5 Action Items After Completing your Estate Plan

You finally did it! You met with an elder law attorney to “put your affairs in order”. Like most people, however, you have done nothing with your estate plan since meeting with your attorney other than to file your documents with the rest of your personal papers. As I tell any clients, your estate plan…

Vacation

I’m leaving for vacation. Can I write my last wishes on paper in case something happens? This is referred to as a holographic will. In the context of estate planning, holographic means something that is handwritten. Under New York law, a will is holographic when it is written entirely in the handwriting of the testator…

Parents want their children to be taken care of after they die. But children with disabilities have increased financial and care needs, so ensuring their long-term welfare can be tricky.

Hospital patients who need additional care after being discharged from the hospital are usually sent to either an inpatient rehabilitation facility or a skilled nursing facility, and Medicare offers very different coverage for each.

After a Medicaid recipient dies, the state must attempt to recoup from his or her estate whatever benefits it paid for the recipient’s care. There are steps you can take to protect your home.

Why can't I transfer my house to my kids to protect it

Simply transferring your house to your children is the least favorable planning technique in an attorney’s arsenal. The optimal way to protect your house is to use a trust. First, if you transfer your house to your children, you no longer have any rights to use an occupy the house. You become a guest in…

The Perils and Pitfalls of Owning a Co-op

The Perils and Pitfalls of Owning a Co-op We have all heard a horror story or two about co-op ownership. These stories usually arise out of actions or inactions taken by the Board of Directors (“Board”). For instance, a Board might implement a policy requiring a percentage of the floor to be carpeted. Some Boards…

Do you understand who will inherit your Estate if you die without a will?

Co-Authored by Joanna C. Feldman, Esq. Do you understand who will inherit your Estate if you die without a Will? We recently read an article about a multi-millionaire who died without having executed a Last Will and Testament (“Will”). Certain members of his extended family, with whom he likely had little to no relationship, inherited…

How should I deal with my personal belongings in my Last Will and Testament?

Personal belongings, such as jewelry, coin collections, furniture, photographs, family heirlooms, and other items of sentimental value are typically referred to as tangible personal property.  Some people are happy to let their personal belongings be part of their residuary estate.  Others prefer to identify certain items in their Last Will and Testament (“Will”) and designate…

Insights from the 2019 Tax Season

As many of my readers know, I am a tax accountant as well as an elder law and estate planning attorney. In fact, many of my legal clients become tax clients to maintain a well-balanced relationship throughout the years. The concept is that by using me to prepare your tax returns, you have access to…

living will vs. healthcare proxy

Co-Authored by Joanna C. Feldman, Esq. Long-term care insurance can be a great arrow in one’s quiver of tools when planning for the future.  But long-term care insurance premiums can be expensive, or, possibly more importantly, the coverage can be capped in a variety of ways. Many long-term care insurance (“LTCI”) policies have a maximum…

Estate-planning-assets-for-children

Co-Authored by Joanna C. Feldman, Esq. The short answer is no, but let’s go further. Medicaid applications to cover expenses in a nursing home are subject to the five-year look back period.  This means that any gifts, uncompensated transfers, or transfers for less than fair market value made by the applicant within the five years…

This is Attorney Advertising. This web site is designed for general information only.
The information presented at this site should not be construed to be formal legal advice nor the formation of an attorney/client relationship.

Show Buttons
Hide Buttons