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Toll free:800-768-1780

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July 2014 Archives

Death and Taxes in New York - Update

New York's estate tax scheme has remained the same for years, but that has just changed dramatically. The newly enacted state budget includes changes to estate and gift taxes that are designed to allow New York to "catch up" to the federal estate tax regime.

Estate planning in New York can benefit from before-death gifting

Estate planning, in the early stages, can be daunting, especially if you have assets that need to be divided among several loved ones. Even if you don't have a lot of money, you still need an estate plan. The truth is that if you own a home or have any real or intangible assets you need to talk to a professional about an estate plan. It is simply financial planning for the future.

Estate planning tips for New York residents

As more equality has been achieved in New York and across the United States, the role that women play in estate planning has also shifted. While men used to bring in the majority of the wealth in a marriage, that has been changing, and studies show that just over half of women who get married have wealth or assets that are at least equal to – if not greater than – the wealth of the men that they marry. A full third of those women are considered to be the primary earners for their families.

Wills and estate planning: Reducing the risk of family infighting

Sometimes, receiving an inheritance is not as easy and straightforward as it appears. Estate taxes, both state and federal can undermine the intentions behind wills and leave beneficiaries with much smaller inheritances than they thought they would receive. Also, fighting among heirs can escalate into legal battles as the New York court system tries to figure out a resolution that is fair.

Long term care planning is more expensive than many assume

A new survey that was just conducted shows that many Americans, in Rochester and elsewhere, do not have nearly the amount of money that it would take them to pay for a nursing home. In fact, the studied showed that a full 40 percent have not yet put anything in their savings for this type of care, and more than half of the country's population thinks that nursing home care is cheaper than it is in reality.

Naming your executor a good first step in estate planning

Estate planning can bring a sense of peace to a situation that can be emotionally upsetting to you and your loved ones. Making sure that your finances are taken care of so that if something should happen, it can provide both you and your family a firm foundation for finances and for medical care.

Sterlings to fight over estate administration & probate

A probate trial is slated to begin in the case of the two Sterlings -- the owners of the Los Angeles Clippers team -- after it was determined that Donald Sterling's mental capacity is acute enough to continue with the proceeding. Like many New York residents, the couple is having difficulty settling issues related to estate administration & probate, such as the execution of a trust. In this instance, the court must determine whether it was appropriate for the woman, Shelly, to sell the team after Donald chose to revoke his trust agreement.

  • I wanted to write to say how pleased my wife and I were at your professional handling of our estate planning and preparation of new wills. We were put at ease by your visit to our home for an interview and were pleased that you listened to us and captured the things that we felt were important.

    --Robert and Christine Simonson, Fairport
  • In order to finalize the documents we came to your office and were greeted in a very professional manner and we could not have asked for finer service. We left with copies of everything we needed and feel very confident our needs have been met. Thanks again. We will surely recommend you should the opportunity arise.

    — Christine and Robert Simonson, Fairport
  • I have been working with Weinstein & Randisi for about two years now. Elizabeth Randisi, through a very thorough process, has helped my wife and me determine what is really important in our lives. Thus, we were able to draft a living will that reflected our most important values regarding our estate.

    --David and Ajia Cherry, Fairport
  • I would like to give a testimony for Elizabeth Randisi, an estate attorney with Weinstein & Randisi. Her knowledge of wills and estate planning was clearly demonstrated in her presentation to us. Realizing our need for a will, my husband and I went to see Elizabeth.

    --Kathy and Gary Gray, Webster
  • Filing for Medicaid is never an easy or fun process. However, working with the Weinstein & Randisi firm made the process simple and streamlined. We were able to obtain all files and records regarding Medicaid enrollment within a few days using specially prepared checklists and verbiage recommended by our assigned paralegal.

    --Ajia and David Cherry, Fairport
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Rochester, NY 14625

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