It is never too early to think about your estate planning. Many people think that estate planning is a matter for the elderly, but that is not true. While people with greater assets often think about what will happen to them when they pass, it could be just as beneficial for the young to do … Read More
Don’t Wait to See an Elder Law Attorney
Thankfully, this is not a frequent scenario, but the seriousness is worth writing about nonetheless. A child or spouse calls the office of an elder law attorney. The caller’s loved one is about to be discharged from the hospital or short term rehabilitation, and upon the recommendation of a social worker, is urged to consult … Read More
NYS Banking Law Regarding Joint Accounts
A bill recently passed the senate and is now in the Assembly amending New York State Bank Laws relating to joint accounts. Until now, according to Banking Law Section 675, a deposit made to a joint account in New York State has been considered to be equally owned by the individuals on the account title, … Read More
Why it is Better to Include Your Child with Special Needs in Your Estate Plan and Not Disinherit Him or Her
An old fashion approach to estate planning with a disabled child was to disinherit the child and leave the estate to the other child(ren) who would then “take care of” their sibling. Time and experiences have exposed the pitfalls and dangers of such planning. Even with the most trustworthy siblings and the best of intentions, … Read More
Do I Have to Transfer Everything into a Medicaid Asset Protection Trust?
Some people are aware of the concept of Medicaid planning but are very reluctant because they are not ready to transfer their assets into a trust or as some put it, “give all their assets over to their children.” Medicaid planning is not all or nothing. A Medicaid Asset Protection Trust is an irrevocable trust … Read More
Who inherits my estate if I don’t have a will?
Over your lifetime, you probably have accumulated a variety of worldly possessions. Your possessions may include a house, apartment, or multiple properties, a car, boat, or additional vehicles, money in the bank and maybe even under the mattress, investments of all kinds, retirement accounts, corporate interests, artwork, jewelry, a coin or stamp collection, and so … Read More
What is the difference between SSI and SSDI?
The Social Security Administration has two programs under which a person with a disability can receive a monthly check to help with the cost of their living expenses. One such program and form of disability payment is called Social Security Income (SSI) and the other is known as Social Security Disability Income (SSDI). Often, people … Read More
Update! Medicaid Community Care Lookback Further Delayed
October 2022 Update Update on the Community Medicaid Lookback! New York State Department of Health has announced that it will not be implementing the Community Medicaid 30-month lookback earlier than March 31, 2024. In alignment with the requirements under the American Rescue Plan Act relating to Home and Community Based Services, as well as the … Read More
