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Your loved one with special needs must follow the rules in order to remain eligible for certain government programs. A pooled trust provides the beneficiary the opportunity for a better quality of life without jeopardizing the benefits of programs such as Supplemental...
On April 7, 2020, New York State made changes to the qualification rules with respect to community Medicaid benefits (e.g., home health aides). The new law now imposes a 30-month financial lookback for individuals applying for community Medicaid benefits. This law...
As you get closer to the age of retirement, you may look more into programs like Medicaid. You know the cost of aging may spiral out of control faster than you realize, and you want to make the transition easier and affordable. The CPA Journal explores common Medicaid...
Past posts on this blog touched upon the fact that a potential tax liability is an expense that you should include in your estate plans. Indeed, you could potentially face a tax liability from both the New York state government and the federal government. Like you,...
From the desk of Barrie E. Bazarsky, Esq. In my last blog, I discussed no fault coverage. Here, some other aspects, specifically bodily injury (BI) and how it relates to my favorite coverage, supplemental uninsured/underinsured coverage (SUM) will be explained. When...
When you create your estate plan, you will focus on many different components at a given time. For example, your will and trust are two separate pieces that will require their own time and attention. One overall category of importance are the key figures in your will....
The following is a guest blog by Henry Montag, CFP. Most Individuals purchase a life Insurance policy, place it in their safe or bottom left desk drawer, and await the bill so it can be paid and mailed to the Insurance company to maintain their coverage. Most...
From the desk of Barrie E. Bazarsky, Esq. In a previous blog, I mentioned automobile insurance coverage. When I give seminars, I usually include this topic. This is an important topic I discuss with my clients. Why? Because all motor vehicle owners must have...
Planning for where your loved one will live in his or her last years is often a very fraught decision. One of the things that many families concern themselves with is how much a nursing home costs. Some Americans believe that Medicare will cover their nursing home...
When you have a child with special needs, you may need to take extra steps when working on your estate plan so that you may preserve your child's eligibility for government help. Your child’s ability to collect certain types of benefits, such as Medicaid or...
