Switch to ADA Accessible Theme Close Menu
Call Today to
Schedule a Consultation
Bronx 718-822-2203
Bilingual in Spanish
Westchester 914-235-8500

Category Archives: Estate Planning

InheritingHouse

Inheriting A House With A Sibling: An Overview Of Your Options And Estate Planning Strategies

By Cavallo & Cavallo |

For most people in New York, their home is among their largest assets. According to data from NeighborhoodScout, the median home value in the Bronx is now above $565,000. Parents may pass their house down to their children through their will or a trust. For siblings, dealing with inherited real estate can sometimes prove… Read More »

Facebook Twitter LinkedIn
WillDocument2

Is An Out-Of-State Will Still Recognized As Valid In New York?

By Cavallo & Cavallo |

America is a mobile society. According to data from The New York Times, approximately 40 percent of people nationwide live in a different state than the one that they were born in. You may be wondering: Is my will still valid if I moved to New York? The general answer is “yes”—though it is… Read More »

Facebook Twitter LinkedIn
EstPlan21

Special Needs Planning In New York: Your Guide To ABLE Accounts

By Cavallo & Cavallo |

People with special needs require specialized consideration in estate planning. Many people with special needs receive public benefits throughout Supplemental Security Income (SSI), Medicaid, or other government programs. Here is the challenge: These programs are strictly means-tested— a special needs person who has too much income or assets may not qualify. Leaving money or… Read More »

Facebook Twitter LinkedIn
PetTrust

Providing For A Pet In An Estate Plan: A Guide To Pet Trusts In New York

By Cavallo & Cavallo |

According to data from the American Veterinary Medical Association (AVMA), Americans collectively own approximately 140 million pets. For many, pets become true members of the family. If your pet is important to you, it is worth considering them as part of your estate plan. In New York State, a pet trust is an option… Read More »

Facebook Twitter LinkedIn
HIPPA

When, How, And Why To Use A HIPAA Release As Part Of Your Estate Plan

By Cavallo & Cavallo |

The Health Insurance Portability and Accountability Act (HIPAA) is a federal law that protects the confidentiality of sensitive medical records. It requires doctors, medical providers, and insurers to keep records private. A HIPAA release is an estate planning tool that people can use to allow trusted family members and/or loved ones to access their… Read More »

Facebook Twitter LinkedIn
LongTerm

Long-Term Care Planning In New York: What Is A Medicaid Spend Down?

By Cavallo & Cavallo |

Long term care planning is an essential part of estate planning. There may come a day when you, your spouse, or your loved one needs significant supportive care. Long term care is extremely expensive. According to data from U.S. News and World Reports, the median annual cost of a private room in a nursing… Read More »

Facebook Twitter LinkedIn
Planning3

401K And IRA Considerations When Planning For Medicaid: How Can You Keep These Accounts And Still Qualify?

By Cavallo & Cavallo |

If you or a family member are planning for Medicaid coverage and eligibility, the process can seem overwhelming at first. Since Medicaid is a needs-based program that reviews an individual’s income and assets, many wonder: how do I even qualify? You may have heard stories about others spending themselves into poverty just to get… Read More »

Facebook Twitter LinkedIn
EstPlan17

How Family Limited Partnerships Can Help With Estate Planning In New York

By Cavallo & Cavallo |

Estate planning involves a wide variety of aspects, including wills, trusts, advance healthcare directives and other crucial considerations. If you own a family business, estate planning can be even more complicated. You want your business and its assets to transfer smoothly to your next of kin, but without proper planning the IRS may consider… Read More »

Facebook Twitter LinkedIn
HouseForSale

Disclosures In Real Estate: What Is A Seller Required To Disclose In A New York Property Sale?

By Cavallo & Cavallo |

Property sales are one of the most important – but complex – transactions one can be involved with. For the seller, there is the preparation and anxiety associated with putting a home on the market and getting it ready to show. For the buyer, there is the process of viewing homes and ultimately selecting… Read More »

Facebook Twitter LinkedIn
EstPlan11

Asset Protection V. Estate Planning: What Is The Difference?

By Cavallo & Cavallo |

Asset Protection Asset protection refers to the process of shielding assets (such as real property, stocks, bonds, business interests, etc) from creditor claims, levies, liens, and seizures. Developing a plan with an experienced law firm will help to ensure your assets are covered in a smart and – most importantly – legal manner so… Read More »

Facebook Twitter LinkedIn