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Estate & Elder Planning
SPECIFIC TOPICS OF DISCUSSION
1. Covid-19 has made it apparent the need for Health Care Proxies, Living Wills and Burial Instruction Directives. The need is even greater for unmarried individuals who may become hospitalized without creating a plan.
2. NY State recently changed the “In Community” or home Medicaid laws, requiring an increased look-back period of 30 months before qualifying for Medicaid. For our elderly family and clients, failure to react to these changes may result in major loss of inheritance.
3. Federal and State Estate Tax laws are sure to change as both national and state debt reaches unprecedented levels. Where the tax laws go from here is unknown, but the client that fails to use the favorable provisions we have now, may regret their delay. This is of real concern whether the current laws sunset, or a change in administration throws the laws into flux again. The US government will need to address ways to reduce their burgeoning debt and the Estate Tax is ripe for the picking.
SPECIAL GUEST: LAWRENCE J. SCHERER
Lawrence J. Scherer, Esq., CPA, LL.M., is the Managing Member of the law firm of SCHERER & PUDELL, PLLC, and is a practicing Estate Planning and Elder Law Attorney in Garden City, New York. Holder of a CPA license since 1985, he received his Juris Doctor degree from Brooklyn Law School in 1989 and his LL.M., in Taxation from the Graduate Law Division of New York University School of Law in 1991.
Prior to establishing SCHERER & PUDELL, PLLC, he had performed both domestic and international tax planning for one of the “Big Six” accounting firms, worked in the tax department of a large NYC law firm, in addition to clinical assignments with the District Counsel Office of the Internal Revenue Service and Law Department of the Nassau County Surrogate’s Court. He has had numerous radio and TV appearances, lectured on various Estate Planning issues and drafted articles on topics from Charitable Remainder Trusts to International Tax Planning for the Expatriate. He works with numerous accountants, attorneys, insurance agents, financial planners and stockbrokers in designing and implementing sophisticated Estate Planning programs. He limits his practice to Estate & Business Succession Planning, Elder Law, Probate and Administration, Real Estate, Corporate and Tax Law.