In our last article, we discussed the ramifications of not having a succession plan in place for a business. In this article, we will discuss the role of a fiduciary of an estate, and how an individual in that role…
When someone owns a business and they pass away, the business does not just stop automatically—even if they are the top partner or sole proprietor. There are still employees who need to be paid, products that need to be sold,…
A trust is established by people looking to maintain control of their assets while avoiding the probate process, which is the process by which a family takes the decedent’s will to court. As part of probate, the court reviews the…
Our practice produces many important documents for elderly clients. Clients may forget where these documents are located within their home, lose track of the documents’ location over the course of a move, or may pass on without sharing the actual documents (or their location) with their children, executor, or guardian.
There are a few smartphone apps that can assist individuals and families to keep track of important documents such as wills or advanced directives (healthcare proxy, etc.). This tool works in conjunction with the app’s ability to catalog the contents of entire homes. This umbrella function helps with ongoing organizational efforts as well as moving assistance.
The U.S. Department of Labor (DOL) released its final fiduciary rule on April 6, greatly expanding the definition of fiduciary investment advice under the Employee Retirement Income Security Act of 1974 (ERISA), and creating new fiduciary standards for financial advisors…
There are some events in life that we can’t emotionally prepare for. They can come on suddenly and unexpectedly. But an estate planning attorney can help legally prepare for some of them. Here are some life events that can be…
The Department of Health, overseer of the Medicaid program in New York, recently issued GIS 16 MA/010 updating the actuarial life expectancy table. “So what,” you say? Let’s say Joan is applying for Medicaid benefits and she has a retirement…
No matter how much we try to focus on taking things day by day, the uncertainty of the future always seems to linger in the back of our minds. We worry about things like:
For most seniors, obtaining Medicaid to pay for nursing home care is a must. Very few people can afford to pay privately for extended long-term care, which is not covered by Medicare.
The nursing home may provide you with a list of attorneys to assist with the filing of a Medicaid application. It is suggested that you obtain three attorney references in writing.
A key question for the family to ask is: Do any of the attorneys on the list currently represent the nursing home?
Unless you have a crystal ball, it’s impossible to predict what the future holds. Should you become unable to make your own decisions, it is imperative to appoint someone to take care of your affairs and make healthcare decisions on…