New retirees are well served to pay close attention to various financial considerations, which are commonly overlooked at the time of retirement. This article reviews some of the most critical estate planning issues that you should make to address either on or before when you retire. # 1 –…
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New York Estate Planning & Elder Law Blog
A Quick Review of Medicare Changes in 2021
Many older individuals in the United States depend on Medicare to pay for health care needs. It can be challenging to determine what’s covered under Medicare and how much it costs. To make matters even more complex, there are various changes to the Medicare system each year. For example, at…
Some of the Most Notable Estate Planning Myths
Data shows that a troublingly large number of Americans do not have estate plans. Besides the challenge presented by not having an estate plan, many more Americans are failing to learn even the basic details about how estate plans function. In the hopes of clarifying some of the most dangerous…
Appreciating the Medicare Five-Star Nursing Home Rating System
One of the most important elder law decisions is picking the best nursing home. While this decision is often financially motivated, it’s also critical to find a facility that offers the best possible care to fit your needs. Unfortunately, not all nursing homes are capable of meeting everyone’s needs. To…
Understanding How Federal Initiatives Will Impact the Future of Medicaid
Medicaid is a primary payment source for various long-term medical care solutions in the United States. In many situations, Medicaid is utilized to pay for residential care facilities. Deciding that one needs to transition to a nursing home, however, is rarely an easy decision and many elderly individuals attempt to…
Readying Your Retirement Plan for Pending Tax Changes
Following the passage of President Biden’s COVID-19 relief bill, the administration began to focus on what tax changes to implement to help pay for this support measure. These tax changes are anticipated to be wide-ranging and significant. This article reviews just some of the most substantial of these likely changes…
Six Pet Considerations for Estate Planning
The Covid-19 pandemic has led to a larger than usual number of people adopting pets. After all, stay-at-home orders reduced the chances that people had to interact with others and pets began to play an increasingly more important role as companions. Data compiled from PetPoint reveals that animal welfare organizations…
What Makes Estate Planning Critical
Many people associate estate planning with the extremely wealthy, but in reality, most people benefit from creating a strategy for how their assets should be handled. Anyone who has anything to leave behind needs to create an estate because an estate plan will function as a guidebook for how anything…
Understanding How Divorce Impacts Your Estate Plan
As Bill Gates prepares to navigate the divorce process, divorce has again entered the public consciousness and caused many people to question the nature of how marriages dissolves and how it impacts various aspects of our lives. One often overlooked aspect of divorce is how it can impact overall plans…
Ways to Avoid Retirement Savings Tax Issues
Taxes continue even after you retire. Choosing not to pay attention to the possibility of taxes incurred during retirement could substantially lower your standard of living in retirement. To make matters even more complex, some of the common-sense strategies that people utilize to reduce taxes can lead to paying more…