A living will is a document that sets forth your wishes concerning the extent of medical care you want to receive. It operates during your lifetime if you become unable to communicate your wishes at the time a healthcare decision…
In Do I Need a MOLST Form? Part 1, we discussed who might need a MOLST form and in which situations. Below we’ll discuss how a MOLST form is executed.
There are certain medical requirements that need to be met in order for a MOLST to be in place for the patient with developmental disabilities.
A MOLST (Medical Orders for Life-Sustaining Treatment) form is a medical order form that tells healthcare providers a patient’s medical orders for life-sustaining treatment. The form includes medical orders and patient preferences regarding resuscitation instructions when the patient has no…
We often see clients with concerns about loved ones who receive government benefits such as Supplemental Security Income (SSI) and/or Medicaid. Since SSI and Medicaid have very strict rules as to how much money and how much income beneficiaries can have in their name, clients often want to be sure that their gift does not affect SSI and/or Medicaid benefits. It’s very important in this type of situation to implement proper planning that protects their loved one’s important benefits.
There are three types of guardianship proceedings in New York State:
Recently, I was helping a couple with planning. Unfortunately, the husband passed away about two weeks ago. After he died, the family realized that he had one bank account that was in his name alone, with about $3,000 in it. They did not realize this before he passed, otherwise they would have taken care of it.
In order to avoid probate, you may decide to either place your home in a revocable trust or place someone you trust on the deed, creating joint ownership. Each of these options have their own pros and cons, but which is a better safeguard?
Frank L. Buquicchio, a partner at Russo Law Group, P.C., has been appointed to the board of the Alzheimer’s Disease Resource Center (ADRC), a non-profit organization which raises money through various events and provides valuable service for Long Island families who are facing the challenges of Alzheimer’s Disease. The mission of the ADRC is “to support research that may lead to a cure for Alzheimer’s Disease; to provide care, support, and education programs for families in need; and to be advocates for local families who are coping with Alzheimer’s Disease and other dementias.”
The power of attorney is a crucial estate planning document—it allows a third party to step in and make important financial decisions for you, if you are no longer able to make those decisions for yourself. Having a properly executed comprehensive durable power of attorney can preclude the need for guardianship when it comes to your financial affairs.
People often say that you only need an estate plan if you have a lot of money and/or a lot of assets. That statement is not necessarily true.
Reason 1: An estate plan is also important for medical and simple financial decisions, especially for a spouse in the event of disability or incapacity. It makes the entire process a lot more stress-free and simple for the spouse.
If something happens to me, my spouse will inherit everything I have anyway, so why do I need to make an estate plan?