Entries tagged: estate planning

College Kids Are Adults: Take Care of These Documents Before Heading to Campus

By: Martin Glass, Esq.

Posted: September 21st, 2018

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The summer before my oldest went off to college, we all went for an orientation weekend. While there, he went off and did his thing and my wife and I went off and did ours. In one of our parent orientation seminars we were reminded that, now that our son was 18, he is officially […]

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The New Tax Law and Your Estate Planning

By: Martin Glass, Esq.

Posted: February 19th, 2018

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Have you heard? There has been a major change in the Federal Tax Code as of January 1, 2018.  But what does it mean as far as estate planning goes? The only real change in this regard was that the exemption for the Federal Uniform Gift and Estate Tax approximately doubled from $5,490,000 to $11,180,000 […]

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Everyone Needs a Will, But No One Wants to Do It

By: Martin Glass, Esq.

Posted: January 22nd, 2018

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I think this is something that I’ve known even before I started practicing as an Estate Planning attorney. Matter of fact, it probably predates my practice by decades, if not centuries. What am I talking about? I’m talking about the tendency to hesitate (if not complete avoid) writing a Will. Both in my practice and […]

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Can You Control What Happens to Your Remains After You Die?

By: Martin Glass, Esq.

Posted: December 12th, 2017

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The answer is “sort of.”  How’s that for an attorney’s response?   I say that because you can’t really control anything from the grave.  The best that you can do is try to pre-plan. There are a couple of things that you can do.  The first is to actually do a pre-plan or a pre-need, as […]

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New York’s Family Health Care Decisions Act

By: Martin Glass, Esq.

Posted: October 27th, 2017

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Let me say right up front that the best thing you can do when it comes to medical decision-making is execute a Health Care Proxy appointing an agent.  This agent can make your medical decisions if you are unable. That being said, if you didn’t appoint anyone, in 2010 New York enacted the Family Health […]

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Review and Revise Your Revocable Trusts

By: Martin Glass, Esq.

Posted: September 26th, 2017

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I’ve been practicing elder law and estate planning for about 20 years now.  Many of the revocable trusts dating back to that time were created for estate tax reasons.  But with changes in tax laws, those old trust protections can create new problems today. The tax issues that my clients feared in the 1990s were […]

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Should You Loan Your Children Money?

By: Martin Glass, Esq.

Posted: July 28th, 2017

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I’m amazed at how many times clients tell me that they loaned money to one of their children and now they want to somehow add that into their estate plan.  I ask them if it was a loan or a gift.  They of course say that it was a loan, but have absolutely no paperwork […]

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Secondary Reasons to Protect Your Assets

By: Martin Glass, Esq.

Posted: April 26th, 2017

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In past articles I’ve discussed some key reasons to try to protect your assets – namely, protection from the cost of estate taxes and long-term care.  However, there are other less widespread but nevertheless important events and situations in which you need to try to protect your assets.  These include bankruptcy, litigation, and divorce. Attorneys […]

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Do You Really Need A Revocable Trust?

By: Martin Glass, Esq.

Posted: February 25th, 2017

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    For many years now I’ve heard many attorneys tout the virtues of revocable or “living” trusts over Wills.  But, with the added expense, is the trust really necessary?  In many cases, no!  Now don’t get me wrong, there are many times when a revocable trust is the way to go, but there should […]

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Estate Planning and Estate Tax Forecast

By: Martin Glass, Esq.

Posted: November 28th, 2016

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Well, the election has come and gone.  What does that mean in terms of estate planning and estate tax? As a quick review, the current federal estate tax exemption is $5.45 million and is scheduled to increase to $5.49 million as of January 1, 2017.  Each year it goes up a bit as it’s indexed […]

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