A new tool can help gun owners and family members plan ahead for safe firearm use and transfers in the event of disability or death: The Firearm Life Plan, created by researchers at the University of Colorado and the Rocky Mountain Regional VA Medical Center in Denver. This facilitates advance care planning for guns — a […]
New York estate planning attorney, Robert Friedman discusses NY health care proxies, living wills, MOLSTS & DNRS in this webinar.
A competent adult may revoke a New York health care proxy by: Notifying the agent or a health care provider orally or in writing or by any other act evidencing a specific intent to revoke the proxy; Execution by the principal of a subsequent health care proxy; or Divorce or legal separation of the principal […]
After a New York executive order (EO) temporarily allowed remote online notarizations as an emergency measure during the Covid 19 pandemic, a new state law permanently legalizes it. The EO, which expired on June 24, 2021, allowed notaries in New York to sign documents using audio-video technology, instead of signing and notarizing documents in person […]
The annual exclusion on the federal gift tax will increase to $16,000 in 2022 from 2018 to 2021 the exclusion was $15,000. The general rule is that any gift is a taxable gift, except for: Gifts that is not more than the annual exclusion for the calendar year. Tuition or medical expenses you pay for […]
The New York power of attorney law (POA) allows you to designate an agent to manage your financial affairs. It avoids the need for time-consuming and expensive guardianship proceedings when a person becomes incapacitated. The current power of attorney form can be complex and difficult to use. The new POA law, effective June 13, 2021, amends […]
To preserve your home from the devastating costs of nursing home care, you can transfer it to your children with either a life estate deed or a deed to an irrevocable living trust. With both the NY life estate deed and the irrevocable living trust : You will avoid probate. You can preserve your home […]