The decision to transfer one’s residence is often an integral part in asset protection and wealth preservation planning. Every potential transfer of one’s home raises issues regarding estate and gift taxes, capital gains taxes, and Medicaid eligibility.
White Plains, NY (PRWEB) February 17, 2016
Westchester elder law attorney Anthony J. Enea of Enea, Scanlan & Sirignano, LLP in White Plains and Somers, N.Y. recently addressed estate and elder law issues affecting property owners at the New York State Bar Association’s (NYSBA) 2016 Senior Lawyers Section Annual Meeting. With millions of baby boomers coming of age, Mr. Enea urges seniors to take a proactive role in planning for the future.
The NYSBA Senior Lawyers Section Annual Meeting, “Real Property Law: An Update and Primer,” marks the latest speaking engagement for Anthony Enea, who has spent nearly three decades protecting the rights of seniors, the disabled and their families. Mr. Enea, who spoke on factors to consider when transferring a residence for elder law and estate planning purposes, also served as the program chair.
“The decision to transfer one’s residence is often an integral part in asset protection and wealth preservation planning,” said Mr. Enea. “Every potential transfer of one’s home raises issues regarding estate and gift taxes, capital gains taxes, as well as Medicaid eligibility. Although it may seem easiest to proceed with a quitclaim deed to your children, doing so without a thorough examination of the ramifications will inevitably lead to future problems.”
Named Westchester County’s Leading Elder Care Attorney at the Above the Bar Awards, Mr. Enea is the past chair of the New York State Bar Association’s Elder Law Section. His practice areas include elder law; Medicaid asset protection trusts; Medicaid applications (home care and nursing home); special needs planning; guardianships (Article 81 and 17-A); and wills, trusts and estates.
“There are a number of options available for the transfer of real property,” explained Enea. “While the tax advantages and continued flexibility of the Medicaid Asset Protection Trust make it an ideal option in many cases, particularly from a Medicaid planning perspective, all available options should be weighed carefully before proceeding. In a matter of such importance, making an informed choice is essential.”
Mr. Enea was named Best Lawyers’ 2016 Elder Law “Lawyer of the Year” in White Plains, a Top 25 “Super Lawyer” in Westchester County, and is currently president of the Westchester County Bar Foundation. An avid public speaker, Mr. Enea also recently presented for the NY Chapter of the National Academy of Elder Law Attorneys on the unauthorized practice of elder law.
Enea, Scanlan & Sirignano, LLP is located at 245 Main Street in White Plains, N.Y. with additional offices in Somers, N.Y. Elder law attorney Anthony J. Enea can be reached at 914-948-1500 or a.enea(at)esslawfirm(dot)com. For the latest news, visit Enea, Scanlan & Sirignano online at http://www.esslawfirm.com.
About Enea, Scanlan & Sirignano, LLP
Enea, Scanlan & Sirignano, LLP is an AV preeminent rated elder law firm with offices in White Plains and Somers, N.Y. The practice concentrates on Elder Law; Medicaid Planning; Nursing Home and Home Care Applications; Wills, Trusts and Estates; Guardianships; Estate Litigation; Supplemental Needs Trusts; and Special Needs Planning. Enea, Scanlan & Sirignano, LLP serves Westchester, Rockland, Putnam, the Bronx, Manhattan, Long Island and Queens and is committed to providing the highest quality legal services to seniors, the disabled and their families. Visit the firm online at http://www.esslawfirm.com and http://www.westchesterseniors.com.