Author name: Gerov Media

Quick take: Manhattan’s Surrogate’s Court is challenging not due to mystery but because it requires precision. Filing the wrong petition type or submitting an incomplete packet can freeze your family’s assets for weeks or months, complicating estate administration significantly. Before completing any forms, confirm whether you have the original will, if there is any real […]

Quick take: A Credit Shelter Trust (CST)—also known as a bypass, AB, or family trust—enables married couples to preserve estate tax exemptions by transferring assets into a separate trust upon the first spouse’s death. The surviving spouse benefits from these assets while protecting them from estate taxes and ensuring they pass to intended heirs. In

  Quick take: New York doesn’t have an inheritance tax. You won’t receive a tax bill just for inheriting money or property in New York. However, New York does impose an estate tax on estates that exceed certain thresholds, requiring taxes to be paid before beneficiaries receive their inheritance. The most significant risk is New

  Quick take: In most states, Medicaid does not cover the full assisted living bill. While it may pay for certain care services, residents typically must pay for room and board out of pocket, making it essential to understand what Medicaid will and won’t cover before committing. The biggest mistake families make is trusting a

  ⓘ Let’s Set the Record Straight First Nursing homes cannot place a lien on or “take” your home. This is one of the most common misconceptions families carry into estate planning conversations — and it’s understandable, since nursing homes are where the care occurs and where the bills arrive. But legally, nursing homes are

How to Avoid Medicaid 5-Year Lookback Penalties: Essential Strategies How to Avoid Medicaid 5-Year Lookback Penalties: Essential Strategies Quick take: If you are applying for Medicaid long-term care in New York or New Jersey, understanding the 5-year lookback period is crucial. Medicaid reviews your financial transactions during the 60 months before your application, and any

Blended families face some of the toughest estate questions: How do you honor bonds from a first marriage without leaving your new spouse or children from previous relationships feeling overlooked? Who inherits when family ties overlap? These questions are especially prevalent today, as over 50% of U.S. families are currently remarried or re-coupled (per the

If you’ve never stepped inside a Surrogate’s Court before, you’re not alone. For many New Yorkers, it’s the first place they visit after a loss, and where they learn how estates, wills, and probate really work.  Many people are surprised to learn that New York has a dedicated court that focuses almost entirely on estates,

When people think about estate planning, they often start with a will. However, for many New Yorkers (especially those with real estate, family-owned businesses, or growing financial assets), a trust can offer far more control, privacy, and long-term security. At the Law Offices of Vlad Portnoy P.C., we help New Yorkers make informed decisions about