Many people in New York won't qualify for Medicaid right away when they need medical care. Even after their income drops or ends abruptly, they may still have personal property that exceeds the limit for Medicaid applicants. Thankfully, certain assets, like the home...
When you are putting together an estate plan, one aspect of that plan should be your advance directive. An advance directive has two legal documents within it, your health care proxy and your living will. A health care proxy is important because it determines who will...
The executor will be responsible for initiating the probate proceeding of your will and fulfill the wishes that you expressed in it. Your executor will have a fiduciary duty to your estate, which means they will be held liable if they misuse your assets for their own...
The decision to seek an adult guardian is not taken lightly in New York. When an individual is deemed unable to make decisions regarding their personal life or financial affairs without placing themselves or others in harm’s way, the court will appoint a competent...
If you are working on your long-term care plans, two things you should include are your nursing home choice and guardian selection. You want to establish an individual who can care for you if you cannot take care of yourself, and you also want to take the time to...
If you are working on long-term care planning for yourself in the future, then one of the things that you should make sure you have a health care proxy. While choosing a nursing home and setting up a way to pay for your long-term expenses is important, having a health...
People with many different relationships can want to help a ward or vulnerable person. Parents, both biological and adoptive, serve as the legal guardian for their children while they are still young. Adults with special needs and those experiencing cognitive decline...
As a part of your estate plan, it’s smart to establish a long-term care plan. Your estate plan is there to help with a range of issues, like setting up your health care power of attorney and protecting your assets. It’s also there to assist you with Medicaid planning...
Far too often, individuals will take the time to develop a comprehensive estate plan that includes numerous contingencies and financial documents, and assume the plan will never need to be revised in the future. There are numerous significant life events that...
Estate taxes affect less than 1% of United States residents. While many people accumulate meaningful wealth during their lifetime, few amass truly significant fortunes. Yet, through sheer luck or shrewd investments, your estate could face taxation in the future. If...
