Medicaid Planning in Advance of Changes to the Healthcare System By: Salvatore M. Di Costanzo, Esq. With Congress about to break for a two week Spring recess, the repeal of Obamacare appears to have stalled and remains uncertain. Notwithstanding, we must pay attention to the various proposals that have been put forth by the…
At some point, most people experience that enlightening moment when they realize there is a risk of losing their assets if they fall ill and require long-term care. Some will contact an elder law attorney and receive sound advice; others will contact their friends and relatives, who after all, usually know more than most attorneys…
If you are reading this article, it is likely that at some point in your lifetime you may have worked through the placement of a loved one in a nursing home. If not, there is a high probability you know of someone who has. With the cost of nursing home care exceeding $150,000.00 per year…
Estate planning documents need to be regularly reviewed. I often tell clients to review their estate plan every three to five years or upon the occurrence of a significant life event such as a birth, marriage, divorce or death. Documents should also be reviewed for changes in the law. One of the benefits to connecting…
If there is one unavoidable consequence of life and relationships, it is that our loved ones may fall ill at some point, whether it be a parent, grandparent, child, aunt or uncle. Sometimes it could be a tragic accident or disease that affects them, and other times it is simply part of the aging process….
I recently entered the world of beekeeping. When contemplating this new hobby, I obviously vetted my ideas with friends and family (not the neighbors). Their responses were comical and in all cases, far from the truth. Sitting down to write this piece I thought, this is no different than the practice of elder law. So…
In Yorktown, NY and the surrounding community, I often see the homestead as the single most valuable asset of an estate. The “American Dream” is to own a home, create memories there, and one day, leave it to your children. However, without proper planning, the dream can soon turn into a nightmare if nursing home…
In a perfect world, everyone would craft an estate and elder care plan well in advance of having to implement it˗ but the world isn’t perfect! I have had the opportunity to work on a fair amount of cases where clients, who had no estate or elder can plan, fell ill or became disabled. In…
Over the years, I have found that one of the biggest obstacles preventing clients from pulling the trigger on a Medicaid Trust is the perception that all control is lost over the assets being transferred to the trust. While it is true that legal title to the assets must be transferred to the trustee, a…
The Power of Attorney (“POA”) and Statutory Gifts Rider (“SGR”) are two of the most important documents drafted by an elder law attorney. The absence or deficiency of these documents increases the likelihood of a costly guardianship proceeding to have someone appointed by the Courts to handle your financial affairs. Moreover, the ability to implement…
