Blog

Advisory: Drastic Changes to the Estate and Gift Tax System – TIME IS OF THE ESSENCE

By: Louis W. Pierro, Esq.

September 28, 2021/by Tim Flynn

Elder Law

Louis W. Pierro Named “2022 Lawyer of the Year” for Elder Law

By: Pierro, Connor & Strauss Attorneys

Summary: Congratulations to our Founding Partner, Louis W. Pierro, for being named 2022 Lawyer of the Year for Elder Law in Albany, NY.

September 9, 2021/by Tim Flynn

Elder Law, Estate Planning

Pierro, Connor & Strauss Attorneys Named to 2021 Edition of Super Lawyers

By: Pierro, Connor & Strauss Attorneys

Summary: Congratulations to our Founding Partner, Louis W. Pierro, for being named a New York Super Lawyer for Elder Law and to Senior Associate Attorney, Frank Hemming III, for being selected as a New York Rising Star for Elder Law in the 2021 Edition of Super Lawyers.

August 23, 2021/by Tim Flynn

Uncategorized

Britney Spears Case Puts Renewed Focus on Guardianships and Less Restrictive Alternatives

By: Pierro, Connor & Strauss Attorneys

Summary: Britney Spears’s legal fight to wrest back control over her personal and financial affairs has flooded the issue of guardianship in Klieg lights. While a full guardianship may be necessary for many individuals who are incapable of managing their own affairs due to dementia or intellectual, developmental or mental health disabilities, the Spears case underlines the option of more limited alternatives.

July 30, 2021/by Tim Flynn

Estate Planning

New Power of Attorney Law Takes Effect June 13th in New York State

By: Louis W. Pierro and Peter J. Strauss, Esq.

Summary: A new law modifies the format, usefulness and enforceability of the current document by: 1. Eliminating the need for a separate statutory gifts rider, which had led to many problems regarding validity 2. Allowing for minor language or formatting variations from the official statutory form rather than declaring the entire document ineffective 3. Authorizing substantial fines on financial institution that fail to honor a valid power of attorney

June 11, 2021/by Tim Flynn

Estate Planning, Tax Planning

Senators Propose Sweeping Changes to the Taxation of Estates and Inherited Gains

By: Staff

Vermont senator Bernie Sanders has introduced legislation that would require more estates to pay estate tax and that raises the amounts they would pay. Another proposed law would eliminate the step-up in basis that inherited assets currently enjoy.

April 1, 2021/by Tim Flynn

Estate Planning, Planning

Four Tips on Creating a Special Needs Estate Plan

By: Michael W. Gadomski, Esq.

Public benefits enhance the quality of life for people with disabilities yet eligibility for SSI or Medicaid is based on the financial value of assets the persons possess. So what if parents or grandparents wish to set aside additional financial resources for a child or adult with a disability while maintaining their loved one’s eligibility for public assistance?

March 18, 2021/by Tim Flynn

Litigation

Biden Administration May Spell Changes to Estate Tax and Stepped-Up Basis Rule

By: Caryn B. Keppler, Esq.

A new administration usually means that tax code changes are coming. While it remains unclear exactly what tax changes President Biden’s administration will propose and what Congress will approve, two possibilities are that estate tax exemption will be reduced and the stepped-up basis on death will be eliminated. The first would affect only multi-millionaires, but the second could have an impact on more modest estates and their heirs.

February 25, 2021/by Darrin Williams

Long Term Healthcare, Medicaid

Harsh New Restrictions on NY Medicaid Home Care – Postponed

Favorable regulations to continue until July 2021

For many years, New York didn’t have a look-back period for Medicaid home care. That’s right, an applicant could give away all his or her assets and then apply for Medicaid community-based care the following month, without penalty.

February 8, 2021/by Paul Bowes

Asset Protection, Long Term Care, Medicaid

Medicaid’s Power to Recoup Benefits Paid: Estate Recovery and Liens

Federal law requires the state to attempt to recover the long-term care benefits from a Medicaid recipient’s estate after the individual’s death. Medicaid applicants and those considering Medicaid for long-term care benefits should be aware that if steps aren’t taken to protect the individual’s home before he or she applies for Medicaid, the home may need to be sold to settle a Medicaid claim upon the individual’s death.

January 29, 2021/by Paul Bowes

Advisory: Drastic Changes to the Estate and Gift Tax System – TIME IS OF THE ESSENCE

Louis W. Pierro Named “2022 Lawyer of the Year” for Elder Law

Pierro, Connor & Strauss Attorneys Named to 2021 Edition of Super Lawyers

Britney Spears Case Puts Renewed Focus on Guardianships and Less Restrictive Alternatives

New Power of Attorney Law Takes Effect June 13th in New York State

Senators Propose Sweeping Changes to the Taxation of Estates and Inherited Gains

Four Tips on Creating a Special Needs Estate Plan

Biden Administration May Spell Changes to Estate Tax and Stepped-Up Basis Rule

Harsh New Restrictions on NY Medicaid Home Care – Postponed

Medicaid’s Power to Recoup Benefits Paid: Estate Recovery and Liens

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