Estate Planning Isn’t Just For The Elderly
One question I am often asked is the difference between a Last Will & Testament and a Revocable Living Trust. While many simply default to a Last Will as their primary estate planning document, the Revocable Living Trust has been gaining significantly in...
Special Needs Trusts, also known as Supplemental Needs Trusts (SNT), play an important role in the planning for a disabled individual. Continuing from my last post, here are a few additional SNT options: Pooled Self-Settled SNTA pooled self-settled SNT is managed by a...
Millions of baby boomers are coming of age. It has been well documented, particularly in recent years, that these individuals will soon have a significant impact upon our medical and long-term care infrastructure. Often overlooked, however, is the fact that baby...
The decision to transfer one's residence is often an integral part in asset protection and wealth preservation planning. This is especially true if there is concern that long term care costs (nursing home and/or home care) may dissipate his or her life savings in the...
Elder law attorneys have made significant strides in the past two decades educating the public as well as the legal profession on the importance of seniors engaging in advance planning to protect their life savings from the costs of long term care. While it appears...
The Center for Medicare and Medicaid Services has recently reported that approximately thirty percent of nursing home residents are being medicated with anti-psychotic drugs to control their conduct and behavior. While the issues relevant to behavior are more...
On April 21, 2014, the Uniform Guardianship Protective Proceedings Jurisdiction Act (“UAGPPJA”) will go into effect as Article 83 of Mental Hygiene Law of the State of New York. Signed into law by Governor Andrew Cuomo last October, the UAGPPJA will fill a...
Continuing from my last post, here are a few additional suggestions to ensure you're adequately prepared for the years ahead: 5.) Create a list of professionals involved in your personal affairs. Organize and list the names, addresses and telephone numbers of all the...
Between work and family, our busy lives often leave little time to focus on our own personal affairs, especially those related to our aging. I cannot emphasize enough, however, the importance of stepping back to assess whether you have adequately prepared yourself for...
All too often when I am reviewing the requirements for Medicaid Nursing Home eligibility and an asset protection plan with a client their immediate reaction is the same - they are never going to a nursing home and I need not waste any time discussing...