New York state has three types of guardianship proceedings to appoint a guardian. The need for a guardian may arise in various situations, such as when parents have a special needs child, someone is caring for a disabled adult after…
La ley de la Seguridad Social y los requisitos de las prestaciones pueden ser muy confusos. Muchas personas creen erróneamente que el SSI y el SSDI son lo mismo. Este artículo aclarará las principales diferencias entre estos dos programas distintos. Un abogado de...
Una de las cosas más frustrantes como abogado especializado en planificación de necesidades especiales es crear un plan de sucesión para padres que me dicen que necesitan desheredar a sus hijos con necesidades especiales porque reciben algún tipo de prestación gubernamental. Aunque...
Medicaid eligibility rules are complicated. Many people are confused by the lookback period. And often, people aren’t sure how asset transfers can make an impact when applying for Medicaid. The Lookback Rule New York’s law on Institutional Medicaid imposes a “look-back” period of…
Question: I created an Irrevocable Medicaid Asset Protection Trust. Do I need to file a tax return for the trust? Answer: Let’s start by defining the trust. Appropriately named, a Medicaid Asset Protection Trust (“MAPT”) is created to shield assets from Medicaid…
The fiduciary of an estate may use either the calendar year or the fiscal year as the “taxable year.” Typically, most fiduciaries elect to use a fiscal year because it gives them more time to think about estate taxes during…
Your loved one did their part and visited their NY estate lawyer to talk about medical concerns. A parent may be worried about declining health with age. A friend or sibling may wonder what would happen if they had a…
A trust identification number is essential for identifying a trust as a legal entity for tax purposes. Whether you’re establishing a revocable or irrevocable estate planning trust, having the correct trust identification number is crucial to properly manage your assets…
You may have heard or read the legal terms “by representation,” “per stirpes,” or “per capita” when researching estate planning. These terms may sound like irrelevant legal jargon, but they are very important when deciding how you would like your assets…
Sometimes when a loved one passes away, an individual who believes they inherited assets from the decedent will be told at a bank or financial institution that they need “Letters Testamentary” in order to collect those assets. The question most…