“Protecting Your Future” has been Ettinger Law Firm’s slogan since we began in 1991. These words have deep meaning to us and our clients. Following are the eight ways an Ettinger Elder Law Estate Plan protects your future: Makes sure your assets go to whom you want, when you want…
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New York Estate Planning & Elder Law Blog
Second Marriage Planning
In second marriage planning, a co-trustee is sometimes recommended on the death of the first spouse. While both spouses are living and competent they run their trust or trusts together. But when one spouse dies, what prevents the other spouse from diverting all of the assets to their own children?…
Book Review: “SuperAging” by David Cravit and LarryWolf
Subtitled “Getting Older Without Getting Old” this new book starts with the premise “…imagine bringing a whole lifetime of knowledge, experience, skills, talent, relationships, wisdom (and, let’s face it, money) to two or three more decades ahead of you in which to leverage all those assets into an ongoing wonderful…
Medicaid Asset Protection Trust (MAPT) v. Life Estate Deed
Clients often ask whether the home should be deeded to the client’s adult children, while retaining a life estate in the parent or whether the Medicaid Asset Protection Trust should be used to protect the asset. While the deed with a life estate will be less costly to the client,…
Spousal Refusal – Just Say No
Spousal refusal is a legally valid Medicaid planning option in New York. By way of background, certain income and assets are exempt from Medicaid if there is a spouse. Generally, the spouse at home, known as the “community spouse” may keep about $3,850 per month of the couple’s combined income…
Health Care Decision-Making
For health care decision-making, when a doctor determines you are unable to make medical decisions for yourself, New York has the Health Care Proxy. The proxy, or agent, may make any medical decision for you except one – they cannot withdraw life sustaining measures, such as feeding tubes or a…
Planning for Those You Are Responsible For
A client came in to see us for their follow-up consultation. The client shared that, in between their two meetings with us, the husband‘s brother had suffered a stroke and was now in a rehabilitation facility. He was a bachelor. He had no power of attorney or health care proxy. …
What is Elder Law Estate Planning?
“Elder Law Estate Planning” is an area of law that combines features of both elder law (disability planning) and estate planning (death planning) and relates mostly to the needs of the middle class. Estate planning was formerly only for the wealthy, who wanted to shelter their assets from taxes and…
Medical Aid in Dying (MAID)
According to the New York State Bar Association, “medical aid in dying is a medical practice that has been adopted in ten US jurisdictions (WA, MT, VT, CA, CO, D.C., HI, ME, NJ, NM) that allows a terminally ill, mentally capable adult with a prognosis of six months or less…
Tax and Medicaid Law Changes for 2024
For 2024, the exemptions for estate taxes rise to 6.94 million for New York estate taxes, and to 13.61 million for Federal estate taxes. The annual gift tax exclusion rises to $18,000. If your estate is, or may become, greater than the New York threshold, early intervention can avoid the…