Click here to listen to the recording. The Stony Brook University Foundation invited David R. Okrent, Esq., CPA, to be the featured speaker for its March 2025 webinar on “Elder Law and Estate Planning.” Invites were limited to its Alumni and Friends.
Update: On April 9, 2025, parties to a federal lawsuit against New York State’s Department of Health filed a joint proposed preliminary injunction, approved by the judge on April 10, 2025, extending the date for transition to May 15, 2025
Generally In 2021, Congress passed the Corporate Transparency Act (CTA) on a bipartisan basis. This law created a new Beneficial Ownership Information (BOI) reporting requirement as part of the U.S. government’s efforts to make it harder for bad actors to
On January 5, 2025, President Biden signed the Social Security Fairness Act, H.R. 82, repealing the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) This Act was passed by a large bipartisan majority in both the House and Senate.
In April of 2024, the New York Executive and the New York Legislature released and enacted Article VII budget language bills changing, in addition to many other changes, the Consumer Directed Personal Assistance Program (“CDPAP/CDPAS”) under the New York State
We are happy to announce that the Firm’s Managing Attorney, David R. Okrent, Esq., CPA, has been appointed to the New York State Coordinating Council for Services Related to Alzheimer’s Disease and Other Dementias by New York State Governor Kathy
The NY Governor’s 2024-2025 budget contained a new section of the Real Property Law in New York, Section 424 authorizing Transfer-On-Death Deed(s) for New York real property (See Governor’s budget, Art. VII, Part O, sec. 12). This new section creates
On Friday, April 19, 2024, and Saturday, April 20, 2024, the New York Executive and the New York Legislature released and enacted the remaining Article VII budget language bills. Many issues that were on the table did not make it
The Internal Revenue Service announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024, including the tax rate schedules and other tax changes. Revenue Procedure 2023-34 [click for actual ruling] provides detailed information about these
The purpose of this General Information System (GIS) message is to inform local departments of social services (LDSS) of updates to the provisions of GIS 23 MA/03 (“Unwind of Medicaid Continuous Coverage Requirement Related to the COVID-19 Public Health Emergency
As advised in Administrative Directive 06 OMM/ADM-5, “Deficit Reduction Act of 2005 – LongTerm Care Medicaid Eligibility Changes”, the life expectancy table issued by SSA is required to be used in evaluating whether an annuity purchased by or on behalf
Do assets received by a beneficiary of a “Grantor trust” on the death of the Grantor receive a “step up in basis”? On January 9, 2023 IRS issued Revenue Ruling 2023-2; 2023-16 IRB 1, determining that there is no basis
The Relief The Department of the Treasury and the Internal Revenue Service (IRS) intend to issue final regulations related to required minimum distributions (RMDs) under section 401(a)(9) of the Internal Revenue Code that will apply no earlier than the 2023
FROM THE FDIC WEBSITE: Revocable and Irrevocable Trust Rule Change Effective April 1, 2024 Mortgage Servicing Accounts Rule Change Effective April 1, 2024 All the rules discussed in this section are current through March 31, 2024. The FDIC approved changes, on
The Social Security Administration (SSA) has published changes to social security rates, benefits etc. that take effect on January 1, 2022. Click here for the Social Security Administration’s “Social Security Fact Sheet” as to the the updated changes. It always
GIS 21 MA-26 Update Regional Rates: The purpose of this General Information System (GIS) message is to inform local departments of social services of the year 2022 Medicaid regional nursing home rates which must be used when calculating a transfer
No. 202.105 E X E C U T I V E O R D E R Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency WHEREAS, on March 7, 2020, I issued Executive Order Number 202, declaring a State disaster emergency for the entire State of New York; and WHEREAS,
In the fall of 2019 David R. Okrent, was appointed to act as the February 2020 Special Editor for the Suffolk Lawyer’s Special Edition focus on Elder Law. Posted here is a redaction of two of the articles that were
The Governor’s Order, for a limited time, provides that any notarial act that is required under New York State law is authorized to be performed utilizing audio-video technology provided that the following conditions are met: The person seeking the Notary’s
10 ESTATE PLANNING MISTAKES & HOW TO AVOID THEM: • ARE YOUR DOCUMENTS OUTDATED OR MISSING SIGNATURES? • COULD YOU HAVE THE WRONG PERSON AS EXECUTOR? • HAVE YOU FAILED TO PROPERLY EXECUTE POWERS OF ATTORNEY WITH GIFT RIDER? •
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