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Failing to plan your estate can create challenges for your survivors in the long run. That’s why everyone needs a will regardless of the size of your estate.

Wills are often viewed as tools of the wealthy for ensuring an estate stays intact and assets are distributed to chosen heirs in a particular way. If you are someone with very few assets or assets that are of little to average value, you might assume a will is unnecessary. Unfortunately, failing to plan your estate can create challenges for your survivors in the long run.

The Centers for Disease Control and Prevention estimates that more than half a million elder Americans are victims of financial elder abuse on an annual basis. This number is expected to increase as the Baby Boomer generation ages and there are more seniors needing care and supervision. If you want to protect your estate, even if it is what you consider average or below average, or you have non-financial assets to protect, you must create a will.

You Need a Will If You are a Parent
First and foremost, no matter your net worth or assets, if you are a parent you need to create a will. This ensures that if you – and your partner if he or she shares parenting responsibilities – are unable to care for your children, a guardian of your choice will be appointed. There is a chance your children will end up in the care of this person anyway, but why risk it? Stating your wishes in a will shortens the legal process and avoids any questions.

In addition to providing instructions regarding the care of your children, a will can also be used to minimize the taxes owed on your estate and potentially avoid the lengthy probate process. Taxes on estates can be as high as 50%, but an attorney experienced in estate planning can help you create an arrangement that protects as much of your estate as possible from Uncle Sam.

You Need a Will Even If You Do Not Own a Home
If you own any possessions at all and you want them to be given to specific people upon your death, you must create a will. Even if your estate amounts to nothing more than a cell phone and a few baseball cards, if you want to appoint an heir, a will is necessary. Without one, the state chooses your heirs and determines how much each receives.

You Need a Will Now, Not When You are Older or Unhealthy
You want to create a will as soon a possible because in addition to protecting your estate, it creates a legally binding plan for your own care. Though you might think a will is not necessary until you are older or a parent, this document is used to guide decisions about your health care in the event of an accident or illness. This is known as durable power of attorney for healthcare and it ensures your wishes are honored if you suffer unexpected injuries or illnesses that prevent you from communicating your wishes in real-time. This includes whether to use life-sustaining measures to prolong your life.

Durable power of attorney can also apply to financial issues. A will allows you to assign power of attorney to a trusted relative, friend, or even your lawyer. He or she will be in charge of making decisions about your money on your behalf.

Not sure where to begin when it comes to creating your will? An attorney can help you with important decisions and the creation of a document that will be accepted by the legal system in your state.

If you want to protect your family, and alleviate your concerns about “what happens”, call Concetta Spirio at 631-277-8844 today to learn about the benefits of having a Trusts, Wills and Estates attorney on your side. This is a no obligation initial consultation with personal service.

Source:
www.cdc.gov/violenceprevention/pdf/em-factsheet-a.pdf

Concetta Spirio, a highly experienced family and divorce attorney, will be speaking at the 2015 NALS of New York Annual Meeting and Educational Conference, hosted by: NALS of Suffolk County… the association for legal professionals on April 18, 2015. Concetta Will be speaking on the topic of DIVORCE: THE DIFFERENCE AND BENEFITS OF MEDIATION AND COLLABORATION V.S. LITIGATION.

This press release came our way and the information is so important we wanted to share it with you:

FOR IMMEDIATE RELEASE FEBRUARY 27, 2015
Contact: Neal Patel (Heller): 202-224-6244; Rachel McCleery (Stabenow): 202-224-4822


SEVERE TAX CONSEQUENCES FOR HOME OWNERS IN FORECLOSURE.
Senators Heller, Stabenow Introduce Legislation to Eliminate Unfair Tax Bills.
Bipartisan Legislation Will Ensure Mortgage Forgiveness Is Not Taxed as Income.

