Walsh & Onofry

02/02/2024

As individuals navigate the complexities of financial planning, especially for long-term care and medical expenses, the significance of estate planning tools like irrevocable Medicaid trusts cannot be overstated. These trusts offer a range of benefits that can provide peace of mind and financial security for you and your loved ones. Here are the top 5 reasons to consider forming an irrevocable Medicaid trust:...

As individuals navigate the complexities of financial planning, especially for long-term care and medical expenses, the significance of estate planning tools like irrevocable Medicaid trusts cannot…

01/26/2024

Buying a new home is one of the most significant financial and emotional investments you'll make in your lifetime. The process can be both exciting and daunting, but with the right knowledge and preparation, you can navigate through it smoothly. To help you make the best decisions and find the home of your dreams, we've compiled a list of the top ten tips for buying a new home....

Navigate the home-buying process with confidence using our comprehensive guide. Learn about budgeting, mortgage pre-approval, neighborhood research, inspections, negotiations, legal aspects, and long-term planning to find your dream home stress-free

01/26/2024

Financial planning often involves the use of trusts to secure assets and ensure their effective management in the future. Trusts aid in estate planning, protect assets from probate, provide for minors and beneficiaries, offer tax advantages, enable incapacity planning, maintain privacy and control, and shield assets from creditors. Seeking professional advice is crucial for selecting the right trust structure....

09/16/2021

Buying a home? Testing for radon? Know why?

Here’s some info.

Details on the radioactive gas radon and what you can do to protect yourself from harm. Provided by the Centers for Disease Control and Prevention.

03/31/2021

Looking towards college? Or in it already? How are you paying for it?

It’s never too late to look for scholarships and grants. Sites like fastweb are available. But, you can use the federal government’s free site (careeronestop.org) too.

03/30/2021

Going to a real estate closing? Remember, a bank check is an official check issued by the bank itself. Not one drawn using your personal checkbook.

How do you get a bank check? You go to a branch and either fill out a withdrawal slip, or cut a personal check to the bank. Then the branch gives you an official check that often comes with a carbon copy, or check stub.

Good luck!

03/26/2021

Are attorneys’ fees deductible?

Unless you operate a business, and it’s the business that engages the attorney, fees aren’t often deductible. Some exceptions exist for everyday individuals if you’re itemizing. Not many. And, with the new standard deduction, fewer folks itemize.

Have specific questions? We recommend you contact an accountant or tax professional.

03/25/2021

For a little more than LegalZoom we’ll do the work for you!

03/24/2021

So, you want to buy raw land and build a house, huh? You better make sure the land perks.

Never heard of a perk (also called a “perc”) test? Visit this site. Watch some videos. Or, even better, contact an engineer!

What's a "Perc Test"? How does it work? Why does it matter? Is it really that important? We're going to answer all of this (and a lot more) right now.

03/23/2021

One of the greatest things about our practice is that we get to meet new people. While taking care of our clients’ sale today, there was time to get to know the new homeowners - a couple with roots in the Bronx that’s now calling Port Jervis home.

This young couple is talented, and looking forward to taking advantage of the community’s offerings. Most interesting, to me, the husband is a diversity officer for a startup. He’s leading change in his professional role. I expect we’ll see him doing great things around town, too.

To all the folks coming in, welcome. To those going out, good luck!

03/22/2021

Planning for long-term Medicaid and wondering what’s a permitted expense? Funeral expenses.

While tough to think about, the government lets you spend money on a pre-paid plan. Doing so doesn’t disqualify the applicant from Medicaid coverage for long-term care.

03/19/2021

Want to spice up your Friday and use some Banking Law? Write a check.

Checks are drafts, as defined by the UCC (Uniform Commercial Code). It’s written by one party, telling another party (bank) to pay a third party.

Drafts may be paid to specific payees. Or to a “bearer” - one in possession. Need an example? Write a check payable to “cash.” You’ve created a bearer draft.