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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Why Do You Need an Elder Law Attorney?
Elder law attorneys provide various legal services to help seniors and their families navigate the challenges accompanying the aging process. This includes asset protection but extends beyond applications for Medicaid. An Elder Law attorney will also help coordinate legal planning to address such matters as needing guardianship, help with obtaining Social Security and Veteran’s benefits […]
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When is the Best Time to Use a Medicaid Asset Protection Trust?
Long-term care planning is a critical aspect of estate and financial planning, especially for individuals who may require Medicaid in the future. A Medicaid Asset Protection Trust (MAPT) is one of the most effective tools for protecting assets while ensuring Medicaid eligibility. If an individual owns substantial assets, setting up a MAPT early can prevent […]
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Washington Abandons Beneficial Ownership Reporting for U.S. Nationals and Companies
In a dramatic policy reversal, the U.S. Treasury has permanently suspended the Corporate Transparency Act (CTA) beneficial ownership reporting requirements for all U.S. citizens and domestic businesses. This decision significantly shifts corporate compliance regulations, impacting businesses nationwide. The CTA, enacted to enhance financial transparency and combat illicit finance, required most U.S. entities to report their […]
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Elder Lawyer Stephen J. Silverberg Speaks on Income-Only Trusts for Medicaid Eligibility
On Wednesday, December 4, Elder Law attorney Stephen J. Silverberg will speak before an audience of Elder Law and estate planning attorneys for a Continuing Legal Education program on the topic of drafting income-only trusts for Medicaid eligibility. Mr. Silverberg was invited to speak based on his extensive knowledge of Medicaid planning, the use of […]
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