On December 15th, 2020, Governor Cuomo signed into law legislation substantially amending the New York General Obligations Law, which is the law that governs powers of attorney in New York.  Effective June 13th, 2021, the new law, among other things, modifies the form of a power of attorney.  The new form must be used beginning…

Congratulations to everyone headed off to college.  My favorite Animal House quote is when Belushi says “seven years of college down the drain”.  Although college should be stimulating from both an academic and social perspective, try not to be there for seven years.

The Perils and Pitfalls of Owning a Co-op

As many of you know, I practice as a tax accountant as well as an elder law and estate planning attorney.  This blog is an example of the interdisciplinary nature of my practice. On March 11, 2021, President Biden enacted the American Rescue Plan (“ARP”).  Oddly, certain provisions of the ARP relate back to 2020…

Dear Mr. Di Costanzo: Can my spouse access our jointly owned safe deposit box after my death? It is common practice in New York for banks to “seal” a safe deposit box upon the death of an owner.  Surprisingly, this practice applies even in situations where there are joint owners.  Many people who own safe…

Under New York State law, a spouse is considered a legally responsible relative which means that you are financially responsible for the support and care of your institutionalized spouse.  Absent any planning, you will likely be required to privately pay for the cost of the nursing home which could exceed $15,000 per month.  To minimize…

Essential Tips For Solo-Agers During Unprecedented Times

Are you a solo ager, or in some circles, an “elder orphan”?  A solo ager is typically defined as a single, childless baby-boomer.  Yet, a boomer may have children, but with whom there is no relationship, or in many cases, children who are simply pre-occupied with their own affairs.  While it is likely that you…

Whether you are grieving the death of a close loved one, or have a deep sense of loss from your daily routines being interrupted, Dr. Bob will show you how to regain your equanimity; by beginning to dissolve your grief. StressFreeNow.info

An inheritance can be easily dissipated if your child is a spendthrift, has bad habits or is involved with a divorce. A trust can ensure this doesn’t happen.

A good estate plan doesn’t end with the signing of your documents. there are many post-signing tasks that need to be completed and are often overlooked. Mr. Di Costanzo will share valuable tidbits that are necessary to complete your estate planning.

Thursday, August 27th, 2020, I continued discussing Governor Cuomo’s State Budget implementing a new 2 1/2 year look-back period for Medicaid home care services. As discussed in my blog, this is a drastic change for those seeking Medicaid eligibility to cover the cost of an aide at home. It also presents an immediate planning opportunity…

Sal discusses Governor Cuomo’s State Budget implementing a new 2 1/2 year look-back period for Medicaid home care services. As discussed in my blog, this is a drastic change for those seeking Medicaid eligibility to cover the cost of an aide at home. It also presents an immediate planning opportunity that should not be dismissed!

Raising the minimum wage by as little as 10 percent would significantly improve the safety and health of nursing home residents, according to new research.

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