ESTATE ADMINISTRATION

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Estate Administration Estate administration is the process of managing and distributing a person’s property (the “estate”) after death.  If the person had a will, the will goes through probate, which is the process by which the deceased person’s property is passed to his or her heirs and legatees (people named …

Century of Giving Phase II Winner Announced

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Celebrating 100 Years  1913-2013 Davidow, Davidow, Siegel & Stern, LLP The votes are in, and Long Islanders have declared the Alzheimer’s Disease  Resource Center of New York to be the winner of the second phase of the 2013 Century of Giving philanthropic contest. “We are pleased to announce that Alzheimer’s …

Google Develops ‘digital will’

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Google has a way to ensure your data dies when you do. The international tech giant, best known for its much-used search engine, has launched an Inactivity Account Manager, a “digital will” of sorts that allows users to determine what to do with their online “digital assets” once it’s no …

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Your Special Needs Trust (“SNT”) Defined You have a special needs trust— or you have been designated as the trustee of a special needs trust— or your child has a special needs trust. What is a trust? What is a trustee? What is a beneficiary? What are all these terms …

2013 is our 100th Anniversary!

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Davidow, Davidow, Siegel & Stern was originally founded by Harry A. Davidow in 1913. The firm later expanded with the addition of Harry’s two sons, Sanford and Wallace and then his grandson, Lawrence, who currently serves as Managing Partner. Located in the Davidow’s hometown of Patchogue, New York, the law …

MEDICARE COVERAGE RULES CHANGED

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In a major change in Medicare coverage rules, the Obama Administration has agreed to settle a class action lawsuit and end Medicare’s longstanding practice of requiring that beneficiaries with chronic conditions and disabilities show a likelihood of improvement in order to receive coverage of skilled care and therapy services.The policy …

Romney’s Plans for Medicaid

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As the presidential campaign unfolds, the differences in approaches to Medicare by President Barack Obama and Republican nominee Mitt Romney have taken center stage. But what is getting far less scrutiny: Romney’s plans for Medicaid. He would convert the health care program for the poor, disabled and elderly into a …

5 Things to Discuss Before Retirement

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You may have a vision for your retirement, but does your spouse share that vision? Spouses often disagree about many key retirement details. It is important to work together to come up with a plan you both can accept. A 2011 study by Fidelity Investments found that many husbands and wives are …

Supreme Court Upholds Health Care Law

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In a dramatic victory for President Barack Obama, the Supreme Court upheld the 2010 health care law Thursday, (June 28, 2012) preserving Obama’s landmark legislative achievement. The majority opinion was written by Chief Justice John Roberts, who held that the law was a valid exercise of Congress’s power to tax. …

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Appeals Court: Denying federal benefits to same-sex couples is unconstitutional A federal appeals court has ruled that the Defense of Marriage Act, a law that denies a host of federal benefits to same-sex married couples, is unconstitutional. The 1st U.S. Circuit Court of Appeals in Boston ruled Thursday that the …

What are you waiting for?

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Let’s say you have a child with “special needs,” or a sister, brother, mother or other family member. You have not created a special needs trust as part of your own estate plan. Why not? We know why not. We have heard pretty much all the explanations and excuses. Here …

How to Select an In-Home Aide

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Studies show that older Americans want to remain in their homes for as long as possible – even when they are struggling. For growing numbers of elders – and concerned family members – the solution to their struggle is a home aide. If your family is considering hiring an aide, the …

QUESTIONS HELP TELL MEMORY LOSS FROM DEMENTIA

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Researchers found that a simple questionnaire can help differentiate individuals experiencing normal age-related memory loss from those likely to be developing dementia. Note that those who often repeated questions, statements, and stories on the same day also were at very high risk for the development of amnestic mild cognitive impairment. …

Trusts and Trust Taxation

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Two Categories of Trusts: Revocable and Irrevocable Revocable TrustsA revocable trust is a trust which can be revoked or amended by its creator at any time and without anyone’s consent. Of course, the creator of the trust retains the unrestricted control of the trust assets so long as he or …