New York’s Fiduciary Access to Digital Assets Act George H. Gray / Thursday, October 20, 2016 0 1319 Article rating: No rating On September 29, 2016, a bill was signed into law by Governor Cuomo adding Article 13-A to the New York Estates Powers and Trust Law (the “EPTL”). This legislation is the New York version of the “Uniform Fiduciary Access to Digital Assets Act” (the “Act”) which nineteen (19) other states have also enacted into law. Read more
New York now allows beloved pets to be buried with their owners. New York recently enacted into law a bill which allows the cremated remains of a pet to be buried with their owner. George H. Gray / Thursday, October 13, 2016 0 477 Article rating: No rating Now, there is one issue you can remove from the list of concerns related to planning for the future of your elderly parents. New York recently enacted into law a bill which allows the cremated remains of a pet to be buried with their owner in a cemetery meant for people. Religious cemeteries are exempt, and cemeteries are not obligated to accept animals. Read more
Proposed Changes to ABLE Accounts are moving through Congress. Later this year, persons with a disability will be allowed to establish a savings account. George H. Gray / Wednesday, October 12, 2016 0 701 Article rating: No rating Later this year, persons with a disability will be allowed to establish a savings account called an “Achieving Better Life Experience,” or ABLE Account. These accounts will allow a person with a disability to set aside up to $14,000 per year to be used for the purpose of meeting the “qualified disability expenses.” Read more
Special Needs Trust Fairness and Medicaid Improvement Act (HR 670) Amended House of Representatives Bill Amended on September 20, 2016 George H. Gray / Wednesday, September 28, 2016 0 352 Article rating: No rating A first party supplemental needs trust allows a person with a disability limited access to resources without affecting his or her means-tested government benefits. It allows a person with a disability who has received, for example, an inheritance, an award of back benefits or a personal injury award to enjoy the bounty of the inheritance or award without jeopardizing the receipt or amount of those benefits. Read more
Vision for the Future: Legal Elements 002 George H. Gray / Monday, June 29, 2015 0 370 Article rating: No rating This is the sixth installment in a number of articles which are based upon my book Special Needs Planning: A Simple Guide for Families in New York with a Loved One with a Disability published by Graylake Publishing and released in October, 2014. The book is a response to inquiries from family members and those who support them about how best to provide for a loved one with a disability. While my primary focus is the legal aspects of the process, I have realized in my work that the process for providing a secure future for a loved one is far broader in scope. In this installment, I will further explore the third element of a AVision for the Future.@ Read more