Elder Law And Estate Planning Attorneys You Can Trust
Being named as a trustee comes with big responsibilities. A trustee doesn’t just hold onto property or money until it is time to dole it out. They have to manage the trust’s assets, keep the appropriate records, obey the terms of the trust and act in the best...
New York has a lot to offer, but moving to another state means tackling a long list of things that have to be changed. You must update your address, find new doctors and integrate into a whole new community. You also need to update your estate plan. That can easily...
One spouse’s financial security shouldn’t be threatened because the other spouse needs nursing home care. Unfortunately, Medicaid’s rules generally require the income and assets of both spouses to be considered when determining either spouse’s eligibility for...
We’ve discussed various unique aspects of the New York estate tax in the past. One of them is the tax “cliff” that an estate can fall off if its value exceeds 105% of the estate tax exemption amount – leaving the estate owing state taxes on its entire value. That...
When long-term medical care becomes necessary, unexpected state financial audits can put your home and life savings on the line. New York Medicaid checks your past financial gifts and bank records before approving care benefits. Knowing how state auditors inspect your...
New York is among the states that levies its own estate tax. Many people don’t have to worry about it because their estates are below the exemption amount (threshold). For estates of those who die in 2026, that amount is $7,350,000. That’s about half the threshold for...
When you’re creating an estate plan, you may be focused on ensuring that your assets are handled in the ways you intend. But, that’s not the only thing you need to think about when you’re creating this plan. You should also consider what will happen if you become...
A health care proxy is an estate planning document you can use in New York to select an agent to make medical decisions on your behalf. Typically, this does not change anything at the moment that you make the health care proxy. Instead, you are just selecting an agent...
People who understand that an older adult needs support can petition the courts for an adult guardianship. Both family members of the person in need of assistance and professionals who work with vulnerable adults could initiate guardianship proceedings. If the courts...
Everyone age 18 and older should have at least a basic estate plan in place. While some people require complex financial vehicles like generational trusts, many people can get by with just a few basic documents. One example of these is a Totten trust. Read on to learn...