As we age, the prospect of needing long-term care can be daunting. Whether it’s for yourself or a loved one, navigating the complex world of Medicaid and securing coverage for long-term care can be a overwhelming task. This is where the experience and care of an elder law attorney becomes invaluable. Applying for Medicaid long-term … Read More
What Happens to a Safe Deposit Box When A Joint Owner Dies?
Some people add another family member or close friend to their safe deposit box believing that it will make it easier for the surviving owner to access and take full ownership of the box after their death. However, safe deposit boxes with joint ownership can get tricky once a death occurs. Unlike with joint bank … Read More
Update on Estate Tax Exemption in 2024
What is Estate Tax? The estate tax is a tax that is imposed on property after your death, before it can be transferred according to the terms of your estate plan (or according to your state’s laws, if you don’t have an estate plan in place). Most people are not subject to estate tax at … Read More
New Law: Corporate Transparency Act of 2024
A new federal law went into effect as of January 1, 2024 that makes it harder for companies to hide their true owners. The Corporate Transparency Act requires nearly all companies in the U.S. to report their “beneficial owners” to the government. The aim of the law is to deter illegal activity by making company … Read More
Choosing the Right Agent For Your Health Care Proxy
A Health Care Proxy is a document that allows you to designate an individual to make health care decisions for you in the event you become incapacitated and unable to express your health care wishes. Often, people choose a close family member, which is most often the right choice, but not everyone gives enough thought … Read More
Am I Too Young To Start Estate Planning?
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
