New York Estate Planning & Elder Law Blog

The Residential Property Condition Disclosure Act and Estate Planning: Lessons Learned from Rickard v. Coulimore

Published on: March 24, 2022 | by Ettinger Law Firm

In the recent case of Rickard v. Coulimore, the plaintiff purchased the subject residential real estate from a living trust. The plaintiff then initiated against the trust owners over damages connected to defects in the property that they had failed to disclose.

The Oklahoma Supreme granted certiorari to assess an interlocutory order to decide whether the transaction was excluded from the Residential Property Condition Disclosure Act. The court determined that the transaction represented a transfer by a fiduciary who was not an owner-occupant of the real estate in the court of a trust’s administration and that the transaction was exempt from the Act. As a result, the court affirmed partial summary judgment in regards to the inapplicability of the Act, and the case was remanded for additional proceedings.

The Role of the Residential Property Condition Disclosure Act

Estate Planning and Former Spouses

Published on: March 24, 2022 | by Ettinger Law Firm

Over half the marriages in the United States result in divorce. For many people, divorce ends up being one of the most difficult experiences in their life. As a result, when attorneys present a person with divorce paperwork, this individual often fails to consider every little detail of how it will impact their life and does not update their estate plan. Unfortunately, failing to update estate planning documents after divorce could lead to many undesirable complications

A Hypothetical Situation

Imagine, a couple who got married in 2005. The wife had one daughter from a previous marriage. Even though the husband never officially adopted the girl, he treated the girl as she were his daughter during the marriage. A joint trust even referred to the girl as the couple’s “only living child” and named the girl as a residuary beneficiary. These terms have substantial meaning under the law and not considering these statements after a divorce can create substantial challenges.

Updates Made to State Voting Laws for People with Limited Capacity

Published on: March 24, 2022 | by Ettinger Law Firm

Fewer rights are more fundamental than the right to vote in the United States. Unfortunately, many people take the right to vote for granted. People who face limited capacity or who are currently under guardianship, however, experience substantial challenges in regards to voting. Many states even restrict and some bar voting rights for individuals faced with limited capacity.

The Types of Voting Rights

State laws addressing the voting rights of individuals fall into three categories: states constitutional provisions addressing who can vote, states with voter registration laws, and states with guardianship laws. Many recent changes have occurred in states to incorporate more current language concerning disabilities as well as capacity and guardianship. Because state statutes are notoriously hard to revise, many of them are still outdated.

Dobson Highlights Challenges with Medicare Part D Medication Coverage

Published on: March 24, 2022 | by Ettinger Law Firm

On February 11, 2022, the appellate court for the 11th circuit reversed a decision by a lower court. The appellate court in Dobson v. Secretary of Health and Human Services held that Medicare must provide coverage for a beneficiary’s off-label use of a medication.

How the Case Arose

The case concerns a Florida man who communicated with the Center for Medicare Advocacy because the man’s Part D Medicare coverage declined dronabinol coverage. Dronabinol is a man-made type of cannabis that is known under the trade names of Marinol, Reduvo, and Syndros. The medication is used to stimulate appetite as well as to treat nausea and sleep apnea. The medication is approved by the FDA for the treatment of HIV/AIDS-related anorexia and nausea and vomiting caused by chemotherapy.

What to Consider Following the Increase in the Annual Gift Tax Exclusion

Published on: March 14, 2022 | by Ettinger Law Firm

In 2022, the annual exclusion for federal Gift Taxes was increased to $16,000 per individual annually. Even though a near-universal acceptance exists that gift-giving can play an important role in estate planning, a person should consider various issues before making gifts.

The way that gifts are made can have a substantial impact on beneficiaries. This is especially true if the party who receives a gift is below the age of 21. Direct gifts made to young people can have their own challenges which include exposure to creditors and limited control over how gifts are made. Consequently, it’s a wise idea in these situations to consider placing gifts in a trust.

The Danger Behind Direct Gifts

Crisis and Estate Planning Documents

Published on: March 14, 2022 | by Ettinger Law Firm

The 2020s have been filled with tension. First, in 2020, the Covid-19 pandemic emerged. Then, race tensions hit an all-time high following the death of George Floyd and several others. Now, the invasion of Ukraine has left many people in more difficult situations than ever before. All of these events are enough to make even the calmest person uneasy.

The most seasoned estate planning professionals are used to addressing two major sources of uneasiness with clients: death and taxation. Planning for these certain events will help to reduce the uneasiness that a person feels. While it’s impossible to control the future and the state of the world, people can engage in thorough estate planning and be fully prepared for any complications that might happen and impact their estate plans.

Estate planning frequently attempts to pass or minimize risk. Some of the most helpful risk-avoiding or risk-shifting techniques that people utilize in an estate planning environment include:

Demand for Estate Planning Increases As More Millennials Become Caregivers

Published on: March 14, 2022 | by Ettinger Law Firm

As the country enters a third year of living in a pandemic, estate planning is seeing an increase in millennials who are surpassing the baby boomer generation as the generation who performs the most caregiving for both children and aging parents.

Millennials are creating their own families, while simultaneously caring for their aging parents during a pandemic. This, in turn, is leading more caregivers to plan for the future. Even though millennials are taking responsibility for writing wills and creating trusts to establish families’ financial status, most adults in the United States lack an estate plan. Hopefully, by making digital estate planning as easy as possible, more people will create estate plans that achieve their wishes.

Key Findings from the Study

Geriatric Guidelines Suggest How to Improve Elderly Care

Published on: March 14, 2022 | by Ettinger Law Firm

The substantial growth of elderly adults in the United States leads to more emergency room visits and complications from injuries and diseases. To meet this challenge, the Geriatric Emergency Department Guidelines were published in 2014 and later received support from several large medical organizations including Emergency Nurses Association and the American Geriatrics Society.

The guidelines characterize the nuanced needs of older emergency department patients and current best practices to promote more cost-effective and patient-focused care. These recommendations require more staff as well as more resources.

What Researchers Discovered

What Should You Do After a Loved One Passes Away?

Published on: March 14, 2022 | by Ettinger Law Firm

When a person passes away, survivors almost always remember the need to take several important actions. Often, some of these actions are time-sensitive and must be performed within a narrow time window. Given the substantial emotional repercussion of losing a loved one, the process is often overwhelming and can even be difficult to navigate. To better prepare you for what happens after an elderly loved one passes away, this article reviews some important steps that you will likely need to take or at the very least consider taking.

Actions Immediately After a Loved One’s Death

Many people find themselves in shock immediately following a loved one’s death. During this period, it’s critical, however, to take some important steps, which include the following:

Hidden Estate Planning Advantage to This Year’s IRS Filing

Published on: March 10, 2022 | by Ettinger Law Firm

This year’s tax filing season has some hidden advantages. Amidst a backdrop of the Covid-19 pandemic and current tax laws, the Internal Revenue Service has predicted over 160 million Americans could start filing their federal tax returns at the end of January 2022. In regards to gift returns, this does not appear to be as nearly as problematic. The challenges primarily involve individual returns. Among the various tax strategies that clients have been using this year include under-the-radar trusts.

In 2021, donors could give up to $15,000 to another person like a friend or family member without this amount is subject to taxes. Each spouse in half of a married couple could utilize this limit to pass on assets to beneficiaries. Internal Revenue Service returns for many gifts over the threshold (As well as some under this threshold) are due on April 18, which is the same deadline that individual tax returns are due this year. Additionally, tax-payers can pursue an automatic six-month extension for both of these returns.

The Role of Annual Gifts