Every so often there is a change in the Medicaid rules that makes life a little easier for older adults and their families. This is one of those moments. A recent federal rule change, now formally adopted by New York State, has eliminated a long-standing and often frustrating requirement in the Medicaid eligibility process. For […]
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What Estate Planning Attorneys Wish Clients Knew About AI
We live in a moment where artificial intelligence is woven into nearly every corner of daily life. People are using AI to plan vacations, write wedding vows, edit novels, brainstorm business ideas, and even redesign their homes. These tools are fast, friendly, and capable. It’s no surprise that many people wonder: If AI can do […]
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There’s Not Much Time Left, but You Can Still Make These Moves before December 31, 2025
Significant changes to the One Big Beautiful Bill Act (OBBBA) take effect on January 1, 2026. There’s little time, but if you act fast, you might benefit: Charitable giving tax rules are changing. Only taxpayers who itemize can deduct charitable gifts exceeding 0.5% of ADI. If you already know which organizations you want to support, […]
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Year-End Estate Planning Wrap-Up
As the year draws to a close, it’s worth taking a step back to assess the legal framework that governs how your assets will be managed during life and transferred at death. Many financial and tax-related decisions, including retirement account contributions, charitable gifts, and certain trust funding activities must be completed by December 31 to […]
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Jets Legend Nick Mangold and the Pizza Oven
I met Nick Mangold in 2018, when I was invited by the Jets to participate in an official NY Jets Tailgate Cookoff. I brought a pizza oven with me and my buffalo chicken pizza won first place against an outstanding seafood boil. Mangold was a great football player and a serious foodie. Here’s the video […]
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Open Enrollment Season is Here – What You Need to Know Right Now
It’s Medicare season, when the millions of Americans enrolled in Medicare plans are allowed to make changes to their plans. These opportunities are limited and this year presents some new challenges. Big Medicare insurance companies are dropping plans, trimming benefits and increasing deductibles. You’ll want to do the homework to make sure you’re getting the […]
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2025 Required Minimum Distribution Deadline is Near – What You Need to Know Right Now
This is the time of year to start planning for RMDs unless you are taking them automatically. If you haven’t taken an RMD in 2025 and don’t need funds to cover living expenses, you may want to wait until December. That’s because if your RMD covers your entire tax bill, you can avoid quarterly estimated […]
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What is the Retirement Rule of $1 More?
Some limits and deadlines have wiggle room, but IRS rules, especially those regarding retirement rules, aren’t among them. The “retirement rule of $1 more” refers to the costly situations created when an increase, even by as much as $1, can trigger tax consequences or increase Medicare costs. Want to avoid crossing this expensive line? Here’s […]
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Don’t Let Poor Estate Planning Ruin a Great Legacy – Jimmy Buffett’s Widow Battles Over $275 Million Estate
When Jimmy Buffett passed away in 2023, he left a legacy of a beach lifestyle where it’s always time for a margarita. But the same laid-back island vibes are in direct contrast to the battle now underway between his widow and a co-trustee. Jane Buffett and co-trustee Richard Mozenter filed lawsuits against each other. She […]
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New York State’s Estate Tax Cliff: How to Keep Your Estate on Solid Ground
New York State residents shouldn’t overlook a crucial and potentially costly component of their estate planning: New York State’s estate tax cliff. If your estate falls within the $7 million to $14 million range, it is imperative to address this issue now—before it results in an unnecessary and substantial tax burden on your heirs. Understanding […]
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