New Brokerage Account Safeguards Aim to Protect Seniors From Financial Scams New rules have been put in place to protect seniors with brokerage accounts from financial scams that could drain the accounts before anyone notices. As the population ages, elder financial abuse is a mounting problem. Vulnerable seniors can become victims of scammers who convince them to empty their investment accounts. According to the Financial Industry Regulatory Authority (FINRA), the organization that regulates [...]

If you own property -- whether houses, bank accounts, or vehicles -- in more than one state, do you need estate planning documents for each state? The answer is probably no, but you need to do some planning if you want to avoid going through probate in each of the states. A lawyer can generally draft a will that is generic enough to be probated in any state except Louisiana, which has very specific rules. However, real property in another state is subject to probate in that state even if you [...]

Choosing Retirement Account Beneficiaries Requires Some Thought While the execution of Wills requires formalities like proper witnessing and the need for a notarized witness affidavit, the reality is that most property passes to heirs through other, less formal means. Many bank and investments accounts, as well as real estate, have joint owners who take ownership automatically at the death of the primary owner. Other banks and investment companies offer payable on death accounts that permit [...]

Estate Planning and Retirement Considerations for Late-in-Life Parents Older parents are becoming more common, driven in part by changing cultural mores and advances in infertility treatment. Comedian and author Steve Martin had his first child at age 67. Singer Billy Joel just welcomed his third daughter. Janet Jackson had a child at age 50. But later-in-life parents have some special estate planning and retirement considerations. The first consideration is to make sure you have an estate [...]

On March 29th, 2018 Attorneys Greg Catarella and Al Kukol spoke at the Broome County Bar Association's Elder Law 2018 CLE. Greg presented on 'Medicaid Planning Tools', and Al spoke about 'The New Tax Rules.' Thank you for sharing your expertise with your fellow attorneys!