Can A Living Trust Include Spendthrift Protection from Mark Eghrari You don't have to worry about losing control of assets that you convey into a living trust. As the creator of the trust, you can act as the trustee and the beneficiary while you are alive. Learn more about a living trust include spendthrift protection in this presentation. …
Is There a New York State Estate Tax
Is There a New York State Estate Tax from Mark Eghrari There are some states in the union that impose state-level estate taxes, We practice in the state of New York, and there is an estate tax in our state. Learn more about New York State estate tax in this presentation. …
Will My Heirs Receive Their Inheritances
Will My Heirs Receive Thier Inheritances from Mark Eghrari The heirs have to wait out the process before they can receive their inheritances. Even if things run smoothly, as they often do, it will take close to a year. Learn more about will my heirs receive thier inheritances in this presentation. …
Long-Term Care Costs are Rising in Long Island
According to Newsday, long-term care costs are rising rapidly in Long Island. In an article published in the summer of 2015, Newsday explained the average bill for long-term care had increased 2.4 percent compared with the prior year. An annual Cost of Care study revealed that a resident of a Suffolk or Nassau nursing home who had a semiprivate room would pay an average of $155,125 over the course of the year for the nursing home care. This is significantly higher than the national average …
What Is An Irrevocable Trust
What Is An Irrevocable Trust from Mark Eghrari When you create an irrevocable trust, you are surrendering incidents of ownership. As a result, you gain certain advantages. High net worth individuals must implement estate tax efficiency strategies. Learn more about an irrevocable trust in this presentation. …
When Would I Use a Special Needs Trust
When Would I Use a Special Needs Trust from Mark Eghrari A first party special needs trust can be created for a person with personal resources. A grandparent, a parent, or a legal guardian would create the trust. It would be funded with assets that were the property of the beneficiary with special needs. Learn more about special needs trust in this presentation. …
What Is the Difference Between a Guardianship And a Power of Attorney
What Is the Difference Between a Guardianship And a Power of Attorney from Mark Eghrari If you have a durable power of attorney in place, you would prevent a guardianship. With this document you name someone to handle your affairs in the event of your incapacitation. Learn more about the Difference between a guardianship and a Power of Attorney in this presentation. …
Will My Heirs Be Forced to Pay for My Inheritance Tax
Will My Heirs Be Forced to Pay for My Inheritance Tax from Mark Eghrari An inheritance tax is levied on asset transfers to each individual nonexempt inheritor.As one estate is being administered, multiple inheritors could be forced to pay an inheritance tax. Learn more about will my heirs be forced to pay for my inheritance tax in this presentation. …
Free Report: Why Would I Use an Irrevocable Trust in New York
Irrevocable trusts can facilitate eligibility for Medicaid coverage, and this is an important thing to think about, because most people will need living assistance. Medicare does not pay for long-term care, so you cannot look in that direction for support. Death taxes can take a heavy toll on your legacy if you are exposed, but fortunately, there are irrevocable trusts that can be used to provide estate tax efficiency. Topics covered in this report include: The Power of Revocation …
When Does a Power of Attorney Terminate
When Does a Power of Attorney Terminate from Mark Eghrari A general power of attorney is one variation With a general power of attorney, you give the attorney-in-fact the ability to act on your behalf in a sweeping fashion. Learn more about Power of Attorney terminate in this presentation. …
Free Report: What Is a New York Special Needs Trust
special needs are enrolled in the Medicaid program. This is a health insurance program that is jointly administered by the federal government along with each respective state government. Medicaid is a program that is intended for people with financial need. If you have resources to speak of, you cannot qualify for Medicaid coverage. Since many people with special needs are not in a position to earn much income, Medicaid is often going to be the health care insurance solution. Topics covered …
Long Islanders: Be Aware of Estate Tax Changes
We practice on Long Island, and there are a lot of financially successful people in our area. New Yorkers who have been able to accumulate a significant store of wealth should be aware of the estate taxes that can enter the picture. Estate tax laws are not necessarily static. When you originally talk to an estate planning attorney, your estate plan is going to be created based on the situation that existed at that time. Tax laws can change, and your personal financial position can improve …
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