When you die, who will get your assets? There are several ways that property is distributed when a person dies. The distribution of the property that you own at your death (your estate) will depend on several factors, including how you owned it, what legal documents you have in place, and what your state’s intestacy … Read More
Annual Federal Gift Tax Exclusion Amount and Medicaid Lookback Period
Myth: If my annual gifts are under the annual federal gift tax exclusion amount, then no penalty can be imposed by Medicaid when I later need a nursing home or home care services. Fact: That is absolutely incorrect. Medicaid and the IRS treat “gifting” very differently and the two concepts are completely independent from one … Read More
Changes to the New York State Power of Attorney Law Are Now in Effect
Changes to the New York State Power of Attorney Law are now in effect as of June 13, 2021. On December 15, 2020, changes to the New York General Obligations Law in relation to the statutory short form Power of Attorney were signed into law, with the effective date of June 13, 2021. The new … Read More
Why You Should Protect Your Home When You Are On Medicaid
So you have successfully applied and been approved for Medicaid. Your assets are below the resource limit, and you have joined a pooled income trust to preserve your monthly income above the Medicaid limits. Why would you need an elder law attorney now? In order to qualify for Medicaid long-term care services, there are strict … Read More
Wishing to Avoid Probate Isn’t Enough
“My mom said she doesn’t want me to do probate for her estate.” The daughter of a deceased woman called me complaining that the bank wouldn’t give her access to her deceased mother’s bank accounts and she couldn’t get the money out. The bank accounts had no joint owner and no beneficiary designations (POD, TOD, … Read More
Changes to New York State Medicaid
October 2022 Update: Medicaid Lookback Further Delayed – Click here for more recent updates. Update! The implementation of the new 30-month lookback period for Community Medicaid in New York State has been delayed to April 1, 2021. That means that you still have an opportunity to preserve your assets without a penalty and access Community Medicaid, including … Read More
Five Reasons You Should Hire an Elder Law Attorney for Your Medicaid Long Term Care Application
The Medicaid Application process for long term care benefits can be complex and confusing. The process can be overwhelming in the best of times, and certainly when a family is already faced with the physical, emotional and financial stress of caring for a loved one suffering from illness or disability. When an individual needs long … Read More
My Loved One Just Died. How Do I Pay for the Funeral?
Tragically, this is a question I have been asked more than once in recent days. During this horrible COVID-19 pandemic, young adults, without any savings, are being left with the tremendous and heartrending responsibility of arranging a funeral for the untimely death of a parent, and do not have the means to pay for it. … Read More
