Grimaldi Yeung Law Group Blogs

How Much Tax Do You Pay On Inheritance?

How Much Tax Do You Pay On Inheritance?

"The death of a loved one is always a difficult time. The last thing most people want when they're grieving is to have to deal with the IRS and state tax officials." Unfortunately, unless the person you love has an estate plan and has spoken with you about it, the...

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Does A Revocable Trust Protect Assets?

Does A Revocable Trust Protect Assets?

Does my revocable trust protect assets from all long term care costs including nursing home and home care expenses? There are ways to protect assets, but a revocable trust is not one of them.  This question is frequently asked, and the reason for it is understandable....

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Guardianship Basics

Guardianship Basics

"As a result of illness, old age or incapacity, what may happen when you can no longer handle your own decision-making, handle your own money or make your own health care choices? Who can step in to help and how are they empowered?"   For the most part, we are free to...

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Reviewing Your Estate Plan Protects Goals, Family

Reviewing Your Estate Plan Protects Goals, Family

Guess what?  If you never get around to doing your Last Will (about 50% of Americans have not done a Last Will),  New York State has a Last Will all drafted and ready for you.  You don’t even have to approve it or sign it. The New York State Last Will is called the...

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Act Quickly to Protect an Estate

Act Quickly to Protect an Estate

When dealing with the emotional pain of losing of a loved one, family members find they also have to immediately address daunting administrative tasks, planning a funeral, disposition of the remains, and securing the decedent’s property. For most families, the process...

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Is a Will Needed If There’s a Surviving Spouse?

Is a Will Needed If There’s a Surviving Spouse?

A common misconception is that you do not have to probate a will when your spouse dies. This is often true as many spouses hold their property as joint property with rights of survivorship. This is especially true of the family home. When a home is held jointly as...

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What Is a SLAT?

What Is a SLAT?

Today’s very generous federal estate rules are set to expire in 2025, therefore potential estate tax changes are predicted to address the need for increased tax revenue and to get ahead of this change, which is known at the “sunset”. As a result, you may be...

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Top Five Medicaid Myths 

Top Five Medicaid Myths 

1) An Alzheimer’s patient cannot qualify for Medicaid Untrue. The key to applying for Medicaid benefits for home care is ADLs (activities of daily living). Medical professionals must provide a detailed explanation by expanding on the ADLs such as the patient forgets...

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Medicaid Renewal Announcement

Is it time for you to renew your Medicaid eligibility and did you recently receive a request to reapply?  During the COVID-19 pandemic, Medicaid recipients benefited from automatic renewal of their benefits, whether they returned or ignored their renewal applications....

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