At present Home owners in foreclosure could face an enormous tax bill if they negotiate a reduction of their debt with the lender. There is now hope that will not be the case for 2015 and 2016 Senators Heller and Stabenow have once again introduced legislation to extend the Mortgage Forgiveness Debt Relief Act for another 2 years (covering 2015 and 2016).

According to a recent press release, U.S. Senators Dean Heller (R-NV) and Debbie Stabenow (D-MI) introduced bipartisan legislation to ensure, when homeowners work with their banks to reduce their mortgage payments, those homeowners will not be hit with a huge tax bill. Without this legislation, homeowners will be required to pay additional taxes when they receive mortgage principal forgiveness on their homes or sell their homes in what are commonly called “short sales.”

“Unless Congress acts, those who are underwater in their homes and have received financial relief for their mortgage could be forced to pay a tax on income they never received. This makes no sense, and the legislation Senator Stabenow and I introduced ensures it won’t happen,” said Senator Dean Heller. “As a member of the Senate Finance Committee I look forward to finding a vehicle to pass this important legislation.”

“It is bad enough that so many families are faced with mortgages that now exceed the value of their home,” said Senator Stabenow. “But to add insult to injury, without this bipartisan legislation, the IRS would require that families willing to work with their lenders pay hundreds or thousands of dollars in additional income tax when they sell or refinance their home. That’s just wrong.”

Declining home prices and rising foreclosure rates have forced many families to sell their homes for less than they paid for them, and sometimes for less than the outstanding debt. The IRS formerly taxed any loan forgiveness provided to homeowners as “income,” meaning underwater families were paying thousands of dollars in income tax for phantom income that wasn’t actual money the family had earned.

While the housing market is beginning to recover, short sales and foreclosures continue. More than one in six (the rate is 16.9%) American homeowners are currently underwater on their mortgages.

Sens. Stabenow and Heller have worked together several times to extend a provision that would protect homeowners from having mortgage relief taxed as income, most recently in the Tax Increase Prevention Act, which extended the tax break through 2014. Their new legislation will extend the current moratorium on taxing mortgage forgiveness through 2016.

Same sex marriage has been a frequent topic in the news recently. Statistics show views on the subject are changing. Pew Research reports that a very noticeable shift occurred around 2011, when more people polled in American supported rather than opposed same sex marriage for the first time in recent history. According to Wikipedia, In the United States, same-sex marriage is recognized by the federal government and has been legalized in 37 U.S. states, the District of Columbia, and 21 Native American tribal jurisdictions. More than 70% of the USA populations live in jurisdictions where same-sex couples can legally marry.

The opportunity for same sex couples to legally marry has been compared to the civil rights movement of the 1960’s. Many experts are predicting that within a short period of time, same sex marriage will be the law of the land throughout the entire United States. More and more judges are ruling that marriage is a fundamental right and soon, this right could be protected by federal law.

Advocates Moving Legal Approval Forward
The issue has recently received support from Theodor Olson, a former US solicitor general appointed under President George W. Bush, and Democrat activist David Boise. The pair’s goal is to advance the issue and argue that marriage discrimination is unconstitutional. They consider same sex marriage to be the defining civil rights issue of our current generation. Just recently in October 2014, the Supreme Court denied petitions to review several federal appeals cases that had ruled in favor of same sex couples in several states, including Utah. The decision resulted in the federal court ruling that same sex couples were constitutionally guaranteed a right to marriage.

Changes throughout the Country
Most recently on February 9, 2015, Alabama was in the spotlight concerning its same sex marriage laws. Same sex marriage had been banned by executive order in the state in 1996, which was later followed up by a law two years later. A state Constitutional amendment was approved by 81% of voters in the state in 2006. All of the bans were repealed in January 2015 by US District Judge Callie Granade. She ordered the state to recognize same sex marriages, placing a stay on her ruling until February 9 to allow the state to prepare. State Attorney General Luther Strange petitioned for an extension of the stay, but the Supreme Court declined to intervene. The incident allowed Alabama to become the 37th state to allow same sex marriage. State judges began issuing marriage licenses within hours of the decision and there were couples lined up outside of court houses throughout the state.

