New York Estate Planning & Elder Law Blog

Lessons Learned from In Estate of Tillotson

Published on: May 10, 2021 | by Ettinger Law Firm

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.

The court of appeals found that the administrator had the power to file a motion seeking partition of community property. The appeals court noted that the state’s estate code provides that an executor or administrator through a written application can request the partition and distribution of an estate. The court also noted that if an intestate deceased spouse survives a child, the deceased spouse’s undivided one-half interest in the community estate passes to the deceased spouse’s children.

The appeals court went on to discuss the Texas estate code that permits a surviving spouse to seek a partition but noted that this code does not make this right exclusive to the surviving spouse. Consequently, the court of appeals affirmed the trial court’s order.

Considering Medicaid If You’re Under 65

Published on: May 5, 2021 | by Ettinger Law Firm

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 but have already experienced serious medical conditions like Alzheimer’s disease, strokes, or traumatic brain injuries. Unfortunately, the circumstances that lead a person to require long-term care are not always predictable. If you’re under 65 and interested in utilizing Medicaid, there are some important issues that you should consider.

Nursing Home Is a Valid Option for Someone Under 65

If a Medicaid applicant is below the age of 65, they have the option of establishing that they are disabled to qualify. Verification of disability involves “prima facie” evidence and might include disability determination by the Social Security Administration, disability determination by the Railroad Retirement Board, or proof of receipt of Medicaid benefits.

Advice on Selecting a Professional Trustee to Manage Your Trust

Published on: May 2, 2021 | by Ettinger Law Firm

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 to the trust’s terms.

While a trustee performs a critical task, many people have misconceptions about the role. For example, some people think that picking a friend or family member to serve as a trustee is a wise idea because it’s a potentially cost-effective option. In reality, there are some distinct benefits to selecting a professional trustee. This article reviews some of the important to consider when deciding whether to select a professional trustee or a loved one to function as a trustee for your trust.

Experience Can Prove Helpful

Utilizing Asset Location While Estate Planning

Published on: April 26, 2021 | by Ettinger Law Firm

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 like routinely updating your estate plan and speaking with an estate planning attorney if you have concerns about your estate. To make the most of your estate plan, it’s also a good idea to consider the various wise asset location strategies that you might utilize to make the most of your estate.

What Qualifies As “Smart” Can Change

To a degree, smart asset location is subjective. While one person might decide that their assets should only pass on to charity, another individual might decide to pass on their life savings to their children. Often, it’s not the question of how much is left behind but instead what is left after a person’s death or incapacity and who receives what.

Lawsuit Challenges Preventive Care Under Affordable Care Act

Published on: April 24, 2021 | by Ettinger Law Firm

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 also noted that businesses, as well as individuals who challenge the Affordable Care Act’s “first-dollar” coverage requirement for preventive services, have legal standing to do so.

This judge has also previously found the entire Affordable Care Act unconstitutional. The plaintiffs who initiated the case argue that religious and free-market objections exist regarding the Affordable Care Act’s requirement and seek to halt enforcement of the law.

Based on a recent order, it appears likely that the judge will rule in favor of the plaintiffs and end up interfering with the Affordable Care Act’s application.

Anticipating Potential Changes with Estate Planning

Published on: April 23, 2021 | by Ettinger Law Firm

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 in passing on assets to loved ones, it’s critical to understand the nature of these changes.

Changes Introduced by the Bill

The bill would lead to several critical changes in many of the country’s federal tax provisions, which include:

Addressing Depression Following a Dementia Diagnosis

Published on: April 21, 2021 | by Ettinger Law Firm

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. Some of the most common signs that a loved one is beginning to experience depression include apathy, increased feelings of sadness, social withdrawal, and suicidal thoughts.

After all, learning that a person has dementia or an associated condition can be troubling. The time that a diagnosis is made also appears to be influential in regards to suicide attempts. Many times, people who are in the early stages of mental decline are still capable of processing what dementia entails. These individuals might grow fearful of progressive cognitive decline and that they might end up “burdensome” to others. People in the early stages of mental decline are also more capable than individuals in full-blown dementia to successfully carry out a suicide attempt.

Despite these dangers, many caregivers avoid talking to elderly patients directly about any thoughts that they might have about suicide. Many times, loved ones and caregivers want to avoid asking such questions due to concerns that doing so will trigger suicidal thoughts. This, however, is often not the case and patients frequently are willing to acknowledge these thoughts, which can lead caregivers and loved ones to end up providing help.

3 Tips about Using Life Insurance In Your Estate Plan

Published on: April 14, 2021 | by Ettinger Law Firm

Many people realize that life insurance can play a valuable role if someone unexpectedly passes away. What a much smaller group of people is that life insurance can play a critical role in estate planning because it can be utilized to provide liquidity when needed.

With adequate estate planning, insurance proceeds can then be used to pay for things like estate tax. In the hopes that you make the most of life insurance in your estate plan, this article reviews some critical details to remember about utilizing life insurance.

# 1 – Avoid Common Mistakes

2 Estate Planning Issues for Business Owners

Published on: April 12, 2021 | by Ettinger Law Firm

Business owners led hectic lives. Understandably, some things on business owner’s “To Do” lists end up getting delayed. Estate planning, however, should not be something that ends up postponed. Not only is estate planning critical for business owners, but some unique issues arise. This article reviews just some of the unique and nuanced issues that business owners often must navigate while estate planning.

# 1 – Unintentional PPP Borrower Change of Ownership

To respond to the adverse economic impact of the COVID-19 pandemic, the CARES Act was signed into law in March 2020. As part of the implementation, the Small Business Administration as well as the Department of Treasury implemented the PPP Program so lenders could loan money to both small and medium-sized businesses to maintain their payroll as well as hire workers who were laid off and cover applicable overhead. These loans are forgiven provided the proceeds are used in accordance with applicable laws.

The Truth Behind 3 Myths Concerning Asset Ownership and Nursing Homes

Published on: April 10, 2021 | by Ettinger Law Firm

The Centers for Disease Control and Prevention reports that there are 15,600 nursing homes in the United States and 1.3 million individuals who reside in nursing homes. While nursing homes inarguably a critical role in the lives of many people, they also introduce countless complications into a person’s lives. As people plan on passing on assets to their loved ones, they are often left with various questions about how assets can be passed on to loved ones.

To make sure you are fully informed about asset ownership as a nursing home resident, this article reviews some critical details that you should understand. Even worse than knowing the answer to an estate planning question is receiving incorrect details. As a result, this article also focuses on dispelling some myths about estate planning.

Myth # 1 – Joint Owning Assets with Your Children Exempt Assets for Nursing Home Issues