SECURE Act
Dec 27, 2019Question: I recently heard that the Secure Act passed and that it may affect how my retirement accounts. What changes should I expect and do I need to adjust my estate plan? Answer: Yes, the Setting E...
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Kimberly Ann Trueman's Legal Guides (30)
Mount Sinai, NY
Elder law Lawyer at Mount Sinai, NY
Practice Areas: Elder Law, Estate Planning ... +8 more
Gifting to Minors
Dec 04, 2019Question: I plan to make large gifts to my children and grandchildren before the year is over. I have two daughters, and they each have two children. All of my grandchildren are under the age of 18. O...
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May 18, 2018Adding a joint owner on bank accounts does not protect them for Medicaid purposes and neither does designating them as a beneficiary. "In trust for" accounts are a misnomer. When an account states tha...
See Full GuideGrantor Trust Rules
Mar 23, 2018The typical Medicaid trust is a grantor trust for income and estate tax purposes. The grantor trust rules came about after high earners tried to lower their income tax consequence by scattering their ...
See Full GuidePutting Your Property in Your Children’s Names
Mar 02, 2018lder Law attorneys hear this question constantly. Typically, once people reach a certain age there is an invisible pressure to transfer assets out of one’s name and into their children’s. Some people ...
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Feb 05, 2018The answer is…..it depends. Revocable Trusts The first question is whether or not a trust can legally be revoked. If the trust is a revocable trust, then you as the grantor can revoke it at any time, ...
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Dec 15, 2017I put my house in an irrevocable trust two years ago to protect it in case I need nursing home care in the future. I now want to sell the house and use the proceeds from the sale to buy a condo. Can m...
See Full GuideDiscussing Your Estate Plan Over the Holidays
Dec 01, 2017Congratulations on completing your estate plan! Now comes the fun part of sharing your wishes with your children. While it may not be the most festive of conversations, it is important that you discus...
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Nov 17, 2017Yes; powers of attorney, indeed all estate planning documents, should be reviewed periodically. This is because even though your wishes may not have changed, the law may have changed. Power of Attorne...
See Full GuideEstate Planning for Young Couples
Oct 04, 2017People often put off estate planning far too long. But it is just as important for young families to do their planning as it is for older family members to do asset protection. I always recommend the ...
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