On behalf of Futterman & Lanza, LLP | Mar 27, 2018 | Estate Law And Asset Protection
Creating an estate plan can have its difficulties. After all, New York residents are expected to take every aspect of their lives into consideration and determine how they want their affairs handled after death. That is no simple task. Of course, even after going...
On behalf of Futterman & Lanza, LLP | Mar 23, 2018 | Income, Tax, Trust
The IRS recently enacted revenue procedure 2016-55 which updates rules in the tax code that are regularly adjusted due to inflation. Among the changes includes the tax brackets for estate and trust taxable income for 2017. Important note – estates and trusts pay...
On behalf of Futterman & Lanza, LLP | Mar 22, 2018 | Advance Health Care Directives
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...
On behalf of Futterman & Lanza, LLP | Mar 20, 2018 | Medicaid Planning
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...
On behalf of Futterman & Lanza, LLP | Mar 14, 2018 | Estate Law And Asset Protection
Some New York residents may not feel that planning for any sort of event is a strong point of theirs. As a result, they may shy away from attempting to create an estate plan because they do not know where to start or what to include. However, avoiding estate...
On behalf of Futterman & Lanza, LLP | Mar 11, 2018 | Blog
One thing you know too well is that you can’t predict the future. Your life may have turned out very different from the way you imagined or planned, and there is no reason to expect your remaining years won’t have their own surprises. Some of those...
On behalf of Futterman & Lanza, LLP | Mar 9, 2018 | Medicaid Planning For Nursing Home And Home Health Care Expenses
When the time comes for a loved one to enter a nursing home facility, it can be a difficult transition for everyone involved. There may be numerous concerns to consider, such as ensuring that the individual will receive the proper care. Of course, financial aspects...
On behalf of Futterman & Lanza, LLP | Mar 2, 2018 | Elder Law
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...
On behalf of Futterman & Lanza, LLP | Mar 2, 2018 | Advance Health Care Directives
It is not unusual for individuals to want others to understand how they would personally handle certain situations. However, there may come a time when parties are not able to effectively communicate their wishes. When it comes to personal care, not having...
