Medicaid is a publicly funded health insurance program designed for people with low incomes and for adults over age 65, certified blind, or certified disabled individuals. It is jointly funded by the federal and state governments. As such, each state administers its own Medicaid program in accordance with federal requirements but with different eligibility rules …
As an estate planning attorney, I often have clients or their family members ask me about handwritten wills. Some of the questions, I have been asked have been: “My father left a signed piece of paper stating what he wanted to happen to his estate after he passed away; we can file this with the …
When creating an estate plan, parents typically want to treat their children equally. But for wealthy families whose loved ones are struggling with mental or behavioral health issues, a large inheritance may be more detrimental than helpful. How can parents leave an inheritance that will support their beneficiary rather than derail them? The Special Needs …
To view footnote, click on footnote number. Projects or activities that require approvals or permits from a New York State agency or local government are subject to an environmental impact assessment under the State Environmental Quality Review Act (SEQRA). SEQRA is not intended to be a barrier to the approval of a proposed action but …
Navigating the State Environmental Quality Review Process Read More »
For many people, it is not easy to think about the possibility of being incapacitated or in a terminal state. But if that were to happen, it is important that family members and loved ones know what your wishes are. Having your health care and end-of-life wishes documented and in place are not only important …
Overview – Income tax savings: College savings plans, known as 529 plans, derive from Internal Revenue Code Section 529 which provides income tax benefits for college savings. Investments in 529 plans grow tax-free, and withdrawals are not federally taxable. Any person (the account “custodian”) can open a 529 account for a beneficiary, so long as …
In 1971, when Stuart R. Shamberg established the law firm that was the first generation of today’s Hollis Laidlaw & Simon, it was a time of rapid growth and development in Westchester County. A former builder himself, Shamberg quickly became known for representing property owners of all types and sizes seeking to develop their properties. …
Representing Their Clients’ Vision and Protecting Their Property Rights Read More »
When an individual is named as an executor in a deceased loved one’s (decedent’s) last will and testament, there are many responsibilities that such individual must undertake. These responsibilities range from navigating the probate process in the Surrogate’s Court, collecting or marshalling any probate assets to forwarding the decedent’s mail, and paying the debts of …
Executors and Taxes: What Returns Need to be Filed? Read More »
Hollis Laidlaw & Simon’s guardianship team has decades of collective experience handling guardianship cases and unparalleled facility in the courtroom, yet they would much rather keep their clients out of the firm’s guardianship practice. With firsthand knowledge of the complicated and emotional process of establishing guardianship at trial and 20 years of experience structuring estate …
At the end of 2019, Congress passed a major piece of legislation impacting qualified retirement plans. This piece of legislation is referred to as the Secure Act. Among the Secure Act’s many provisions, the two most substantial changes were: (1) the age that retirement plan participants need to take distributions was pushed back from age …
More Potential Changes to Retirement Accounts: Secure Act 2.0 Read More »
