One of the first things you and your soon-to-be spouse think of after getting engaged is planning the wedding and how your future will be with one another. Most likely, the last thing on your mind is your estate plan. However, an estate plan is critical when a significant life change happens – such as getting married. Whether you...
Continue ReadingWhen you draft your will, you have the best intentions for your loved ones. You want to provide for them, make sure they have a healthy financial future and have a little extra for what they need. Unfortunately, when wills go through probate, emotions, combined with high sums of money, take over. This can lead to fights among siblings,...
Continue ReadingAs a grandparent, you want to secure a healthy financial future for your grandchildren. One of the better ways to do that is through a trust. Trusts, in general, are excellent ways to pass assets to beneficiaries, and they can also help your grandchildren achieve their goals later in life. If you are considering leaving property or some of...
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 ReadingRetirement is around the corner. And while you have most of your retirement planning complete, the one area you put off is now knocking at the door. Medicare and Medicaid become staples for retirees in New York. Without them, you do not have coverage for prescriptions, medical costs, and even nursing care. Therefore, it is time to pull out...
Continue ReadingToday, you can do almost anything online. You can open a bank account, start a retirement, open a business, and more. With the plethora of do-it-yourself websites out there and articles showing you the steps, you might assume that you can create your estate plan using one of these sites and save yourself thousands. Unfortunately, estate planning is not...
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 ReadingThe probate process typically starts after your loved one passes away. The purpose is to administer the estate of that deceased person, and it gives an opportunity for heirs to challenge the will if they feel there was tampering. Most probates go through without issue. However, there could come a time when legal heirs want to challenge a will...
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 ReadingIf you have a family business or started a company that you would like to keep in the family after you pass away, you need to create a succession plan. Even if you wish to sell that business, speaking with an estate planning attorney about your business’s future is critical – and you can incorporate your business succession plan...
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 ReadingIf you are like most who are starting out with estate planning, you have heard of probate court – and you know that you want to do what you can to avoid it. What you might not have heard about is an ancillary probate. Ancillary probate is a secondary probate for your estate when you own property in another...
Continue ReadingIt is not uncommon to find a client that has property in multiple states. Usually, it involves an individual or couple that has their primary home here in New York but a vacation home elsewhere else in the country. Whether you have a vacation home in Florida for the warm summers or a snow-ready cottage in the mountains of...
Continue ReadingAn executor has a duty to the estate to complete the probate as quickly as possible. While sometimes it takes a few months, estates can take up to three years to complete. An executor is a party who oversees administering an estate after the individual dies. In New York, they can invest whatever amount of time necessary to settle...
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 ReadingNot sure which assets you should transfer into a trust? There are some you can transfer (and should), while others could cost you when it comes to taxes and penalties. Creating a trust is only half the battle. The most critical step to establishing a revocable trust is to fund that trust. Funding, in its simplest terms, means transferring...
Continue ReadingCreating an estate plan as a senior requires a more complex approach than someone in their 20s – including specific steps you must take to protect yourself. No one sets out thinking about mortality. But eventually, you will come to the point where addressing your mortality is critical for yourself and your loved ones. Ideally, you should start estate...
Continue ReadingMost people assume that it is natural to lose the ability to remember things as they get older. While memory loss does happen as part of the aging process, the intensity and how it affects you depends on the person and type of memory affected. Also, not all memory loss is part of dementia or Alzheimer’s Disease. However, a...
Continue ReadingMedicaid is a government-funded program that takes many forms. Many New York residents are surprised to find out how many options they have for Medicaid coverage, including Nursing Home Medicaid. Nursing Home Medicaid is one of the more comprehensive Medicaid programs, and it comes equipped with all Medicaid services from Community Medicaid and Community Medicaid with Long-Term Care. Also,...
Continue ReadingNew York offers various homecare and nursing home care solutions for aging residents. To determine which type of services you qualify for, you need to assess your budget. Depending on your income, age group, and disability status, you may be eligible for individual types of Medicaid coverage offered by the state. Community Medicaid is one of those options. You...
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