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
Are Retirement Accounts Protected When on Medicaid?
Medicaid is a means tested government program. A person is only entitled to Medicaid if they meet certain strict income and asset requirements. The income and asset requirements vary by state, and further vary by program. The following will discuss how retirement accounts are treated when a New York State resident is receiving Medicaid long … Read More
A Gift More Than Just the Inheritance
I recently had two consultations back to back where both sets of prospective clients were seeking guidance on estate administration after the recent loss of a loved one. The dichotomy between the two cases was magnified by the appointments being one after the other. In the first meeting I was able to give the prospective … Read More
Millions of Americans May Lose Their Medicaid Coverage in the Coming Months
Medicaid’s temporary pandemic rules have ended as of April 1 which will mean termination of coverage for millions of Americans in the coming months. Medicaid, the government-provided health insurance that an estimated 85 million Americans are on, is a means-tested program. In order to qualify for Medicaid, there are specific resource and income rules that … 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