Estate Planning

Estate Planning, Tax Advocacy / Dec 18, 2021

A tax transfer certificate is a document issued by the U.S. Internal Revenue Service certifying that a United States citizen who died while living abroad does not owe the federal government any estate taxes. Banks and financial services companies require an IRS tax transfer certificate before they release any of the assets held with the decedent named as an account owner....

Estate Planning, Last Will and Testament, Medicaid and Asset Protection / Dec 15, 2021

The law firm of Ely J. Rosenzveig and Associates has extensive experience creating estate plans that preserve the wealth that you accumulated through decades of effort for those whom you choose to benefit. Through the creation of appropriate legal instruments, the tax burden borne by your estate can be minimized instead of suffering from New York’s Estate Tax “Cliff.”...

Estate Planning, Last Will and Testament, Medicaid and Asset Protection / Dec 06, 2021

When people think of an estate plan, many first think of a Last Will and Testament, or Will. The Will is truly the hallmark document of any estate plan. This is a document that allows a testator (or, a person who has created a Will), to designate beneficiaries who will inherit property such as cash, real estate, personal property, and other assets such as bank and brokerage accounts, from their estate. ...

Estate Planning, Last Will and Testament / Nov 29, 2021

A special needs or supplemental needs trust (SNT) receives and holds assets for the exclusive benefit of a person who is disabled. The key feature of the SNT is that it is not considered a reachable or countable asset of the disabled beneficiary for the purposes of qualifying for means-tested government programs. Specifically, a SNT does not jeopardize its beneficiary’s  eligibility to receive public benefits like Supplemental Security Income (SSI), or Medicaid....

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