When discussing estate planning and Medicaid planning, the phrase “life estate” is sometimes mentioned, but what does it mean? A life estate is a form of joint ownership of a property that allows one person to remain in the home…
A living will, also known as an advance health care directive, is a legal document that stipulates what actions you would like medical professionals to take if you become incapable of making decisions. A living will is crucial for all…
There is a widely held belief that during the estate administration process, a creditor must file a claim against an estate within seven months after issuing letters by the Surrogate's Court. This is a misinterpretation of the Surrogate's Court Procedure…
A guardian is someone who is appointed to make crucial decisions for another person who can't make those decisions on their own. This may involve guardianship for minors, an adult with intellectual or developmental disabilities, or an adult who becomes…
We all love getting gifts. But sometimes, receiving a gift today may cost you later in capital gains taxes. So, when it comes time to passing your assets to your children and other loved ones, you should understand the pros…
Grandparents in love with their grandchildren – I am one of them. Our Ruby and Jo are so precious. So, we will do whatever we can to make our grandchildren’s lives the best. Not good or better, but the best…
A Health Care Proxy in New York is an estate planning or elder law document that allows you to appoint a trusted adult person to make medical decisions for you if you can't. This document is also used to provide…
If you are an estate trustee managing a trust or an executor of an estate that owns real property, you may need to sell the real property throughout the course of trust or estate administration. Before moving forward with the…
It is common for older adults diagnosed with dementia to lack the necessary resources to care for themselves over time. If you or a family member has received a dementia diagnosis, begin immediately to discuss and seek guidance for future…
A family member or friend may ask you to act as power of attorney to make medical or financial decisions on their behalf. This person may be planning for a time when they can't take care of their affairs due…