Elder Law News
From Enea, Scanlan & Sirignano, LLP November 2024
|
|
|
|
Happy Thanksgiving from
New York's Elder Law Team
|
|
|
Anthony J. Enea, Esq. Honored at Westchester County Bar Foundation's 13th Annual Benefit
|
|
|
On Tuesday, October 29, Anthony J. Enea, Esq., managing partner at Enea, Scanlan & Sirignano, LLP, was honored at the Westchester County Bar Foundation’s 13th Annual Benefit at Fenway Golf Club in Scarsdale, NY. More than 280 attended the event, with proceeds supporting the Foundation's initiatives for justice and community service.
As a former Foundation president, Mr. Enea played a key role in establishing the funding for the Foundation’s public interest law fellowship, which provides vital legal services to underserved and indigent residents in Westchester County. "I’m deeply honored to be recognized by the Foundation," said Mr. Enea. "Supporting our legal community and expanding access to justice is incredibly meaningful work."
The event also recognized the Hon. Joan B. Lefkowitz of the Westchester County Supreme Court for her contributions to the legal community.
|
|
|
Liquidity Without Loss: The Beauty of the Irrevocable Life Insurance Trust
By: Stella King, Esq.
|
|
|
Most people purchase life insurance to ensure their loved ones will be financially sound upon their demise. While the details of these policies vary, they generally fall into one of two categories—whole life or term. A whole life policy provides permanent coverage and has a cash value that can be “surrendered” (withdrawn) during the insured’s lifetime. A term policy has no cash value during life, may expire without paying any benefits, and pays out only upon the death of the insured. Life insurance is taxable in the decedent’s estate, and thus, a large policy can trigger unplanned estate tax ramifications.
Enter the Irrevocable Life Insurance Trust (ILIT), designed specifically to hold your life insurance policy. The ILIT is an effective tool that allows you to maintain your life insurance policy while ensuring the proceeds are not subject to estate tax. It works as follows: You are the creator of the ILIT and you designate other individuals (or an entity) as Trustee(s). You then purchase a policy in the name of the ILIT (the ILIT is the owner), but you remain the insured. The beneficiaries of the policy are those designated by you within the ILIT. Upon your passing, the value of the policy is removed from your taxable estate. Alternatively, if you have an existing policy, it can be retitled to an ILIT—if you survive three years from the date of transfer, the proceeds will not be includible within your taxable estate, and consequently, not subject to estate tax.
|
|
|
Enea, Scanlan & Sirignano Named 'Best Law Firm' by Best Lawyers for Fifteenth Consecutive Year
|
|
|
The law firm of Enea, Scanlan & Sirignano, LLP has been selected by Best Lawyers® for inclusion in their 2025 'Best Law Firms' in the fields of Elder Law and Trusts & Estates for the New York metropolitan region. This marks the fifteenth consecutive year that the firm has been recognized for its professional excellence.
The 2025 'Best Law Firm' rankings feature law firms that have demonstrated consistently impressive performance ratings by clients and peers. The process addresses expertise, responsiveness, in-depth understanding of business, integrity, cost-effectiveness, civility, and positive referrals. The rankings showcase more than 16,000 law firms in over 120 practice areas.
"At Enea, Scanlan & Sirignano, our priority is to uphold the highest standards of service in both our legal practice and our relationships with clients and peers," said managing partner Anthony J. Enea. "We believe that planning for the future is invaluable at every stage of life."
|
|
|
Upcoming Speaking Engagements
Featuring the Attorneys of Enea, Scanlan & Sirignano, LLP
|
|
|
Tuesday, November 19, 2024 from 12:00-1:00pm Lauren C. Enea, Esq. will be speaking on “Transfer on Death Deeds (TODD)” Hosted by: Westchester County Bar Association Webinar For more information, visit: https://tinyurl.com/WCBANY
***
Tuesday, November 19, 2024 from 12:00-1:00pm Anthony J. Enea, Esq. will be speaking on “Avoiding the New York Estate Tax Cliff” Hosted by: NYSSCPA Rockland Chapter Webinar For more information, visit: https://tinyurl.com/2udfktkd
***
Tuesday, December 3, 2024 from 7:00-8:30pm Sara E. Meyers, Esq. will be speaking on “Planning Considerations for New York's New Medicaid Eligibility Requirements for Long-Term Care” Hosted by: Chappaqua Continuing Education In Person: Chappaqua For more information, please contact our office at (914) 948-1500.
***
Thursday, December 12, 2024 from 1:00-2:00pm Lauren C. Enea, Esq. will be speaking on “Protecting Assets from the Cost of Long-Term Care” Hosted by: Judicial Title Insurance Agency Webinar For more information, please contact our office at (914) 948-1500.
***
Friday, December 13, 2024 from 12:30-1:30pm Anthony J. Enea, Esq. will be speaking on “Drafting an Effective Power of Attorney” Hosted by: New York County Lawyers Association Webinar For more information, visit: https://tinyurl.com/mr2e92ax
|
|
|
The Talking Seniors podcast is currently on break.
Take a listen to some of the episodes from last season.
|
|
|
Episode 13: What to Discuss with Family When an Alzheimer's Diagnosis Occurs
Anthony J. Enea, Esq. interviews Joan Nimmo of The Alzheimer's Association about the important conversations that are necessary when a diagnosis of Alzheimer's occurs within the family.
|
|
|
Follow Us on Social Media
|
|
|
If you would like to unsubscribe and stop receiving these emails click here.
|
|
|
|