Future of Same Sex Marriage
Same sex marriages are still banned in Georgia, Kentucky, Michigan, Mississippi, Nebraska, North Dakota, Ohio, and Tennessee, and bans are under review in Arkansas, Louisiana, Missouri, South Dakota, and Texas. The Supreme Court is preparing to hear additional cases on same sex marriage throughout the year, but most experts agree the trend will continue and it won’t be long until equal marriage rights are granted throughout the country.

Important Issues Still Exist
Although there are definite benefits and legal protections afforded by same sex marriage today, by no means, is same sex marriage afforded the total equalities of the existing protections for other marriages. Contrary to some thoughts, same sex marriage does not necessarily costs savings for same sex couples. It is important that you consult with an account to understand the dynamics of the impact of a same sex marriage because in actuality it could cost same sex couples more than they anticipated to be married. One example is with employee holding based upon health care deductions for health insurance could create a situation where as a result of the marriage, the person receiving the benefit could actually have to now pay back certain portions of benefits. In addition, many people have not contemplated what happens once couples decide to retire and possibly relocate. If you are in a state that recognizes same sex marriage, what happens if you decide to move to a state that does not recognize same sex marriage. If you are not in pay status for your retirement and social security benefits, this could impact whether the benefit afforded by legalized marriages flows to your partner in a state that does not recognize same, especially if you do not retire prior to moving there. In addition, it also creates questions and consequences with respect to children of a same sex marriage, whether they are born into the marriage after the marriage or adopted and whether a second parent adoption has been done. For states that do not recognize same sex marriage, if there is no second adoption, the non-named parent of the marriage may have no legal rights with respect to the children. These are just a few of the many questions that could arise from same sex marriages since it is not legalized and recognized nationwide. Sources: http://www.pewresearch.org/data-trend/domestic-issues/attitudes-on-gay-marriage/ http://www.pbs.org/newshour/rundown/supreme-court-refuses-stay-alabama-sex-marriage-ban/ http://thinkprogress.org/justice/2014/10/06/3576337/the-supreme-court-just-quietly-made-marriage-equality-the-law-of-the-land-in-many-states/ http://www.cnn.com/2013/05/28/us/same-sex-marriage-fast-facts/index.html

According to the US Census Bureau, couples marrying today have a 50% chance of their marriage ending in divorce. Many of these marriages are between parents and 40% of children will be affected by divorce before reaching adulthood.

When couples with children divorce, their first priority is often the well-being of the children. Sometimes, unhappy couples even choose to stay together because they believe it is the best thing for their children. When a separation or divorce is the best option for the family, effort should be made to protect the most vulnerable members of the family. What can you do to protect your children when you separate from or divorce your partner?

Transition Phase
The process of divorce is stressful for the entire family, but it can be easier if it is handled well. Couples have the option of working together to alter their existing relationship. The inclination during a divorce is to “get rid of your partner” or pay him or her back for any perceived wrongs. Unfortunately, especially for the children, this causes more harm than good in the long run.

During your divorce or separation, do your best to protect your children by working with your soon-to-be-ex to devise an arrangement that is best for everyone. Try to be fair and try not to let your emotional wounds affect your child’s relationship with his or her parent. When possible, avoid a lengthy legal battle.

Custody and Visitation
Protecting your child from harm should be your first priority. If your soon-to-be-former partner has behaved in a manner that put your child at risk, you have every right to protect your child in the future. However, there is a difference between a child being at risk and a child spending time with someone whom you are upset or angry with. Just because your partner hurt you should not mean your child will benefit from estrangement from his or her parent. Do not put your child in the middle of any dispute or discord with your spouse or partner.

