On behalf of Weinstein & Randisi | Jun 4, 2020 | blog, Trusts
The IRS has determined that estates and nongrantor trusts in New York and around the country are now able to deduct certain expenses that are no longer considered miscellaneous deductions. Regulations have been released that offer clarity on the new rules and...
On behalf of Weinstein & Randisi | Feb 11, 2020 | Estate Planning, Trusts, Uncategorized
An owner’s business is their life’s work. That work deserves careful planning to keep it intact for the family members who potentially own and run that business. As an owner, you want to find the most risk-averse strategy for transferring your business to your family....
On behalf of Weinstein & Randisi | Jan 30, 2020 | Trusts
When forming a trust, many people opt for a revocable arrangement. This means that you can alter or dissolve the trust during your lifetime. An irrevocable trust doesn’t have this advantage. But it comes with a different set of benefits that makes it worth...
On behalf of Weinstein & Randisi | Nov 18, 2019 | Long-Term Care Planning, Trusts
To qualify for Medicaid coverage of long-term care in New York, you cannot have more than $15,450 in assets. But with nursing home costs as high as $6,000 to $7,000 a month, you may need Medicaid benefits to afford your care. If you want to qualify for Medicaid...
On behalf of Weinstein & Randisi | May 30, 2019 | Trusts
Parents of young children usually have different estate planning considerations than parents of adult children have. One of those considerations should be who to appoint as the guardian of minor children in case both parents unexpectedly pass away. However, a less...
On behalf of Weinstein & Randisi | Apr 30, 2016 | Trusts
Trusts are arguably one of the most useful and versatile documents a person can add to an estate plan. They offer creative solutions to money management while offering efficient ways to provide for one’s heirs. Most New York residents have heard a great deal...
On behalf of Weinstein & Randisi | Mar 5, 2016 | Trusts
All parents worry about the long-term health, safety and wellbeing of their children. However, parents of children with special needs face challenges the rest of us do not. Not only must these parents care for their special needs family members far longer than parents...
On behalf of Weinstein & Randisi | Feb 24, 2016 | Trusts
A trust document allows you to spell out how you want the property contained inside the trust to be distributed to beneficiaries. This article will discuss the various essential components of a trust that are required for its creation. First, you need to have an...
On behalf of Weinstein & Randisi | Feb 20, 2016 | Trusts
When a New York resident decides to create a trust, one of the most important decisions they must make is who will serve as trust administrator. It is crucial to think about this decision carefully before making the decision. After all, this person will be responsible...
On behalf of Weinstein & Randisi | Jan 20, 2016 | Trusts
The term “living trust” has fallen by the wayside in recent years, but this type of estate planning document is still relevant. What is a living trust? It is a type of trust you establish during your lifetime instead of a will or other legal document that...
