Estate Planning

Steps to Obtain Medicaid in a New State of Residence

Steps to Obtain Medicaid in a New State of ResidenceA number of my clients have experienced a gap in their Medicaid coverage because they moved from one state to another to be closer to their families. It is important to remember that Medicaid is not portable. You cannot simply transfer it from one state to another. For example, if you are receiving Medicaid benefits in New York and you move to another state, the New York State Medicaid eligibility will be lost. Meanwhile, there could be a considerable delay before you are enrolled in Medicaid and start to receive benefits in your new home state.

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Safeguarding Your Will and Estate Plan from Legal Challenges

Safeguarding Your Will and Estate Plan from Legal Challenges by Frank Buquicchio

A recent meeting with one of my clients caused me to think about what it means to contest a will. Some people have misconceptions about who can mount a challenge to a person’s will or estate plan, and how those documents can be protected from such a challenge. 

Only spouses and children (known as legal heirs) have the right to challenge a will or estate plan under New York law. For example, if I was married with three children, my wife, and three children would be my legal heirs. I would still be free to leave my assets to whomever I wish, but my heirs will always have a legal right to contest the will. 

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What is Your Legacy? It’s Never Too Late to Create One!

John Brancaccio - What Is Your Legacy? It’s Never too Late to Create One!

Creating a legacy is a way to honor your life and benefit future generations. We always remind our clients—when it comes to estate planning: one size does not fit all.

When we meet with new clients to implement their estate planning, one of the many questions we ask include, “What are your estate planning objectives?” We ask this question because every client has different goals and thus, every client’s estate plan must be tailored to reach these goals.   

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How Will Decisions Be Made If I am Incapacitated? Part 2: Guardianship

How Will Decisions Be Made If I am Incapacitated? Part 2: GuardianshipIn a previous blog, we discussed the important documents—healthcare proxy, living will, and power of attorney—that allow you to appoint people to make healthcare, legal, and financial decisions on your behalf should you become incapacitated. If you have not finalized those documents before you become mentally or physically unable to make decisions, then a guardianship proceeding will take place.

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Caring for a Child with Special Needs? You May Be Eligible for Early Social Security Benefits

Caring for a Child with Special Needs? You May Be Eligible for Early Social Security BenefitsCaring for a child with special needs requires many resources, one of which may be Social Security Disability Insurance (SSDI).

When a parent of a child with special needs retires and begins receiving Social Security retirement benefits, the child may qualify for SSDI. A lesser known provision in the Social Security regulation allows the spouse of the retiree to also receive Social Security benefits regardless of whether they are of retirement age or not—so long as they are caring for the child with special needs at home.

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Are You Certain You Have Maximized Your Child’s Disability Benefits?

Are You Certain You Have Maximized Your Child’s Disability Benefits?I have met with many families who have children with special needs. One of the most important questions that we ask is, “Was your child declared disabled prior to the age of 22?” If the answer to that question is “yes,” there are a number of financial opportunities available that parents should be aware of.

Most parents know to apply for government assistance programs such as Medicaid and Social Security Income (SSI) on behalf of their child. However, when the child reaches age 18, an important social security insurance benefit—called the Disabled Adult Child (DAC) benefit—may be available to them.

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