Working together to create a custody or visitation arrangement that helps your child feel comfortable and supported is the healthiest type of transition for a child. If he or she is old enough to discuss custody or visitation, take his or her feelings into account when creating an arrangement. Ideally, children will feel just as loved and supported after a separation or divorce as they did when the family was intact.

Finally, speak with your child about responsibility. It is important for children to understand they did nothing to cause the break up of the family.

No matter your personal situation, your children should be protected from the changes in your relationship with your significant other. Working with an experienced family lawyer helps you transition to separation or divorce with as little turmoil as possible. Share your concerns about your child’s safety and well-being with your attorney and he or she can help you determine the steps to take to protect your child.

If you have a legal situation concerning your family and are in need of help, call 631-277-8844 today for a no obligation initial consultation and personal service.

Source:
http://www.smartstepfamilies.com/view/statistics

According to the Pew Research Center, there are about 30 million stepparents in the United States. Almost half of all adults have a step relationship of some kind. Stepparents and their stepchildren have special relationships. Sometimes a child is no more than “my partner’s kid,” but in many cases, stepparents and children bond as much as a child would with his or her birth-parents.

What should stepparents know about their rights if their relationship does not last?

Standing
One of the most important things about stepparents and the law is standing. Standing refers to the right of a person to seek legal intervention, in this case the rights of a non-biological parent, several factors are taken into account including:

• The stepparent’s participation in the child’s life
• The length of time the stepparent was in the child’s life
• The emotional bond between the stepparent and child, and how ending the relationship would affect the child
• The amount of financial support the stepparent provided

Being granted visitation, and even more so custody, when you are a stepparent is rare. It is becoming increasingly more frequent for stepparents to be granted visitation rights with stepchildren because blended families are more common, but it is still considered out of the norm and requires a great deal of effort on the part of the stepparent.

At present, about half of the states have laws authorizing stepparent visitation. Ten additional states expressly grant stepparents rights to seek visitation. And then thirteen more grant interested third parties rights to request visitation and categorize stepparents with these people. In the future, laws will likely address both stepparent custody and visitation with greater vigor.

Considering a Child’s Best Interest
As with all custody and visitation situations, the courts use the child’s best interest to guide decisions. A stepparent or any interested third party is more likely to be granted time with a child if he or she played a significant role in the child’s life prior to the request for visitation. Obviously, courts will show less sympathy for stepparents making bad life decisions that affect children more than in cases of birth parent in the same situation.

If you are the stepparent of a child and you are concerned changes in your relationship with your stepchild’s parent will alter your relationship with the child, you should speak to an attorney. He or she can help you determine your rights and will fight on your behalf so the court understands your role in the child’s life.

Have questions about Family Law or need help in this area, then feel free contact attorney SPIRIO at 631-277-8844.

Source:
http://www.smartstepfamilies.com/view/statistics

There are more than 70 million grandparents in the United States. According to the US Census Bureau’s American Community Survey, more than half of these people believe they would do a better job raising their grandchildren than they did raising their own children. Thirteen percent of these grandparents are raising their grandchildren and serve as the primary caregiver for their children’s children.

In order for grandparents to receive custody and even visitation time with their grandchildren, certain conditions must apply. These conditions vary from state to state, but in general, the best interest of the child is the most important factor.

If custody of a child is an issue, courts typically attempt to award it to the mother. If the mother is unavailable or unfit, the next person to be awarded custody is the father. If the father is not an option, grandparents or other blood relations are typically given next priority. In cases where grandparents feel the child’s parents are unfit, the burden of proof is on them to establish the parent is unfit and in most situations, it is extremely difficult to do so. If neglect is found, the court may remove a child from the custody of the parents. Grandparents would then have to qualify for custody. Again the best interest of the child is the Court’s standard. In many instances the Court may appoint a Law Guardian, a legal representative appointed to represent the child’s interests in the proceeding. The Law Guardian will interview and visit all parties home and prepare a report for the Court.

