An annuity can be a useful tool for long-term care planning, but annuities are also complex financial products that are hard to understand. If purchasing an annuity, you need to consider your options carefully. 

A new report finds that almost no retirees are making financially optimal decisions about when to take Social Security and are losing out on an average of more than $100,000 per household in the process.

Reports of elder financial abuse continue to increase, and the elderly are particularly vulnerable to scams or to financial abuse by family members in need of money.

Using a Medicaid Trust Without Losing Control

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…

If properly drafted and executed, certain New York estate planning documents, such as a Last Will and Testament (“Will”) or a trust should be recognized outside of New York. For instance, if you sign a Will while present in New York and follow the proper formalities of a Will execution (e.g. at least two witnesses,…

living will vs. healthcare proxy

This question often arises where an individual requires some assistance with her activities of daily living but can largely function on her own. These are almost always homecare cases and can be tricky from a planning perspective. We utilize the professional knowledge of geriatric care managers, nurses or social workers to assess the functional limitations…

Best Lawyers Logo for Sal DiCostanzo

Partner of Maker, Fragale & Di Costanzo, LLP Recognized for Work in Elder Law  WESTCHESTER, NY (August 21, 2019) ‐- Maker, Fragale & Di Costanzo, LLP, a law firm which serves the Hudson Valley region and has office locations in Yorktown and Rye, NY, is proud to announce that partner, Salvatore M. Di Costanzo, has…

Should my College Bound Child have an Estate Plan?

It is never too early for an adult to implement an estate plan. The focus of a young adult, however, is much different than those of more senior generations. While the assets of a young adult may not always command intricate estate planning, strong consideration should be given to having your child prepare a health…

There are circumstances in which transferring a house will not result in a Medicaid penalty period, and one of those is if the Medicaid applicant transfers the house to a “caretaker child.”  

Older Americans with a life insurance policy that they no longer need have the option to sell the policy to investors. These transactions, called “life settlements,” can bring in needed cash, but are they a good idea? 

Hospice care is supposed to help terminally ill patients maintain their quality of life at the end of their life, but two new government reports find that serious problems in some hospices may be actually causing harm to hospice patients.

The Trump administration is officially rolling back a ban on the use of arbitration agreements by nursing homes, once again allowing nursing facilities to ask families to give up their right to sue over patient injuries or deaths. 

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