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Recent Changes to New York Divorce Statute

Roberta K. Feldman 0 431 Article rating: No rating
A new law was passed by the New York State legislature and signed by the Governor on September 25, 2015 which portends significant changes to the law of divorce in this state, particularly in the awarding and calculation of spousal maintenance. This article will highlight those areas of the law that will affect parties involved in a divorce in this state. In 2010, the Domestic Relations law was changed to provide a starting point for calculating temporary spousal maintenance; that is during the pendency of a divorce action only.

Vision for the Future: Legal Elements 002

George H. Gray 0 252 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.@

Vision for the Future: Legal Elements 001

George H. Gray 0 242 Article rating: No rating
This is the fifth 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 and the next two, I will explore the third element of a "Vision for the Future."

Further News on ABLE Accounts

George H. Gray 0 238 Article rating: No rating
Section 529A of the Internal Revenue Code allows the creation of a qualified ABLE program by a State (or agency or instrumentality thereof) under which a separate ABLE account may be established for a disabled individual who is the designated beneficiary and owner of that account. Contributions to an ABLE account are subject to both an annual and a cumulative limit; and, when made by a person other than the designated beneficiary, are treated as non-taxable gifts to the designated beneficiary. Distributions made from an ABLE account for “qualified disability expenses” of the designated beneficiary are not included in the designated beneficiary’s gross income. Most importantly, amounts in the ABLE Account are not considered an available resource for purposes of means tested government benefits, such as SSI and Medicaid.

ABLE Accounts are Closer to Realization in New York

Wendy Emerson 0 220 Article rating: No rating
On June 19, 2015 the Treasury Department issued proposed regulations interpreting and explaining many important provisions affecting ABLE accounts. This is a welcome development as New York begins to establish an ABLE program and practioners begin to plan for their clients and consumers who have a disability. In a related development, the New York State Legislature passed enabling legislation on June 18, 2015 paving the way for an ABLE ACT program to be established in New York. The Legislation has been sent to the Governor for his signature
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