Here or There: Which State Do You Call Home?
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Here or There: Which State Do You Call Home?

We have many clients who divide their time between New York and another state, often Florida. If you spend significant time in two different states, there may be a question as to where you actually reside. The question is more complicated than where you spend the most time — and the answer can really matter....

Revenue Ruling 2023-2 and Estate Planning
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Revenue Ruling 2023-2 and Estate Planning

  The IRS recently issued Revenue Ruling 2023-2, which has garnered a lot of media attention because of its implications on the treatment of assets that have been transferred into an irrevocable grantor trust. We have received calls from clients who are concerned that their careful estate planning has been undermined by this new ruling...

Impactful Medicaid Changes Postponed What to Expect in 2024
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Impactful Medicaid Changes Postponed What to Expect in 2024

Since the enactment of the 2020 NYS budget, advocates have been on the lookout for what are expected to be meaningful changes to the Medicaid program, from financial and medical eligibility, to how assessments are conducted. Fortunately, some of these critical transformations have been delayed and will likely not go into effect in 2024.   The...

Introducing Mental Health Law At Abrams Fensterman, LLP
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Introducing Mental Health Law At Abrams Fensterman, LLP

Mental Health law crosses into all areas of legal practice. We have a unique family-focused law practice which guides families through the complex landscape of legal issues that impact loved ones with serious mental illness a n d/or substance use issues. We employ both straight-line interventions as well as those which require the ability to...

Protecting Our Financial Privacy
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Protecting Our Financial Privacy

Did you know that financial institutions can share our personal and financial records? Did you know that credit reporting agencies can sell our credit report to credit card companies and others? Credit bureaus collect and profile data about each and every one of us in order to help businesses make decisions about those with whom...

Speaking with Your Adult Children About Your Retirement
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Speaking with Your Adult Children About Your Retirement

Seniors who have been looking forward to a change in lifestyle or a move upon retirement may want to think about how this change may impact their loved ones. A discussion about retirement may be uncomfortable for parents. Some do not discuss the details of their finances with their children while others share information freely...

Hidden Pitfalls Of Naming A Minor As An IRA Beneficiary
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Hidden Pitfalls Of Naming A Minor As An IRA Beneficiary

Naming someone as the beneficiary of your IRA or other retirement account can be a wonderful way to provide for a loved one after you have passed away. Often, the people we name as beneficiaries of our IRA accounts are our children and/or grandchildren. Prior to the enactment of the Secure Act (January 2020), this...

Estate Planning In A Digital Age
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Estate Planning In A Digital Age

As the use of technology takes over our daily lives, it becomes more and more important to plan for what happens with our digital assets after we become incapacitated or die. Who will have access to our online accounts? Who will have the authority to manage those accounts? How will our digital assets be distributed...

Making Sure Your Medicaid Budget Is Correct
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Making Sure Your Medicaid Budget Is Correct

In January 2023, the New York Medicaid program increased the amount of monthly income and resources that a Medicaid applicant or recipient may retain. An individual receiving Medicaid and residing at home now has a monthly Income allowance of up to $1,677.00. Couples on Medicaid and residing at home are entitled to keep a total...

Introducing Corporate & Securities Law at Abrams Fensterman, LLP
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Introducing Corporate & Securities Law at Abrams Fensterman, LLP

Abrams Fensterman’s corporate and securities practice provides a broad scope of legal and business services in areas that encompass the representation of public, private, and family-owned businesses, in succession planning, mergers, acquisitions, and other strategic transactions, as well as daily corporate governance matters.   Abrams Fensterman is well versed in representing issuers and investors in...