Receiving visitation as a grandparent is easier than receiving custody. Courts take various factors into consideration when determining whether or not to grant grandparents legal visitation, including:

• Needs of the child, including his or her physical and emotional health
• Capability of the grandparents to meet the needs of the child
• Distance between the child’s primary residence and that of the grandparent(s)
• Wishes of the parent(s)
• Wishes of the child, if the child is capable of making decisions on his or her own
• Strength of the relationship between the grandparent(s) and grandchild
• Length of the relationship between the grandparent(s) and grandchild
• Evidence of abuse or neglect
• Ability of the grandparent(s) to provide love, affection, and contact with the child

Ideally, parents are able to work out an arrangement that includes time with grandparents interested in being a part of a child’s life, even after the child’s parents have separated or divorced. However, this is not always the case, especially if the parent’s relationship does not end amicably or the relationship with in-laws was strained when the couple was together. This can be especially problematic in non-traditional families where grandparents are not accepting of life choices, but still wish to play a role in a grandchild’s life.

If you are a grandparent who wants to continue a relationship with a grandchild once his or her parents separate or you are the parent of a child whose grandparents are threatening legal action, it is important to speak with a family attorney. He or she can explain to you the rights of grandparents and determine what action to take to best protect your family.

If you have a legal situation concerning your family and are in need of help, call 631-277-8844 today for a no obligation initial consultation and personal service.

Source:
http://www.statisticbrain.com/grandparent-statistics/

Families come in all shapes and sizes. More and more these days, children and families are challenged with adjusting to transitions. According to the US Census Bureau, about half of all first marriages end in divorce and nearly one million children are affected each year by divorce. During the 2000s, single parent families rose to an all-time high of nearly 40%*.

NYS Laws vary regarding single and divorced parent families. What does that mean and what rights do single or divorced parents have? Custody issues can be complicated when parents of a child were never or are no longer married. Issues affecting single or divorced parents include:

Custody and Visitation
When parents were never legally married, there is no assumption of paternity for single fathers. If a single father wants sole or joint custody of his child, he must file a Voluntary Acknowledgement of Custody and/or take a DNA test. This makes it possible for him to pursue sole or shared custody of the child. It will also make him financially responsible for this child, regardless of whether or not custody and visitation is granted.

When a child is adopted, both parents will need to show proof of their standing in their child’s life if the relationship ends and both want custody and/or visitation. As long as both parents played a significant role in the care and upbringing of the adopted child prior to the separation or divorce, it will be treated similarly to if the child were biologically their own. For Gay and Lesbian couples, it is imperative that both parents have been legally recognized by a second parent adoption and/or joint adoption.

When parents were married and are divorcing, the custody and visitation agreement is part of the divorce proceedings. If parents are able to work out a custody and visitation arrangement on their own, the courts just need to approve this. If they are unable to agree on an arrangement, the court will make these decisions based on what it feels is in the best interests of the child.

Child Support
Children born to a married couple are deemed the child of those parents. This premise has yet to be put to the test for Lesbian couples. For an unmarried parent, in order for a parent to receive child support for the care of a child, he or she must prove the other parent is responsible for the child. This is done either through paternity testing or by demonstrating a parent’s role in the adoption of the child.

Best Interest of the Child
Above all else, regardless of the relationship of parents, the best interest of the child will be the standard of review used by the Courts. When parents are able to do this on their own, the court simply oversees their efforts and ensures the child is protected. If parents are unable to agree on the future of their child, family court will make a decision based on the needs and desires of the child. The wishes of the child however are not determinative and often not truly considered unless the child is fourteen or older.

If you are the parent of a child and were never married to his or her mother or father, or you are in the process of a divorce, it is important to work with an experienced family law attorney. This ensures your role in your child’s life is protected, especially if you are part of a non-traditional family.

If you need help in this area or have questions feel free contact attorney Concetta Spirio at 631-277-8844

* www.smartstepfamilies.com/view/statistics