A common plan among our married clients is to leave their property to their spouse, either outright or in trust - oft-referred to as the "I Love You" Will. Sometimes, love is lost and the couple divorces. We recommend our clients update their... Read More

By Peter K. Kelly | Leonore Abels in her Will provided that her residuary pass in trust for her husband Joel Abels and, in the alternative should he predecease her, all of her property be sold, except her house, and held by the trustee to maintain... Read More

The most important Elder Law decisions from around the country are summarized here. Each case is relevant to New Jersey as elder law often involves Medicaid, which is subject to "supposedly uniform" federal regulation as jointly funded and administered... Read More

Dear Liza: Does a person receiving a gift from a sibling in another country have to pay gift tax on that gift in the United States? In the United States, gifts are not considered ordinary income, so you don’t have to report them or pay income tax... Read More

With the economy struggling and financial markets hard-hit, the last thing that Americans want to worry about is their pension plans. Yet, the Government Accountability Office (GAO) is worried, and therefore Americans should be worried as well. In January... Read More

There are now more Americans age 65 and older than at any other time in U.S. history. According to a new Census Bureau report, there were 40.3 million people age 65 and older on April 1, 2010, up 5.3 percent from 35 million in 2010 (and just 3.1 million... Read More

By Honorable Jennifer Rivera Ulwick Unlike conservators, guardians do not handles finances, acting as conservators as they may have in the past when appointed as "guardian of the estate." Unless otherwise provided by the court, the guardian... Read More

By John G. Farinacci, Esq. In a rather unique ceremony at the Nassau County Surrogate’s Court on December 4, 2013, Surrogate Edward W. McCarty, III ordered and presided over the physical return of an ancient Assyrian artifact from the possession... Read More

A Real Simple magazine article discusses how adult children and their parents can have an open discussion about their concerns, and together face the challenges of aging. This discussion is often not an easy one to have; a 2001 AARP study revealed that... Read More

By Jennifer F. Hillman Pursuant to New York Surrogate Court Procedure Act ("SCPA") § 711, a fiduciary cannot remove property of an estate from New York without prior approval of the Court. A violation of this duty could lead to suspension... Read More

By Liza Weiman Hanks | Dear Liza: We live in Nebraska. I own a ranch with my brother. Part of it we inherited and a small part we purchased from family members. The total value of the ranch is $2.7 million. We have a buy sell agreement between us.... Read More

By John G. Farinacci, Esq. In New York Surrogate’s Court litigation, there are many unique discovery devices that would be foreign to an attorney that litigates primarily in State Supreme Court. An SCPA 2103 discovery proceeding is one example... Read More

There are several figures of interest to seniors and their families for 2012. They include long-term care spousal standards, annual gift tax exclusion rates, long-term care premium deductibility limits, and Social Security benefit changes. The... Read More

By John G. Farinacci, Esq. Ruskin Moscou Faltischek, P.C. We know that estate taxes are to be paid in the manner of a testator's choosing, but if the testator fails to make that choice, then estate taxes are "equitably apportioned among... Read More

Will the ridiculous gridlock in Washington that has a sledgehammer instead of scalpel being used to address the cancer of a bloated budget affect your world immediately? As a working adult or family, likely not, For seniors, the cuts could have a more... Read More