Author Archives: Brian Miller
Giannasca & Shook named Best in Poughkeepsie 2018
Giannasca & Shook’s attorneys, Michael A. Giannasca & Brian L. Miller, are honored to be named among the Best of Poughkeepsie 2018. Call us at 845-293-6300 or click here to contact us online for all of your Elder Law and Estate Planning needs. Congratulations to this year’s honored business! Featured in the Poughkeepsie Journal.
When Gifting Does Not Make Sense: Stepped-Up Basis
One of the commonly misunderstood (or perhaps unknown) issues to be considered with regard to the gifting/transferring of one’s property is the issue of “step-up in basis.” Internal Revenue Code §1014(a) provides that the cost basis of property for the person acquiring same from a decedent is the fair market value (FMV) of the property at… Read More »
Why You Need A Statutory Gift Rider
While many people may have a general understanding that a durable power of attorney (POA) allows a person to appoint an agent to take care of their finances, various issues can arise if the POA is not properly prepared and/or executed. One such issue often arises regarding the Statutory Gifts Rider (SGR), which is essential for… Read More »
Can A Person With Cognitive Impairment Sign Legal Documents?
When someone begins to exhibit signs of Alzheimer’s or dementia – or perhaps even has a diagnosis of some type of cognitive impairment, they often turn to us – wondering if it’s too late to prepare estate plans and get advanced directives in place. To better understand what can and cannot be done, consider the… Read More »
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UNDERSTANDING A HEALTH CARE PROXY
Richard, an 81 year-old widower, has had his Will and advanced directive documents (Power of Attorney, Health Care Proxy and Living Will) in order for some time. His daughter, Beth, was named his Health Care Agent in his health care proxy. Of his children, she lived the closest and often accompanied him to doctors’ appointments… Read More »
IS DAD OKAY? THE GRAY ZONE OF ELDER GUARDIANSHIP
Often, clients will inquire about obtaining a guardianship for a parent (or other family member) that they feel may need some oversight. This is usually prompted by what the children view as unsound decisions or unusual conduct on the part of the parent Very often, the parent is resistant to having a guardian appointed believing they… Read More »
SECOND MARRIAGES BRING CHALLENGES IN ESTATE PLANNING
The complexities attending second marriages often times require special attention, particularly if there are children from a prior marriage, significant age differences or medical conditions, or if one spouse has substantially more assets than the other. Like most people, you may want to assure your new spouse is provided for in the event you pass… Read More »
WILL YOUR ANNUITY MAKE YOU INELIGIBLE TO RECEIVE MEDICAID BENEFITS?
Annuities are often used to produce a monthly stream of income for a fixed period or even for life. Many people use annuities as a form of retirement account to provide a stream of income in their golden years. However, if your annuity is not properly created it may prevent you or your spouse from… Read More »
Achieving a Better Life Experience (ABLE) Accounts
Prior to passing the Achieving a Better Life Experience (ABLE) Act of 2014, the IRS tax code provided significant tax benefits to parents who save money for their children’s college education with a 529 Plan. However, parents of children with disabilities had no similar way to use these tax benefits and save for their children’s… Read More »