When you pass away, you want your assets to go directly to the heirs you choose. But when you only have a will, your inheritance goes through a probate court. Probate can take a lot of time and is open to the public. If you don’t want your heirs to go through that,...
Preserving & Protecting Your Family’s Assets & Legacy
Year: 2019
Common estate planning mistakes when one spouse dies
The death of a spouse can be a devastating event, and the emotional pitfalls can be even worse if there was improper planning or errors were made over the deceased spouse’s estate. Difficulties often arise if one spouse handled all financial matters, and the survivor...
What is a special needs trust?
Setting up a trust can be an important part of an effective estate plan. There are different types of trusts for estate planners to be familiar with which can help based on their unique situation and circumstances. One type of trust is a special needs trust for estate...
The value of having an advance health care directive
Planning for end-of-life is important to consider and can provide valuable peace of mind for the estate planner and their loved ones and family. Drafting an advance health care directive that reflects the wishes of the estate planner is useful, and understanding what...
Aaron Futterman Presents At The Amsterdam at Harborside in Port Washington, NY
Law Partner Aaron Futterman, CPA, ESQ presented last night to a large group of mental health professionals on elder law and estate planning at The Amsterdam at Harborside in Port Washington, NY. Topics included Medicaid misconceptions, Power of Attorney, Health Care...
What medical decisions can my health care agent make for me?
Regardless of your age or health status, it can be smart to use a health care proxy to appoint an alternate decision-maker. The purpose of naming an alternate decision-maker, called a health care agent, is to control who makes medical decisions on your behalf when you...
You may still need a will with a trust-based estate plan
For many people who are new to estate planning, the big question of concern is whether they should have a will-based estate plan or a trust-based estate plan. Both a will and a trust provide someone control over how assets get distributed after his or her death,...
How is Medicaid eligibility determined?
Medicaid is a healthcare coverage program that is administered jointly by the federal government and the Government of New York State. It provides coverage to adults, children, elderlies and those with disabilities. According to federal laws, states are required to...
Trusts as part of asset protection in New York
Sometimes, people in New York and other states see that assets that were acquired and maintained through years of hard work end up in state coffers after the death of the owner of those assets. Oftentimes, that happens due to inadequate estate planning. As many people...
How to choose your health care proxy
A health care proxy is someone that you authorize to make medical decisions on your behalf. Appointing a proxy can help ensure that you get the health care or medical attention you want or need, in the event that you are unable to communicate. A proxy will speak on...
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