Divorce can be an interpersonally challenging life-change, and complex legal matter. With two Department of Defense (“DoD”) appropriations bills currently before the House and Senate, the rules to pension fund distribution to U.S. federal Air Force, Army, Navy or Military Reserve ex-spouses at time of divorce will be revised in…
Probate can be a lengthy process if the heirs or beneficiaries of a decedent’s testamentary document disagree about the distribution of property and assets. An Order to Show Cause prepared by the Plaintiff’s attorney constitutes verified complaint, and is the initial hearing procedure of a contested will. Plaintiff testimony concerning…
Applicable Federal Rates (“AFRs”) increases signal an upswing in federal taxation of estate and gift transfers to beneficiaries in the immediate future. Internal Revenue Service (“IRS”) AFR regulation mandates tax accountability of gifts and estates, as well as installment sales and intra-family loans. The latest AFR rate hike will make…
New York estate owners can avoid probate with stipulation of transfer-on-death (“TOD”) designation of assets within their will or estate testamentary documents. The state presently prohibits TOD deeds for real estate and automobile registration transfer, yet properties held in joint tenancy, bank accounts, and other cash convertible assets like bonds…
Rules of required minimum distribution (“RMD”) within defined contribution plan retirement funds, are usually relatively little while a participant is still alive. Previously, the rules to RMD were less favorable depending on the terms and conditions of the plan, and form of distribution elected, as well as the relationship between…
A recent study suggests that people with moderate to severe anxiety in middle age may be more likely to develop dementia as they get older. The study based its conclusions off of data from four previously published studies that tracked a total of 30,000 individuals over a 10-year period and…
The $1.5 trillion tax bill passed last year will likely have far reaching consequences on millions of seniors across the country, some good and some bad. While only time will truly tell how things will shape out, there are a number of areas many tax lawyers and elder law attorneys…
High income retirees could see some of their Medicare premiums skyrocket up to 203 percent in 2018 due to shifts in the income brackets that are used to determine how much older Americans will pay for their Medicare Part B and Part D coverage. Those predictions come from an analysis…
As more nursing homes and assisted living facilities begin to shift toward a more pet friendly approach to help accommodate the emotional needs of their residents, seniors and their families should begin to examine the pros and cons of living with pets where facility rules permit. In addition to accounting…
The U.S. Department of Labor is expected to release new guidelines that will allow small businesses to band together to purchase insurance for their workers with “association health plans” that could end up disrupting healthcare markets. The once common association health plans were attractive to scam artists that took advantage…