By Ronald A. Fatoullah, Esq. and Yan Lian Kuang-Maoga, Esq. Now that President Barack Obama has won a second term, what does it mean for seniors? What impact, if any, are seniors to expect with regard to long-term care costs and estate taxes? The good news is that his re-election means Medicare and Medicaid as [...]
By Ronald A. Fatoullah, Esq. and Debby Rosenfeld, Esq. The annual gift tax exclusion will increase from $13,000 to $14,000 effective January 1, 2013. In other words, an individual will be able to gift $14,000 per person (a couple may give $28,000) per recipient every calendar year without any gift tax ramifications whatsoever. Therefore, a [...]
By Ronald A. Fatoullah, Esq. and Lian Kuang, Esq. On October 5, 2012, a New York Appeals Court ruled in support of SungEun Grace Lee (Grace), a 28 year old banker who wanted to be taken off life support and allowed to die. Grace, who has terminal brain cancer, is paralyzed from the neck down [...]
