Every year across America, more than 43 million people act as unpaid caregivers for a family member, usually an aging parent; residents of New York are no exception. Sometimes, this is as simple as an adult child overseeing issues like finances and medical care. Other...
Preserving & Protecting Your Family’s Assets & Legacy
Year: 2017
Good News for Surviving Heirs: Higher Standards Imposed on Mortgage Lenders
New guidelines have been promulgated by the Consumer Financial Protection Bureau ("CFPB") to make it easier to modify or assume an existing mortgage on a decedent's home. The goals of these guidelines are to reduce unnecessary foreclosures on homes after a borrower...
An advance healthcare directive can offer peace of mind
When an elderly parent or loved one is in need of hospitalization, it can be stressful for everyone involved. Seniors may be faced with difficult medical decisions they are no longer capable of making for themselves. Planning in advance for such an eventuality can...
Motivating your heirs with their inheritance
Through hard work and careful planning, you have built a life of which you can be proud. One of the great things about a bountiful estate is being able to create a legacy for your children and grandchildren. However, like many, you probably have certain family members...
New York elder care: estate planning just one issue to consider
People are living longer. While this is a blessing, it also means that, as an elderly parent or loved one ages in New York, there are a lot of arrangements to make, both legal and personal. From estate planning to Medicaid planning to power of attorney documentation,...
How an advance directive benefits New York loved ones
No one wants to think about falling ill or becoming incapacitated. Regrettably, this could mean that some families in New York are left to face difficult medical or financial decisions on their own because an incapacitated loved one previously failed to make his or...
Medicaid planning can help protect New York seniors’ assets
The average annual cost of a nursing home is $180,000. No matter how much they have saved, few New York families have the means to pay this price, especially if the stay is expected to last several years or more. At this point, many people believe they can turn to...