Most people use the terms “estate planning” and “elder law” interchangeably. If you find yourself curious whether they 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 taken care of after...
Continue ReadingWhen and how long Medicare covers nursing home costs will vary, but understanding how your benefits work and when they kick in is critical when you require nursing home care. Most seniors will reach a point where they need nursing home or long-term care. Sometimes, it is only after an illness or accident, while other times the situation is...
Continue ReadingWhether you are looking for nursing homes for yourself, a spouse, or an aging loved one, it is imperative that you do your research first. Nursing homes are plentiful, but not all of them offer the same care that you would expect. By understanding the basics to include in your search, you can narrow down the list of choices...
Continue ReadingThe job of being an estate’s executor is not an easy one. This is why, when you designate someone, you do so with extra care. You pick someone organized, efficient, and mentally ready for the job ahead. Whether you are working to pick an executor or you were named the executor of an estate, there is much to still...
Continue ReadingMore baby boomers are hitting 65 each day and will continue to do so into 2030. Therefore, the issues surrounding elder law are becoming more mainstream, especially as more enter or head toward retirement and start looking at the facts. From Medicare to long-term care coverage to Social Security, there is a lot to know about elder law. Naturally,...
Continue ReadingAn elder law attorney serves as your advocate and also your family’s guide. This area of the law specializes in the unique range of financial and legal matters older adults face, including everything from health care planning to long-term care to guardianship and estate planning. An elder law attorney is a specialist because they focus specifically on the issues...
Continue ReadingDescription: An elder law attorney can help you long before retirement with everything from long-term care to Medicare and even the creation of an estate plan. You know that you need an elder law attorney. But as you ponder over your options, you might have noticed some attorneys have called themselves “certified,” while others do not. The certification they...
Continue ReadingWhen you are looking for an elder law attorney, ask these questions before hiring him or her to make sure they are the right fit. As you age, concerns about your living situation, care needs, and finances start to arise. You might wonder how you will pay for long-term care, what will happen to your assets, or who will...
Continue ReadingAfter losing one parent, you may see that your surviving parent is struggling with the legal and financial tasks that come afterward. After all, they are grieving and the last thing they should have to deal with is the paperwork, phone calls, and endless to-do items. As an adult child, there are things you can do to help your...
Continue ReadingAs you age, you face critical decisions that not only impact your quality of life but the life of your loved ones. Some decisions you might make include how you receive medical care, where you live, and what you want when you pass away. Many decisions you make have legal considerations too, which is why elder law attorneys are...
Continue ReadingAs any experienced small business owner already knows, the primary goal of small business tax planning is to make the most the money the business is already generating. How an accountant achieves that goal depends on the type of business, the source of its income, and a myriad of other factors. Staying Out of Trouble Generally speaking, effective tax planning...
Continue ReadingVarious laws concerning a person’s property rights during marriage are normally based on the state that the marriage took place in. Marriage and property ownership laws in different states are divided into two different categories. There are states with community property laws and states that do not have community property laws. These different laws govern how spouses can dispose...
Continue ReadingAdult guardianships are sometimes necessary when an adult becomes incapacitated and the adult can no longer handle his or her financial or medical business. If there is no durable power of attorney in place, the guardianship becomes necessary. The court is the institution that is in charge of appointing a representative to handle the matters of the adult. Generally,...
Continue ReadingThe number of people with elderly parents has exploded in recent years, and taking care of an elderly parent, or even two, may be difficult. Sometimes, the health of an elderly person will depend on his or her caretakers. Often, assigning a guardian is required to keep a person safe in old age. The guardian is often a child...
Continue ReadingMost people know that a will is a written document providing the last wishes of a person. It will detail how the person’s property will be given to his or her heirs. However, there are things many do not know about how a will is created or how it is used. 1. If a Person Dies Without a Will,...
Continue ReadingGovernor Cuomo recently accepted proposals from New York’s newly created Medicaid Redesign Team (“MRT”). While it is early in the process, and the proposals may not be implemented in their present form or at all, budgeting pressures at all levels of government make it likely that some changes in the Medicaid program will occur. Here are a few of...
Continue ReadingNote: Medicaid Law Update – October 2021 New York finally adopted several regulations that imposed a major change in Medicaid eligibility. These regulations also introduced a “look-back” period into New York’s state’s Medicaid program. A 30-month look-back provision gives the state the power to review the financial statements of anyone who is applying for home health care, private nurses,...
Continue ReadingThe cost of a Nursing Home in Long Island is generally $12,000 – $15,000 per month. This cost can deplete savings very quickly. As a result, proper planning is extremely important. There are three ways to pay for a Nursing Home. First, one can use their savings. Clearly not a great plan – especially if your spouse must rely...
Continue ReadingA Case Study in protecting your assets against the cost of long term care Mr. and Mrs. Watson are in their mid-seventies. Mr. Watson recently fell and injured his hip. He is home from re-hab and is doing better, but may require assistance in the coming years. Additionally, Mrs. Watson has just been diagnosed with the onset on Alzheimers....
Continue ReadingProbate is the process by which a Last Will & Testament is declared valid. When an individual passes away the named executor of the Will must file a Petition, along with the original Will, with Surrogates Court in the county where the decedent resided. Included with the Petition, the Executor must satisfy certain requirements. One such requirement is to...
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