While many New York residents have spent their careers carefully saving for retirement, far fewer have given such careful thought to planning for their long-term health care needs. This is unfortunate, given the rising cost of such medical care and the high likelihood...
Preserving & Protecting Your Family’s Assets & Legacy
Year: 2017
Could a back-up plan help your trust-based estate?
As a well-organized person, you may have been exploring your estate planning options for some time. Because you certainly do not want to leave your family in a difficult position in the event of your passing, you want to make sure that you have made the best planning...
2018 Medicaid Regional Rates
Effective January 1, 2018, Medicaid regional rates for calculating transfer penalty periods for 2018 were increased from 2017. The regional rates are: Long Island $13,053 New York City $12,319 Northern Metropolitan $12,428 Rochester $11,692 Northeastern $10,719...
Medicaid planning for custodial care in New York
Many aging residents of New York believe that, after the age of 65, they will be able to rely on Medicare for their health care and assisted living needs. One issue that most people are unaware of, though, is that of something called "custodial care." Custodial care...
New York Medicaid planning and the caretaker child exception
As most adult children with aging parents in New York can likely attest, caring for a beloved elderly relative may sometimes feel like the equivalent of a full-time job. Of course, it's a job most loving family members are more than happy to do, but it can be a bit...
IRS Increases Gift Limits in 2018
In 2018, the IRS is increasing the annual exclusion from gift tax. In 2018, the first $15,000 of gifts to any person (other than gifts of future interests in property) are not included in the total amount of taxable gifts. More simply put, if you make a gift to a...
Community Medicaid In Hauppauge, NY: Medicaid Notice Challenged At Fair Hearing
When an individual needs help with the activities of daily living, to avoid a nursing home and remain in their residence (whether in Hauppauge, Commack, Kings Park, Smithtown, St. James, or any other Long Island town), a benefit worth obtaining is Community-based...
COMMUNITY MEDICAID IN SUFFOLK & NASSAU COUNTIES
PERSONAL CARE SERVICES AND FUNCTIONS IN SMITHTOWN, NY When an individual needs help with the activities of daily living, to avoid a nursing home and remain in their residence (whether it's in Smithtown, Valley Stream, or any other Long Island town), a benefit worth...
Community Medicaid in Nassau & Suffolk Counties – Personal Care Services in the Home
When an individual needs help with the activities of daily living, to avoid a nursing home and remain in their residence, a benefit often worth obtaining is Community-based Medicaid. Community Medicaid will pay an agency that will provide home health aides to assist...
Don’t Lose Your Restaurant Because of Unpaid Taxes: Three Things You Need to Know
Article By Attorney Karen J. Tenenbaum of Tenenbaum Law, P.C. in Melville, NY. A recent article in the Albany Times Union noted the high number of restaurants that shut down every year for nonpayment of sales or withholding taxes. Based on an analysis of media...