You should never delay implementing an estate plan simply because you may need to change it down the road. As long as you have the requisite mental capacity, you can always amend your estate plan as your life progresses. When you are young, you may only need a Power...
Preserving & Protecting Your Family’s Assets & Legacy
Year: 2022
How does Medicaid assess penalties against applicants in New York?
Because of the high cost associated with long-term care, most people who need such care look to Medicaid to pay for it. In New York there are two main Medicaid programs that cover long-term care: Community Medicaid (where the care is administered in the home by an...
How can you convince your aging parents to plan for Medicaid?
It can be a challenge to balance the respect you have for your parents with the need to proactively support them as they age. They may take offense when you make suggestions regarding how they manage their daily lives or finances. The suggestion, such as that they may...
Your retirement and the SECURE Act
The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) became law in 2019. As its name suggests, this law is aimed at increasing access to tax-advantaged retirement accounts and preventing Americans from outliving their assets. The Act makes it...
Do you still need an estate plan if you’re young?
While the definition of “estate plan” varies widely and the meaning of “young” is extremely relative, the answer to the question is a resounding YES! If you are over the age of 18, you need to engage in some form of estate planning. Proactively planning for...
Personal injury in older adults
As you may suspect or know, older people can be more prone to certain injuries. One type of injury that falls into this category is a head injury. I had an elderly client, in a fairly small motor vehicle, stopped at a red light. A very large SUV made a left but cut...
Recognizing undue influence in estate planning
Estate planning is an important and necessary endeavor for everyone, especially for your family members who are vulnerable due to cognitive deficit, physical frailty, or isolation. Those vulnerabilities may lead to manipulation of the individual by someone not...
Advantages of irrevocable “gifting” trusts
Individuals often wish to make lifetime gifts to their loved ones as part of their estate plan. They frequently desire to make direct gifts to their beneficiaries because it is less complex than creating and utilizing a Trust. However, a properly structured...
What you can do now to avoid probate later
One of the most fundamental estate planning documents is the Last Will & Testament. In a Will, the creator, or testator, can appoint an executor to settle the affairs of the estate, which includes, among other things, paying expenses and distributing assets to...
The value of a second opinion from a personal injury attorney
So, what if someone turns down your car accident case? I have a client who was in a car accident. She was driving a car, going straight and the other vehicle made a left turn in front of her. The other vehicle said it had a green arrow, and my client said she had a...
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