For most people, receiving an inheritance is something to celebrate. However, for a nursing home resident on Medicaid, an inheritance may not be such welcome news. What Is Medicaid? Medicaid is a public assistance health insurance program for people who have limited means. For many older adults, or individuals with disabilities, Medicaid often serves to … Read More
Don’t Unstaple Your Will!
In estate planning, details are crucial. The seemingly innocent act of removing staples from a valid, properly executed will could lead to unintended and potentially catastrophic consequences. Let’s explore why an unstapled will might cause serious complications. What Is Your Will Used For and How Do Your Wishes Go Into Effect? A will is a … Read More
Is Divorce a Viable Strategy to Protect Assets from Medicaid Long-Term Care Costs?
As the costs of long-term care continue to rise, many couples find themselves grappling with how to protect their assets while still qualifying for Medicaid assistance. One strategy that sometimes comes up in these discussions is divorce. But is ending a marriage truly a good way to shield assets from Medicaid spend-down requirements? Let’s explore … Read More
Beyond the Dorm Room: Essential Legal Documents for Your College-Bound Child
As your child prepares to embark on their college journey, there’s an important aspect of their transition to adulthood that often goes overlooked: estate planning. While it may seem premature to consider such matters for a young adult, having certain documents in place can provide crucial protection and peace of mind for both you and … Read More
No, A Will Does Not Avoid Probate.
A common misconception is that a last will and testament avoids the probate process altogether. This is not the case. The reality is that a will must go through probate after someone’s passing for any assets remaining in their name, without a joint owner or beneficiary designation. However, having a properly drafted will in place … Read More
Gifting Money to Grandkids: How It Impacts Medicaid Eligibility
If you’re looking to help out your grandchildren financially, or simply wish to be generous, you may be wondering how gifting money could affect your eligibility for Medicaid long-term care benefits down the road. The short answer is that gifting can make you ineligible for Medicaid for a period of time due to the program’s … Read More
Protecting Your Home from Fraudulent Transfers
Owning a home is a major investment, and unfortunately, property fraud is a real risk that homeowners need to guard against. Fraudulent transfers involve someone illegally transferring ownership of your property without your knowledge or consent. This can enable scammers to take out mortgages against your home, sell it, or commit other fraud. There are … Read More
The Surprising (Religious) Marital Status That Can Upend Your Inheritance!
Couples who are married in religious ceremonies, but never follow through with a civil marriage may have unexpected inheritance rights under New York State law. This can result in unintended consequences, where children from a previous marriage are surprised to find their parent’s inheritance plans superseded. In New York State, if one spouse dies without … Read More
