It’s here! Small Business Saturday: November 25th

It’s here! Small Business Saturday: November 25th

This Saturday, November 25th is Small Business Saturday!

This event takes place the Saturday after Thanksgiving as a way to help boost awareness and sales for small businesses between Black Friday and Cyber Monday, and we encourage you to shop local!

Grimaldi & Yeung LLP appreciates all of our clients and for entrusting us with their estate and long term planning needs.

If you are a small business owner, we support you and wish you much success – you keep our communities strong!

If you should need any further assistance in your estate plan, please do not hesitate to call our office anytime: (718) 238-6960.

We wish you a very happy and healthy holiday season!

Please visit our website for information on Elder Law and Estate Planning: www.gylawny.com 

GRIMALDI & YEUNG LLP
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.

A Partner’s Advice to Young Lawyers

A Partner’s Advice to Young Lawyers

On Monday, October 31st, Joanne Seminara participated in the Brooklyn Women’s Bar Association’s (BWBA) Young Lawyers Committee first-ever speed networking event.

The event started off with a presentation where panelists, including Joanne, offered advice to young lawyers.  After, the panelists broke into groups where they able to talk to the attendees on a smaller scale.  The panelists were a mix of lawyers working in different sized firms and legal fields.

One piece of advice that Joanne gave to the attendees applies not just to the legal field but to everyday life.  Joanne said, “If other people are underestimating you, you can use that to your advantage.  I remember an early case where I was up against a really experienced attorney who was being rude and belligerent.  But I won the case because I stayed in the moment, didn’t get nervous and I was prepared.  You can best someone who is underestimating you by always being prepared.”

Please visit our website for information on Elder Law and Estate Planning: www.gylawny.com 

GRIMALDI & YEUNG LLP
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.

Grimaldi & Yeung LLP invites you to our upcoming complimentary seminars

Grimaldi & Yeung LLP invites you to our upcoming complimentary seminars

Please join us for two complimentary seminars:

NOVEMBER 28TH BREAKFAST SEMINAR

5@55 – The 5 Essential Legal Documents You Need by Age 55 – Will, Health Care Proxy, Living Will, Power of Attorney, Digital Diary & more…
Presented by: Joanne Seminara, Esq.

When: Tuesday, November 28, 2017  8:30 AM to 10:30 AM
Where: The Bridgeview Diner 9011 3rd Avenue Brooklyn, NY 11209
Complimentary Breakfast
MUST RSVP by November 23rd to mtrinos@gylawny.com or (718) 238-6960
——————————————————-
DECEMBER 7TH EVENING SEMINAR

Tax Planning and End of Year Gifting
Presented by: Judith D. Grimaldi, Esq. & Pauline Yeung-Ha, Esq.

When: Thursday, December 7, 2017  6:30 PM to 9:30 PM
Where: Cebu Restaurant   8801 3rd Avenue  Brooklyn, NY 11209
Light Refreshments will be served
MUST RSVP by December 1st to mcoppola@gylawny.com or (718) 238-6960

Tax bill could end to the Medical Expense Deduction! Let’s save it…

Tax bill could end to the Medical Expense Deduction! Let’s save it…

Federal Tax Change Update: Proposed Elimination of Medical Expense Deduction

Ending the Medical Expense Deduction Would Harm Many Individuals Paying the High Cost of Long-term Services and Support. On Thursday, October 3rd, House Republicans released a tax bill that proposes to end the Medicaid Expense Deduction.

WHAT WOULD HAPPEN?

How Does the Medical Expense Deduction Help Individuals with Long-term Services and Support (LTSS)?

Currently, the federal tax code allows deduction of “qualified long-term care expenses” for people who are “chronically ill,” those unable to perform two or more “Activities of Daily Living” without assistance, or who have a “severe cognitive impairment” such as Alzheimer’s disease. These expenses are usually catastrophic, requiring many Americans to spend large portions of their income and to liquidate resources.

The Medical Expense Deduction For Individuals with LTSS

This applies only to those expenses above 10% of Adjusted Gross Income and when a taxpayer itemizes their deduction. “Chronically ill individuals” can use this provision.  If Congress ends the Medical Expense Deduction, many Americans paying for Long-Term Services and Supports (LTSS) will face the double cost of both chronic long term care and federal income tax.

Impact of Ending the Medical Expense Deduction may include:

  • Eviction From a Care Facility: Without the deduction, individuals paying privately for LTSS may not have the funds to pay their tax liability and the nursing facility, leading to eviction from the facility.
  • Uncollectible Tax From Some Medicaid LTSS Populations: Individuals on Medicaid must contribute a substantial portion of their income to Medicaid as part of the “spend down program”.  They will not have any funds to pay this new tax liability.
  • Hurts Family Caregivers: Children can also use this deduction if they pay for more than half of a  parent’s care. Eliminating this deduction will negatively impact a child paying for a chronically-ill parents needs.
  • Increased Reliance of Government Programs: Many middle- and working-class individuals “spend-down” their resources to qualify for Medicaid. Without a tax subsidy, the eligibility process will be faster and will place a larger burden on an already stressed federal/state Medicaid system.

WHAT CAN YOU DO?

  1. Write to us and tell us how this tax proposal will impact your family’s/client’s long term care plans; how it will affect your family’s financial well being, and any other concerns that you may have. Grimaldi and Yeung will be sending a packet to the congressional leaders drafting this legislation and we would like to include your comments and concerns.
  2. Write directly to your congressional representatives. For information on who your representative is, please click here.

Download PDF

If you want to continue to receive information like this about aging services and advocacy, please let us know by clicking here to be added to our mailing list.

GRIMALDI & YEUNG LLP
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.

November 8: Enjoy a special evening for those caring for a loved one

November 8: Enjoy a special evening for those caring for a loved one

Kick off the holiday season by taking some time for yourself. Join us for a special evening….

“Snack & Relax”: Nutrition & Yoga
Wednesday, November 8

WHEN & WHERE:

5:30 “Stuff the Bird, Not Yourself”
Tips for holiday eating with tasting
Led by Dominique Raymond

6:15 Restorative Yoga
Come as you are and relax with meditative movement.
Led by Maria Petschnig

At New York Memory Center
199 14th Street, Brooklyn, NY 11215

between 4th and 5th Avenues in Park Slope.
Onsite respite provided.

Click to download invitation

RSVP TO: 
Megan Christ, LMSW, Caregiver Social Worker
Family Resource Program
New York Memory Center
718-499-7701 or 708-677-5637
MChrist@NYMemorycenter.org

Please visit our website for information on Elder Law and Estate Planning: www.gylawny.com 

GRIMALDI & YEUNG LLP
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.