in-fact) with the authority to act for another person (the principal). ...
07 May What is the “Right of Survivorship”?
Posted at 13:20h in Estate Planning
If you own property along with someone else, there may be a "right of survivorship," where the surviving owner automatically takes ownership of the entire property when the other owner dies, by operation of law....
03 May What are the Types of Guardianship in New York State?
Posted at 14:58h in Guardianship
Guardianship is a legal arrangement where a judge gives an individual the legal right to make decisions for another person who’s unable to make decisions for themselves. ...
16 Apr FBAR & FATCA
The FBAR (Report of Foreign Bank and Financial Accounts) is a form that the Internal Revenue Service (IRS) requires U.S. taxpayers with certain foreign bank accounts to file, wherever they may live—at home or abroad (“expatriates” or “Expats”)....
09 Apr How Do I Request an IRS Penalty Abatement / Refund?
The IRS provides some relief options that a taxpayer can apply for to reduce or eliminate penalties and interest assessed....
04 Apr What is a Notice of Probate in New York?
Posted at 19:57h in Probate NY
Probate is a process conducted by the surrogate’s court in New York to authenticate a decedent’s (the person who died) last will and testament....
30 Mar New York Last Will and Testament Attorney
Posted at 15:07h in Last Will and Testament
It’s a common myth that only the rich need a will or estate planning. Whether you’re a millionaire or a regular Joe, you should have a last will and testament....
07 Dec Medicaid Look Back Period NY
Posted at 14:21h in Medicaid and Asset Protection
Under the new NY Medicaid look back rules, those who completed their asset protection efforts prior to that date have been grandfathered into the old community Medicaid rules, no matter when they actually apply for benefits. ...
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