One of the most undesirable situations in the field of estate planning is a person becoming incapacitated or passing away without the proper estate plans in place. To die intestate means that a person passes away with no legal will. This means that if a person intestate, the distribution…
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New York Estate Planning & Elder Law Blog
Important Estate Planning Issues if You’re Moving Abroad
The Covid-19 pandemic has caused some people to leave the country. There also many other reasons why people choose to take residence in a foreign place including job opportunities or to live closer to loved ones. If you’re planning on moving out of the country, it’s critical to understand some…
Advice on Planning for Nursing Home Care Cost
Data shows that more than 11 million Americans currently need some type of long-term care due to chronic illnesses and conditions. Statistics also show that over a million Americans reside in long-term care facilities. Over half of these residents are between the ages of 75 to 94. Many times, long-term…
Lessons Learned from In Estate of Tillotson
In the recent Texas case of In Re Estate of Tillotson, the administrator of a deceased individual’s estate filed a motion to have the deceased individual’s husband turn over the deceased individual’s community property interest in several accounts. When the trial court granted the motion, the surviving spouse appealed. …
Considering Medicaid If You’re Under 65
Nursing home Medicaid requires recipients to either be over the age of 65 or blind or disabled. Unfortunately, an increasing number of families are searching for long-term care while the recipient is still below the age of 65. Many of these individuals are just a few years short of 65…
Advice on Selecting a Professional Trustee to Manage Your Trust
If you decide to create a trust as part of your estate plan, there are various tasks that you must successfully navigate including appointing a trustee who can oversee the trust. A trustee performs the critical task of both managing the trust and distributing assets in a manner that conforms…
Utilizing Asset Location While Estate Planning
Estate planning is a critical process in planning for your eventual death or incapacity. Unfortunately, however, too many people neglect estate planning or do the bare minimum. In reality, however, to make sure that your goals are achieved, it’s critical to treat estate planning seriously. This means engaging in activities…
Lawsuit Challenges Preventive Care Under Affordable Care Act
A challenge to the Affordable Care Act is still pending at the United Supreme Court, but other challenges against the law have also been introduced including one case in which a Texas federal judge suggested that most Americans receive preventive services like mammograms without charge. In this ruling, the judge…
Anticipating Potential Changes with Estate Planning
Senator Bernie Sanders recently introduced the “99.5% Act”, which is focused on the assets of the top 0.5% of wealthy Americans. This marks the first legislation introduced following President Joe Biden’s coming into office that would result in the lowering of the federal estate tax exemption. For many people interested…
Addressing Depression Following a Dementia Diagnosis
A new study reveals how devastating a diagnosis of mental decline can be. Researchers found that rates of suicide raise substantially in the weeks and months following a dementia diagnosis. Consequently, following such a diagnosis, patients and their loved ones should be alert to an increase in symptoms of depression.…