Featured Articles

If you earn a living and consider planning ahead for retirement, you have likely heard the phrases “defined benefit plan” and “defined contribution plan.” However, while many people may see these terms, they may not fully understand the differences between these retirement income programs, even if they are enrolled in one type of plan. Make […]

The number of aging individuals of Latin American descent in New York City is increasing, and it is not expected to stop growing anytime soon. The U.S. Department of Health and Human Services Administration on Aging recently reported there were about 3.6 million Latin American people over the age of 65 in the United States, […]

Know the Medicare Deductibles and Premiums for 2019

January 24th, 2019 by David Goldfarb

The coming of the New Year means many things, including making resolutions, starting a new tax year, and new rates for Medicare premiums and deductibles, as announced by the federal government. Medicare benefits help many people cover the costs of long-term care and other medical treatment. However, these benefits do not always come without out-of-pocket […]

Elder Law Concerns as Alzheimer’s Rate Steadily Rises

January 17th, 2019 by David Goldfarb

According to the Centers for Disease Control and Prevention (CDC), Alzheimer’s disease is currently the fifth-leading cause of death in the United States for individuals age 65 and older. About 5 million people in the U.S. live with Alzheimer’s, which is about 1.6 percent of our country’s overall population. However, a new study shows that […]

Second Marriage Planning

January 10th, 2019 by David Goldfarb

People who go through a divorce often go on to remarry in the future, which can often result in a blended family. Blended families may include children from your previous relationship, children from your new spouse’s previous relationship, and/or children that you and your spouse have or adopt together. While beginning a new family dynamic […]

The Components of an Elder Law Estate Plan

December 28th, 2018 by David Goldfarb

Estate planning is a complicated matter, and there are certain considerations that arise when creating an estate plan for older adults. Below is some information about the basic components of an elder law estate plan. Every estate plan should be carefully tailored to an individual’s specific situation, so it’s important to talk to a New […]

What Is a Generation-Skipping Trust?

November 2nd, 2018 by David Goldfarb

A generation-skipping trust skips your children’s generation and instead provides for distributions directly to your grandchildren. Why does this help? Consider the following: You transfer your assets to your children and pay the estate tax if your estate is large enough to incur taxation. Your children then pass the assets onto their children and pay […]

When you think of a guardian of an incapacitated adult, you likely first think of an adult child or another close family member who will care for the adult. However, in some cases, a guardian may be a non-relative appointed by the courts. In many states, these are referred to as “professional guardians.” While New […]

Estate Planning Issues for Divorcing Spouses

July 6th, 2018 by David Goldfarb

There are many considerations when you and your spouse divorce. Divorce will divide your marital property and debts, determine custody schedules for your children, and much more. You should also always revisit your estate plan upon a divorce. While contacting an estate planning lawyer may be the last thing on your mind in this already […]

Medicaid provides healthcare for millions of New Yorkers, and constitutes one of the state’s most important benefits programs. However, the government also means tests Medicaid, so it has a spenddown for people who earn too much income and may exclude people who own too many assets. Many seniors find that they have trouble maintaining eligibility […]