As we age, it's common to worry about the cost of long-term care, especially when you have limited resources or assets. Fortunately, Medicaid, a government-run program, is designed to aid those who need long-term care and cannot afford it. However, there are many...
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Elder Law
Why Establishing A Trust After Receiving An Inheritance Is So Important!
Losing a loved one is hard enough, but it can be even more traumatic when it leads to financial ruin. Unfortunately, this scenario often happens when people need help planning their estate correctly. In this blog post, we will explore the story of a client who lost...
Choosing the right person to serve as health care proxy
Adults generally have the legal authority to make their own healthcare decisions in New York. They can decline treatment if it violates their religious beliefs or seek elective care that is not strictly medically necessary. However, some people end up in a situation...
Planning ahead for the high costs of aging
The Baby Boomer generation, well-known for their ballooning birth rates in the postwar period, is now entering the stage of life where they may need care and assistance as they age. Many are moving into nursing homes and assisted living centers. Others are utilizing...
Life events that mean an estate plan may be outdated
Initially creating an estate plan is an excellent decision to plan for your future. It gives your heirs a blueprint that they can follow and instructions on how to do things like dividing your assets, splitting up a family business, dividing financial accounts and...
Why Planning Ahead for Second Spouses Is Crucial
Losing a spouse is one of the most difficult things a person can experience. Yet, when it comes to estate planning, many fail to consider the impact that remarriage can have on their children. If your parent passes away and their estate is left outright to their...
Securing Your Future: Who Will Be Your Health Care Agent?
You probably have your computer information backed up, but do you have a backup for you, yourself? If you were to lose the ability to make decisions for yourself, would you have someone in place that could pick up the pieces? New York’s Health Care Proxy Law gives you...
Medicaid Planning: Plan For Long-Term Care To Save Money For Your Family
Many people have saved for a lifetime in order to leave their home and their savings to their family. However, today it is not enough just to have a will, a health care proxy and a power of attorney in place to protect what you own for your family. Since everyone is...
Does Your New York Estate Plan Include A Healthcare Proxy?
New York residents should include health care proxies and living wills in their estate plans. When you think of estate planning, you probably think of wills, trusts, estate taxes and similar matters. You may not think about health care decisions. However, a health...
Continually Updating An Estate Plan Is Important
It isn’t always pleasant to deal with the specifics of estate planning. Creating a will or trust can be complicated and tedious. It can be hard to contemplate distributing a lifetime of accumulated assets. And it can be difficult to imagine a world in which you are no...