If you have a family on Long Island, you already plan ahead every day. You plan for school, work, retirement, and care for loved ones. Estate planning on Long Island, NY, is another way to protect what matters most. Yet many families delay the process because it feels confusing or overwhelming. The good news is this: Estate planning does...
Continue ReadingYour assets are hard-earned. They can sustain you and your family for your lifetime and beyond with proper management. Although you might manage your assets day to day by focusing on frugality and investments, how do you protect them from a crisis? This is where asset protection planning in New York matters. With the right legal strategies in place,...
Continue ReadingA probate sale is the sale of a deceased person’s real property overseen by the probate court. Because there might be competing interests in that real estate, there can be legal ramifications to buying, selling, or possessing property from a probate sale. When you are participating in a probate sale, an attorney familiar with New York’s Surrogate Court and...
Continue ReadingWe understand how difficult it is to lose a loved one. At the same time, the legal process of sorting out an estate can feel overwhelming, especially when you are grieving. One of the biggest questions families have is whether a house in probate can be sold and what the process looks like. The good news is that a...
Continue ReadingDoes Medicaid cover dental in New York? Yes, it includes routine exams, cleanings, fillings, extractions, and dentures. Coverage details can vary, so it’s important to check specific plan benefits and provider availability. The Medicaid program in each state can choose to include dental care coverage for its adult Medicaid recipients. Medicaid dental coverage in New York includes emergency and...
Continue ReadingWith all the online resources in the modern age you might wonder, Why would you need a probate attorney? Probate lawyers provide many valuable services, including knowledge of the probate system and how to navigate it. Going through probate without a lawyer is challenging on the best days, and few are at their best after losing a loved one....
Continue ReadingMost people use the terms “estate planning” and “elder law” interchangeably. If you find yourself curious whether elder law vs. estate planning are the same or not, you are not alone. Estate planning deals mostly with helping plan for disability, death, and taxes. The purpose of estate planning is to make sure loved ones receive their inheritance and are...
Continue ReadingNew York, like most states, requires a minimum asset value of the estate to require probate. If an estate’s value is under that minimum, then the estate goes through a small estate proceeding. That said, even if an estate is below the threshold, that does not mean the Surrogate’s Court is not involved. Likewise, you should never assume that...
Continue ReadingWhen people start thinking about their future, one of the first questions they ask is: Do I need estate planning, legacy planning, or both? Legacy planning vs. estate planning overlap but serve different purposes. Estate planning helps you manage and transfer your property during your lifetime and after your death. Legacy planning builds on that foundation by focusing on...
Continue ReadingWhen people start the estate planning process, they often have common questions: What is the difference between a will and a trust? Is a trust the same as a will? Both are legal tools to help you establish terms for your property management and distribution, but they are different. A will is a document that takes effect only after...
Continue ReadingComprehensive estate planning usually involves several documents. One important tool many people use in their estate plans is a pour-over will that complements a living trust. So, what is a pour-over will? Instead of giving property directly to beneficiaries through the will, the pour-over will directs that any assets not put in your trust “pour over” into the trust...
Continue ReadingIn New York, Medicaid imposes strict eligibility requirements based on financial circumstances. When you apply for Medicaid coverage, program administrators review significant financial transactions from the last five years, such as gifts, to ensure you did not give away property just to qualify for Medicaid. This review of the five years preceding your application is known as the Medicaid...
Continue ReadingEstate planning may be intimidating, but for families in New York, the process becomes much easier when you know where to start. At the Law Office of Andrew M. Lamkin, P.C., an experienced estate planning attorney in New York, we can help you create an estate plan that honors your wishes, protects your loved ones, and accounts for your...
Continue ReadingWhen a loved one passes away, navigating the administrative tasks that follow can feel overwhelming. You are grieving while also facing a series of legal and financial responsibilities. If your family member left behind a will, you may be staring at the document, unsure of the first step or how quickly you must act. Many people in this situation...
Continue ReadingWhen it comes to estate planning, one of the most common questions people ask is, At what net worth do I need a trust? The answer is not as simple as a dollar amount. No specific net worth threshold determines whether you need a trust. Instead, it depends on your goals, the complexity of your estate, and whether you...
Continue ReadingProbate is the court-supervised process of distributing a deceased person’s assets, but it can be time-consuming and costly. If you’re looking for ways of how to avoid probate, especially for bank accounts, there are effective strategies that can help. Payable-on-death (POD) designations and joint titling of assets are just two of these strategies. These options allow funds to pass...
Continue ReadingWhen planning for the future, writing a will might be the most important step to protect your assets and ensure your loved ones are financially protected. Many people ask, Do you need a lawyer to make a will? While you are not legally required to hire an attorney to draft your will, having an attorney is often crucial in...
Continue ReadingMedicaid is a government program that helps many people cover long-term care costs, such as nursing home or home health care. However, to qualify for Medicaid, you must meet financial eligibility requirements. One common concern is protecting homes and other assets from Medicaid’s strict asset limits while qualifying for long-term care benefits. Through a carefully planned and executed Medicaid...
Continue ReadingDo you have a will? Do you have anything written down to instruct others about what you want to happen to your assets, heirlooms, and property when you pass away? According to a recent study, only 32% of Americans have a will. Many adults have cited a lack of assets or procrastination as the reason for not having one....
Continue ReadingCreating a detailed estate plan that addresses different contingencies is the best way to ensure your plan is effective when the time comes. A crucial aspect of this process involves naming beneficiaries, typically including both a primary and a contingent beneficiary for each asset. Contingent beneficiaries receive assets only if they meet certain conditions or when the primary beneficiary...
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