On behalf of Futterman & Lanza, LLP | Jan 3, 2020 | Estate Planning
When people think of estate planning, they most often think of a last will that outlines the financial legacy they want to leave behind. There is no question that a last will is an important component of an estate plan, but it is far from the only document a...
On behalf of Futterman & Lanza, LLP | Dec 19, 2019 | Estate Planning
When most people think of seniors, they picture grandmas and grandpas bouncing their children’s children on their knees. This is a common reality for maybe most of New York’s elderly population. Still, it is not true for everyone. There are many seniors who either...
On behalf of Futterman & Lanza, LLP | Dec 19, 2019 | Estate Planning
For older women, and all other adults, having an estate plan set up is very beneficial for various reasons. Not only does a will or trust offer protection in terms of one’s estate and help ensure that assets are divided properly down the road, but it can give...
On behalf of Futterman & Lanza, LLP | Oct 23, 2017 | Estate Planning
In 2018, the IRS is increasing the annual exclusion from gift tax. In 2018, the first $15,000 of gifts to any person (other than gifts of future interests in property) are not included in the total amount of taxable gifts. More simply put, if you make a gift to a...
On behalf of Futterman & Lanza, LLP | Apr 1, 2016 | Estate Planning
Beneficiary designations, account titling (ownership arrangements), and traditional estate planning tools (trusts and last wills) work together to create a fully functioning estate plan. Another common mistake made with beneficiary designations and ownership...
On behalf of Futterman & Lanza, LLP | Mar 2, 2016 | Estate Planning
As discussed in the previous postings, the Health Insurance Portability and Accountability Act of 1996 (HIPAA), was enacted in 1996. It was created to assure that individuals’ health information is properly protected. The previous postings listed information...
On behalf of Futterman & Lanza, LLP | Dec 25, 2015 | Estate Planning
A question asked time and again is whether the house transferred into the Medicaid Asset Protection Trust can be sold. The answer is: YES. The next question is what happens? The following will attempt to answer this question. Sally of Smithtown, New York transferred...
On behalf of Futterman & Lanza, LLP | Dec 23, 2015 | Estate Planning
When discussing client’s Last Wills, I always discuss the possibility of a common disaster. I know it’s not pleasant, but it is a reality, and should be discussed. Why? Because you, the client, can, and should, have control over the disposition of your...
On behalf of Futterman & Lanza, LLP | Dec 4, 2015 | Estate Planning
An appointed health care agent stands in your shoes and makes important medical decisions for you with your doctors about your medical treatment and may even stop life sustaining measures if there is no hope of recovery. If you feel that this person is no longer the...
