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Medicaid Asset Protection Trust
Given the escalating costs of long-term care (Orange County nursing homes currently cost an average of almost $12,000.00 per month), not surprisingly, people are searching for ways to shelter their hard-earned assets from the potentially devastating financial effects of a...
THE IMPORTANCE OF TITLE: The Pitfalls of Joint Ownership
When people think about estate planning, the last will they executed 20 years ago undoubtedly comes to mind. Most never consider that the way their accounts are owned will have specific, possibly undesirable after-death consequences. In fact, coordinating how you...
Joint Bank Accounts with a Child May Ruin Your Estate Plan & Your Family
The recent New York case of In Re Asch provides a cautionary tale of an all-too-common problem that often destroys a family. Mrs. Asch had signed a will that, as with most parents, left her probate assets equally between her...
What to Expect When Hiring an Elder Law Attorney
Meeting with an elder law attorney is a significant step. People should understand what the elder law planning process involves, and what your attorney will need from you to make the process the most effective it can be. First, don’t...
When Buying a Home, Is a Survey Required?
Some banks no longer require a survey of residential property being funded, making the need for a survey a decision for the homebuyer. Unless there is an existing survey provided by the seller that can be appropriately updated, the buyer’s...
The Cost of Elder Care: Options at a Glance
Proactively addressing the care you may require as you age is critically important. The results of failing to plan cannot only be financially devastating and result in a lack of proper day-to-day care for yourself, it can also cause significant...
An “Irrevocable” Trust May Not Be Irrevocable After All
The most common client request in my elder law practice is the desire to protect a residence and other assets from the high cost of long-term care, which in the Hudson Valley will often exceed $12,000 per month. Proactive planning...
Protecting Public Benefits After Receiving an Inheritance
I recently met with a woman in her late 50’s who about ten years ago suffered a traumatic brain injury (“TBI”) that left her disabled. “Barbara,” who was divorced with no children, had an insufficient number of countable work credits...