Posts Tagged ‘trusts’

Are you unsatisfied with an existing trust? Were there mistakes made in the trust? Have circumstances changed? Under New York law, an authorized trustee with unlimited discretion over principal in any trust or an authorized trustee with the power to invade trust principal but without unlimited discretion may appoint the principal into another trust for […]

New Rules For Trustees In New York

September 6th, 2013 by David Goldfarb

On September 4, 2001, Governor Pataki signed into law 2001 N.Y. Laws 243, which made substantial changes to the Estates Powers and Trusts Law. The two most important changes to the EPTL are the powers to make adjustments between principal and income, and the ability to compute income using a “unitrust” computation. Power to Adjust. […]

Use of Trusts in Medicaid Planning in New York

September 6th, 2013 by David Goldfarb

The use of trusts in Medicaid planning raises a number of issues. The two most important are: (1) How will the transfer of assets into the trust be treated? And (2) How will the assets in the trust and the income from the trust be treated by Medicaid? In order to fully answer these questions […]