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…
Unfortunately, seniors are prime targets for financial abuse and scams. Sadly, the elderly are often taken advantage of by strangers — and sometimes even their own family members. That’s why it’s crucial that planning is in place to help seniors…
Legal disputes over wills and trusts, guardianships, and conservatorships can affect the authenticity of gifts and the ownership of family homes and land. The most successful approach to mitigating or avoiding probate litigation is carefully planning for the future. Comprehensive…
Parenting a child with special needs comes with unique responsibilities. Funding a special needs trust (SNT) with life insurance is one of the most important things you can do to provide additional monies while protecting eligibility for government benefit programs…
If you are a beneficiary of a trust or estate, or next-of-kin to a decedent whose estate is involved in a Surrogate’s Court probate proceeding, you should consult with a qualified attorney before signing any documents or waiving your rights…
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…
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…