We often see clients with concerns about loved ones who receive government benefits such as Supplemental Security Income (SSI) and/or Medicaid. Since SSI and Medicaid have very strict rules as to how much money and how much income beneficiaries can…
There are three types of guardianship proceedings in New York State: Article 17 - Guardianship of minors. Article 17A - Guardianship of adult individuals with intellectual or developmental disabilities. Article 81 - A mental hygiene proceeding for adults who had…
Recently, I was helping a couple with planning. Unfortunately, the husband passed away about two weeks ago. After he died, the family realized that he had one bank account that was in his name alone, with about $3,000 in it. They did not realize this before he passed, otherwise they would have taken care of it.
Today (March 6, 2017) marks the last day a fiduciary of a trust or estate can make a distribution from the trust or estate, and still take the 65-day election on the fiduciary income tax return. The general rule is,…
On Long Island, a tax break affecting 35,000 Nassau County seniors was not renewed this year. Recently, Nassau County let a long-standing property tax abatement expire without any notice to the recipients of the abatement. Approximately 35,000 seniors, all earning…
Reporting the sale of real property could be either really complicated or relatively simple, depending on the facts and circumstances. The type of property will also impact the manner and type of taxes that need to be paid. There may…
Assisted living facilities can often be an excellent option for a person who is interested in residing in a place where he or she can receive supervision or assistance with Activities of Daily Living, and where the resident is monitored…
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…
A 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…
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.