Elder Law Archives

You Did Medicaid Planning, You Created An Irrevocable Trust. Now, Make Sure The Trustee Files A Tax Return (Or Not)

Most irrevocable trusts created for the purpose of protecting assets from the costs of long term care (i.e., the nursing home) must file a Form 1041 (for IRS Federal filing purposes) and a Form IT-205 (for New York State filing purposes) only once - for the year of creation. This is not unusual. There are many types of irrevocable trusts and most of then must file these income tax returns each and every calendar year. However, some irrevocable trusts are grantor trusts and for most grantor trusts, filing Form 1041 (and IT-205) is optional. By the way, most irrevocable "asset protection" trusts are grantor trusts.

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 Medicaid. Community Medicaid will pay an agency that will provide home health aides to assist with Personal Care Services in the home. However, agencies providing Personal Care Services, in a cost-cutting attempt, often attempt to reduce client's benefits provided by reducing the amount of hours of care provided.

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 with personal care services in the home. Personal care services are the provision of some or total assistance with:

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 dies and to promote home retention.

Power of Attorney - Fiduciary Duties

You have been named agent under a power of attorney - what are your duties?

You have fiduciary duties. Pursuant to N.Y. Gen. Oblig. Law § 5-1505, an agent acting under a power of attorney has a fiduciary relationship with the principal. The fiduciary duties include but are not limited to each of the following obligations:

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