The Truth About Mortgage and Property Transfer
… My spouse died, and I am the surviving tenant by the entirety of our house? … My parent died, and I am the surviving joint tenant of our house? … I inherited a house from a relative and now…
The Difference between DNR and Living Will
Many individuals who seek counsel in our office come in ready to talk about a DNR (Do Not Resuscitate). They believe it to be a document that allows them to forgo life support in the event of a catastrophic event…
What Does Per Stirpes Mean in Estate Planning?
If you die without a Last Will and Testament or a Trust, the New York State laws of intestacy will govern the disposition of your property to your “distributees”, your closest living blood relatives (in priority order). However, if you…
How to Lower Property Taxes on Long Island
A constant concern here on Long Island is the continued increase in Property Taxes and the ever-increasing cost of living. The application for state program real estate tax exemptions (such as Basic STAR, Enhanced STAR or Veterans exemptions) may help…
Home Care: The Challenges of 24-Hour Coverage
With the Home Care industry already struggling to maintain proper staffing, and Medicaid restructuring their payment system a few years ago, the idea of getting 24-hour coverage by paying privately or through Medicaid has become cumbersome. As a result of…
Medicaid Asset Protection Trust: The Key to Protecting Your Assets
When advising clients regarding Medicaid asset protection planning, it is common to recommend the transfer of their residence (and other properties they may own) to a Medicaid Asset Protection Trust (“MAPT”). After five years, the trust assets would not be…
New Year’s Resolutions: Making Lasting Changes
It is that time of year again. Many of us will use the next couple of days to reflect on the past year and look forward to making a positive change in the new year. Often those promises that we…