New York Medicaid beneficiaries might be aware of the 21st Century Cures Act (CCA), which came into effect on Jan. 1. The law changes the wording of the Omnibus Budget Reconciliation Act of 1993, which was written to exclude people with disabilities from creating...
Using irrevocable trusts to protect assets
On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 25, 2017 | Estate Planning
When New York residents have worked hard all of their lives to provide for their families, they want to ensure that they protect the assets that they have obtained. However, many residents who start the estate planning process still want to maintain some form of...
Finding the right trustee
On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 19, 2017 | Estate Planning
Trusts can be an important part of estate planning that help benefactors take care of their heirs. However, the good intentions of a grantor sometimes turn disastrous when the wrong person serves as a trustee. Trustees must manage assets in a trust, so the right...
3 important issues to discuss with aging parents
On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 17, 2017 | blog
Coming to terms with the fact that your parents are aging is hard. You might be uncomfortable thinking about it, and your parents might be uncomfortable talking about it. While there may be valid concerns, there are still benefits to discussing important end-of-life...
Trustee duties under an irrevocable life insurance trust
On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 14, 2017 | Trust & Probate Administration
A New York resident who is appointed trustee of an irrevocable life insurance trust has a number of duties and responsibilities. Above all, a trustee has a fiduciary duty, and this means there is a legal obligation to administer the trust competently for the benefit...
DIY will vs. lawyer: Which will save you money?
On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 12, 2017 | blog
As you help your parents with their estate plans, you are probably using the internet as your primary source of information. You will also find plenty of free or low-cost legal forms you can fill out, such as wills and advance health directives. Going that route may...
Advantages of trusts for charitable giving
On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 3, 2017 | Estate Planning
New York residents who would like to give to charity and provide for their loved ones in their estate plan can do both with a charitable trust. There are two types of charitable trusts. With a charitable remainder trust, a person places assets in the trust and then...
Recent Posts
Archives
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- December 2019
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
- September 2016
- August 2016
- July 2016
- June 2016
- May 2016
- April 2016
- March 2016
- February 2016
- January 2016
- December 2015
- November 2015
- October 2015
- September 2015
- August 2015
- July 2015
- June 2015
- May 2015
- April 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- February 2014