The IRS has added a rare spot of good news this summer. On July 8, the Internal Revenue Service released procedures extending the time when a surviving spouse can file an estate tax return to elect portability without a private letter ruling from two years after death to five years after death. Revenue Procedure 2022-32 […]
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SCOTUS Rules State Medicaid Programs Can Recoup a Larger Share of Personal Injury Settlements
Suppose you were injured due to another person’s negligence and your medical expenses were paid in whole or part by Medicaid. In that case, the state has a legal right to recover the funds it spends on your care from a personal injury settlement or award. In a case involving a Florida teen catastrophically injured […]
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Lack of Estate Planning Turns a Private Life into Public News: Chadwick Boseman
Chadwick Boseman, the actor known for performances in “Black Panther” and “Ma Rainey’s Black Bottom” was only 43 when he died. Despite knowing he was seriously ill from colon cancer, he did not have a will, so Boseman’s family was tasked with managing his estate in a public manner, the direct opposite of how he […]
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How to Grill the Perfect Steak
Annual Summer BBQ Recipe Buy the steak Choose steaks best for grilling. Examples are flank steak, T-bone, tenderloin, and skirt steaks. With skirt steaks, always ask for an “outside” cut – it is larger, has more meat, and is more tender. Inside skirt steaks are thinner and tougher. They are primarily used for fajitas. The […]
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IRS Actuarial Tables Updated, Retirees Can Keep More in their IRAs
It has been 20 years since the IRS last updated its actuarial tables – the ones used to indicate how much taxpayers must take from their retirement accounts. For the first time in many years, retirees can keep more money in their tax-deferred accounts starting at age 72. The new tables reflect a longer lifespan, […]
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Are You Ready for the SECURE Act’s Next Act? SECURE 2.0 Update
The latest version of SECURE Act 2.0, Securing a Strong Retirement Act of 2022, made it through the House of Representatives on March 29. Next is getting through the Senate, which is expected soon. Once it does, and after President Biden signs the bill into law, here’s what will change: Employees will be automatically enrolled […]
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Scott B. Silverberg Becomes Member of Estate Planning Council of Nassau County
We are very pleased to announce that Scott B. Silverberg has become a member of The Estate Planning Council of Nassau County, a member chapter of the National Association of Estate Planners and Councils (NAEPC). Membership in the Council is very selective. Candidates must be nominated, and endorsements provided by two members, then the Board […]
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Why Did Decoration Day Become Memorial Day, and Why Does It Matter?
Every May, I find myself looking at the calendar and thinking about Decoration Day. Most of you know the last weekend in May as Memorial Day, and this year it’s likely you have plans to gather in person with family and friends at an outdoor event. You may have summer memories of parades with veterans, […]
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Can My Family Inherit My Season Tickets?
Getting season tickets is a long game for New Yorkers, and everyone knows someone who waited decades before getting them. I’ve had my New York Jets season tickets for many, many years, and hope to pass the tickets to my sons. But the sporting world has become more complicated than it was. Will professional sports […]
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MEDICAID ALERT: New Medicaid Community Care Look Back Rules Start October 1, 2022
If this sounds familiar, you’re right—recent years have seen many extensions of rules regarding Medicaid. But for New Yorkers, this most recent change to Medicaid Community Based Care is a result of a New York State’s 2022-2023 budget and not the pandemic. There has always been a five-year lookback period for Medicaid applicants seeking coverage […]
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