Most people need to trust professionals to handle certain financial and legal matters. When things go well, these relationships can be extremely beneficial to everyone involved. However, with this trust comes a level of vulnerability. When the trust is violated, it can have severe ramifications for the victim. Some professionals have so much power over their clients’ financial matters...
Continue ReadingTrust strategies are essential in estate planning, offering many advantages for managing and protecting your assets. Incorporating a gift to a trust ensures your wealth is preserved and distributed according to your wishes. Working with an experienced trust attorney is essential. They will guide you through the legal requirements and tailor the trust to your needs, giving you peace...
Continue ReadingUnderstanding what to include in a will is crucial for protecting your loved ones and ensuring your assets are distributed according to your wishes. It provides clear instructions for handling your estate, preventing confusion and potential disputes among family members. Although it might seem straightforward, drafting a will involves several legal considerations. An experienced will lawyer can ensure your...
Continue ReadingMany people receive Medicaid benefits based on how much they make and who is in their household. So, a Medicaid recipient’s marriage status is a big deal. If you’re newly married, congratulations! But while you’re embarking on the next stage in life with your new spouse, don’t forget to let the government know. The government doesn’t need a wedding...
Continue ReadingWhen someone dies, those left behind are responsible for managing the estate by paying off debts and distributing assets. In New York, the Surrogate Court generally appoints a personal representative—either an executor or administrator—to manage the estate. Once the representative finishes their work, the court typically orders the estate to pay administrator or executor fees. New York law sets...
Continue ReadingWhen someone passes away, transferring ownership of their property can be a daunting task. Understanding the transfer on death deed process and how an experienced attorney can assist you through each step is crucial. If you need guidance on transferring a deed in New York after a loved one’s death, the Law Office of Andrew M. Lamkin, P.C. is...
Continue ReadingUnderstanding Medicaid and how to protect your assets can be challenging, especially when considering the different options available. One such option in New York is the pooled trust for Medicaid, which can help individuals retain their eligibility for Medicaid while preserving their assets. This informational piece will guide you through the basics of Medicaid pooled trusts in New York,...
Continue ReadingWelcome to the Law Office of Andrew M. Lamkin, P.C., where we specialize in helping Long Island residents navigate the intricate world of estate planning. You’re in the right place if you’re curious about how New York estate law impacts your estate planning decisions. In this comprehensive guide, we’ll delve into the importance of estate planning, key concepts of...
Continue ReadingPlanning for the end of your life can be intimidating even before you factor in trusts and estates law. Before you dive into discussions about Totten trusts or spendthrift clauses, you need to know the basics. What is trusts and estates law? Wills and trusts are at the core of estate planning, where you make provisions for your care...
Continue ReadingEstate planning law is filled to the brim with legal jargon, including the terms “advance directive” (sometimes called “advanced” directives) and “living will.” Though these terms are often used interchangeably, advanced directive vs. a living will is a question of a category and a subcategory—a living will is a type of advance directive. Your advance directive or living will...
Continue ReadingEveryone knows they should plan for what happens to their property when they die. Yet, only some know how or even the options, resulting in many people failing to create comprehensive estate plans. Mastering effective and efficient estate planning is a skill that takes years to develop, but this guide, which you can use as an estate planning checklist,...
Continue ReadingAs we age, our ability to make decisions for ourselves can diminish despite our best efforts. It can be scary for the individual experiencing it and their loved ones. Sometimes, the only choice is to have someone else care for the person through a power of attorney or conservatorship. The difference between a power of attorney and a conservatorship...
Continue ReadingA life estate deed in New York is an estate planning tool that allows the current owner, the grantor, to designate a beneficiary, known as a grantee, who will inherit the property when the grantor dies. Upon the grantor’s death, the property transfers to the grantee named in the life estate deed and doesn’t have to go through probate....
Continue ReadingIf your parents died with a will, you may think it should be easy to close their estate. However, beneficiaries of a will can contest it and complicate the process. If your sibling is contesting your parents’ will, The Law Office of Andrew M. Lamkin, P.C. is the experienced Long Island estate planning lawyer who can guide you through...
Continue ReadingLast will and testaments hold significant importance in New York. They serve as crucial legal documents that outline individuals’s final wishes and instructions regarding the distribution of assets and the care of dependents upon death. Without a valid will, the state’s intestacy laws may dictate asset distribution, which may not align with the deceased’s desires. A will enables individuals...
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 ReadingThe anticipated 30-month Medicaid lookback period for New York community-based long-term care (CBLTC) services is now delayed until at least 2025. This postponement provides additional time for individuals to prepare for future changes. Presently, there is no lookback or transfer penalty for Medicaid applications covering managed long-term care (MLTC), home care services, or the Assisted Living Program (ALP). The...
Continue ReadingYour right to decide what happens to your body in a health crisis is paramount. Sometimes, a health crisis can incapacitate you and render you unable to tell healthcare providers what treatments you want them to administer. This is why advanced directives exist. What is an advanced directive? It is a legal document that obligates a healthcare provider to...
Continue ReadingIn New York, advance care directives, including living wills and health care proxies, are legal documents that allow competent adults to specify their preferences and wishes regarding medical treatments or appoint someone to make healthcare decisions on their behalf if they cannot communicate their wishes. Although New York recognizes living wills, no statutory framework governs the validity of these...
Continue ReadingThere is a lot of misinformation about what happens if you don’t have a will when you die. Contrary to popular belief, your property rarely passes to the state if you die without a will. Instead, it is distributed to your legal heirs according to the state’s intestacy laws. Heirs include relatives by blood or by marriage. Although intestacy...
Continue Reading