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Update: Here are the 2019 income tax rates for trusts and estates and the 2020 income tax rates for tusts and estates. The IRS recently enacted revenue procedure 2016-55 which updates rules in the tax code that are regularly adjusted due to inflation. Among the...
Deciding how to be cared for in the event of incapacitation can be difficult for any New York resident. There may be many facets to consider, such as priorities in one's life and how certain decisions may affect family. However, a living will can contain any...
Put Your Rental Home into a Corporation or LLC Putting Rental Home Into a LLC or S-Corp is Sound Medicaid Planning by Aaron E. Futterman, Esq. To qualify for Medicaid in New York, the Medicaid Regulations ("Regulations") provide that all income and resources actually...
Most irrevocable trusts created for the purpose of protecting assets from the costs of long term care (i.e., the nursing home) must file a Form 1041 (for IRS Federal filing purposes) and a Form IT-205 (for New York State filing purposes) only once - for the year of...
