The EB-5 visa program was first launched in 1990 in order to allow foreign nationals an opportunity to obtain a green card in exchange for their investments in qualified real estate development projects. Several projects throughout New York have to come to fruition, thereby permitting many foreign residents an opportunity to make a new start in this country. While this program has been beneficial to both sides in the majority of cases, there have been numerous allegations of investors losing their monies due to alleged EB-5 fraud.
In 2015, The U.S. Supreme Court ruled that marriage protections were to be extended to gay and lesbian couples. Unfortunately, that ruling has not afforded same-sex families universal acceptance. Recently, an adoption agency filed a civil suit against New York state in an effort to prevent same-sex couples from adopting children.
Your right to marry your partner came after much struggle and suffering, as is true with the winning of many important rights. When the U.S. Supreme Court delivered its landmark ruling legalizing same-sex marriage in all 50 states, you and your partner could enjoy the same protections as opposite-sex couples, including tax benefits, insurance coverage and surrogate authority for medical decisions.
When it comes to estate planning, there are two categories that many people will fall into: those who haven't made any plans at all, and those who have done so but fail to update them. New York residents who have set up a will or have other plans in place may believe that they have no further concerns. However, failing to regularly revisit one's estate plans can be a costly error.
The federal government is considering whether to provide for another extension of the EB-5 visa program. While it is headed into its 28th year, the program does have its detractors who are concerned about the recent lawsuits over alleged EB-5 fraud. The program has provided funding for many successful projects in the New York area, and countless foreign nationals have obtained visas by way of their investments.