You worked hard for the assets you've accumulated. The last thing you need is to lose your assets because you need medical treatment or long-term nursing care. Your estate plan can help to keep your assets protected as long as you take appropriate steps. Consider these tips as you work on getting your estate plan together.
There's an old Robert Burns poem, "To a Mouse," and you've surely heard a line or two from it. Most importantly, this one: "The best laid schemes of mice and men go often askew." Perhaps it's not the most cheerful line to keep in mind when drafting your last will and testament, but it's definitely a perspective to remember.
While it still remains to be seen which specific legislative policies the administration of President-elect Donald J. Trump will pursue in 2017, it is a relatively safe bet that a repeal of the federal estate tax will be included.
For most New Yorkers, having a Last Will and Testament is ubiquitous. As one ages, it is not unusual for the topic of a conversation to be whether one has signed their Last Will. Unfortunately, what is often missing from the conversation is that a Last Will only controls assets held by an individual in his or her name alone at the time of his or her death (not jointly held assets or assets with named beneficiaries), and that for the Last Will to be effective as to those assets, it must admitted to Probate in the Surrogate's Court of the County where the decedent resided.
Elder law attorney Anthony J. Enea, managing partner at Enea, Scanlan & Sirignano, LLP, has been named the Best Lawyers® 2017 Trusts and Estates "Lawyer of the Year" in White Plains. He has also been selected by his peers for inclusion in the 23rd edition of The Best Lawyers in America in the practice areas of Elder Law and Trusts and Estates.
According to the 2015-16 APPA National Pet Owners Survey by the American Pet Products Association, approximately 65% of all households in the United States have a pet. Along with pet ownership comes the responsibility of ensuring your companion animal's care and well-being - even if that extends beyond your lifetime. Westchester elder law attorney Anthony J. Enea of Enea, Scanlan & Sirignano, LLP in White Plains and Somers, N.Y. recently addressed the importance of protecting your pet's future and urges pet owners to consider including companions animals in their estate plan.
One only needs to observe life's daily interactions to conclude that pets have become an integral part of the lives of many. It is virtually impossible to go to a mall or airport without encountering someone who has a pet or two in tow. In Westchester County, the importance of pets has been readily apparent for over a century. For almost 120 years, Hartsdale has been the home of what is now recognized as the oldest pet cemetery in the nation. Thus, the question most pet owners' face is what steps they can undertake to ensure that their pet or other domestic animal is properly provided for in the event of their demise.
Westchester elder law attorney Anthony J. Enea of Enea, Scanlan & Sirignano, LLP in White Plains, N.Y. recently addressed estate and elder law issues affecting property owners at the New York State Bar Association's (NYSBA) 2016 Senior Lawyers Section Annual Meeting. With millions of baby boomers coming of age, Mr. Enea urges seniors to take a proactive role in planning for the future.
At one time or another, the request to borrow money has been made to many parents and grandparents by their adult children, grandchildren and other loved ones. However, in most instances parents and grandparents give to their families without properly documenting the transaction and its terms. Unfortunately, the lack of proper documentation may create unintended consequences and complexities, especially if long term care services and Medicaid are later needed.