Estate planning involves more than just deciding who gets what. It’s about creating a roadmap for how to manage your assets during your life and distribute them afterward. Trusts are one of the most effective tools for achieving these goals, and in New York, two key options to consider are revocable vs irrevocable trust. Understanding their distinctions can help...
Continue ReadingIt may never seem like the right time to plan for the end of your life. But having a plan can give you valuable peace of mind. If you wait, you may have to scramble while dealing with medical issues that make it difficult or impossible to plan appropriately. Or you may leave your loved ones sorting through your...
Continue ReadingA healthcare proxy and a power of attorney (POA) are two legal documents that grant individuals the authority to make crucial decisions on behalf of someone else. While they share some similarities, they serve distinct purposes within personal and medical decision-making. It’s essential to recognize the differences between a healthcare proxy vs. power of attorney and use them appropriately....
Continue ReadingElder law lawyers provide a range of valuable services that older individuals tend to need. Scheduling a meeting with an attorney can be the first step towards setting yourself and your family up for a successful future. When arranging an appointment, you may wonder, What questions should I ask an elder law attorney? Preparing the right questions can help...
Continue ReadingHave you recently been appointed the executor, trustee, or administrator of an estate? If so, you may have been presented with the term “fiduciary duty.” And you may wonder, What is a breach of fiduciary duty? It is understandable that this term is unfamiliar to you if you have never been appointed to manage an estate before. Therefore, we...
Continue ReadingWith aging can come new and overwhelming challenges regarding health, finances, and support. Unfortunately, the discriminatory behaviors of others compound the challenges of aging for many elders within the LGBTQ+ community. Discrimination in the provision of government programs and services for the public is unlawful. We all deserve to be treated with respect and dignity, and several state and...
Continue ReadingAs parents and other loved ones age, they may require assistance with the activities of daily living, finances, and medical care. But that does not mean they want to completely give up their independence. Nor should they. So children and other caregivers must tread lightly in offering and providing assistance. The Golden Rule provides a useful guide when it...
Continue ReadingCaring for an aging parent can be emotional and bring up old, unresolved issues between family members. It is not uncommon for families to disagree on what their mom, dad, or grandparent needs. Everyone has a different opinion and solution. Not only can these disagreements damage family relationships, but they may be detrimental to the elderly person’s care. With...
Continue ReadingIf you or a family member needs skilled nursing care, you have plenty of issues to tackle regarding medical care, costs, and protecting assets. What to do with the house when the elderly enter a nursing home is often a primary concern. When you are facing the issue of an elderly person moving into a nursing home you must...
Continue ReadingIn an effort to move into retirement with as many issues settled as possible, it is necessary to address decreasing retirement savings tax issues. Taking steps in this regard will aid in having a more pleasurable and lucrative retirement. Here are 6 ways to lower your retirement savings tax issues. Tip 1: Have a Retirement Date Goal For retirement...
Continue ReadingIf you want to become an administrator of an estate in New York, you will need to comply with certain rules and procedures. Although these rules can be confusing, New York probate attorney Andrew Lamkin can help you navigate the maze. It is important to understand the distinction between “executor” and “administrator” in New York, however, because not all...
Continue ReadingThere are many reasons you might wish to keep your home in the family after you die—like an heirloom, for example, or to provide a fallback residence for your children in case of financial difficulties. Regardless of your reasons, there are a number of ways to protect your family’s home after you die. Although each method has its pros...
Continue ReadingThe ongoing retirement of the Baby Boomers is marking one of the greatest demographic transitions in US history. If you are looking toward retirement a few years down the road, or even longer than that, there are certain preparations you need to start making now. Some of these are obvious, while others are less so. Below is a general...
Continue ReadingMost people have a general idea of what estate planning is. Fewer, however, are familiar with the concept of elder planning. In a nutshell, estate planning is concerned with what happens to your assets after you die, while elder planning includes both estate planning and planning for what happens to your assets before you die. Ultimately, elder planning is...
Continue ReadingA conservatorship is a type of guardianship. Guardianship is an arrangement whereby one person (the guardian) is empowered to make important life decisions on behalf of another person (the ward) who has lost the capacity to make these decisions themselves. The decision-making powers that the guardian can exercise might include the power to manage the ward’s finances or healthcare...
Continue ReadingNew York state trusts and estates law provides several legal vehicles that allow you to state your wishes concerning what should be done in case you someday become incapacitated. The most popular of these vehicles include the revocable living trust, the living will, various types of power of attorney, and the Health Care Proxy. You are considered incapacitated when...
Continue ReadingOne of the most challenging questions family members will find themselves asking as their loved one ages is whether or not to place that loved one in a nursing home. Every situation is unique, and there is no one-size-fits-all answer to this question. Instead, you must consider all of the factors and then decide if nursing home care is...
Continue ReadingCOVID-19, also known as the novel coronavirus, mainly affects those over the age of 60 or those with a known health condition – including disabilities. Now, not everyone with a disability is affected by this virus, and many individuals with disabilities will recover even after contracting it. However, it is important to know which disabilities put family members at...
Continue ReadingThe recent COVID-19 pandemic attacking the United States and countries around the world has certainly tested the healthcare system, but it has also highlighted major flaws when it comes to infection control. It all began in Washington at a single nursing home, but that state is not alone. Multiple nursing homes across the country have had outbreaks that show...
Continue ReadingRespite care is a form of temporary care that gives family members or primary caregivers a break. Respite care might be used when a primary caregiver is out of town, ill, or just needs a day to run errands. Whether you are considering respite care for yourself or a loved one, it is important to understand the type of...
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