Delaying Medicaid planning can have a dramatic effect on one's estate. If done poorly or not at all, there may be nothing left of your hard-earned assets to pass on to loved ones. It can also be quite complex. Qualifying for Medicaid in New York often involves...
Like wills and estate planning, most New Yorkers don’t give much thought to advance healthcare directives until later in life. While a catastrophic accident or terminal illness may seem unlikely, they are unfortunately a possibility for people of any age. This could...
A client of mine was in a car accident. The other car crossed over the double yellow lines and hit her head on. She hurt her shoulder and her hand but discounted the hand as the x-ray showed arthritis. She is a PA and made that determination on her own. In reality,...
Business owners, particularly small business owners, often learn hard lessons on the fly while turning a promising idea into a profitable reality. The possibility of lawsuits, divorce or bankruptcy is the last thing you want to consider while making your dream come...
As you may know, as soon as you reach 65, you automatically are entitled to Medicare. Medicaid, on the other hand, is something you need to apply and qualify for. You might have heard about Community Medicaid limits on income and resources. For the purposes of this...
For those New York residents who are in need of long-term care, New York State offers two Medicaid programs to cover the cost of such care. There is Community Medicaid, where the care is customarily administered in the person’s home by an aide, and Chronic Medicaid,...
A living will and a health care proxy, which both fall under the umbrella term “advance healthcare directive,” sound like they cover the same situations, but there are key distinctions. Living wills These are your detailed, comprehensive written instructions for what...
Planning for the future starts with an important step — creating an estate plan. It's not merely about preparing for the unknown; it's a blueprint for the legacy you leave behind. A well-thought-out estate plan is a gift to yourself and your loved ones, offering peace...
The internet can be both a resource and a liability. Searching for asset protection advice online, like searching the internet for medical advice, could end in prudent information or complete falsehoods written by artificial intelligence. Sometimes, bad advice is...
A Last Will & Testament and a Trust are two common estate planning documents. Each requires the creator (the Testator in the case of a Will, and the Grantor in the case of a Trust) to name at least one person as the fiduciary, who will manage and administer the...