New York Estate Planning & Elder Law Blog

Disinheritance Following a Second Marriage

Published on: January 1, 2020 | by Ettinger Law Firm

The remarriage rate has decreased over time for all individuals except those individuals who are 55 and older. For people who remarry but who also want to make sure that children from a first or previous marriage receive certain assets, it is vital to engage in estate planning as well as to exercise caution.

Otherwise, there is a risk that you might end up accidentally disinheriting your children. As a result, it is a good idea to follow some important estate planning to make sure that your children are not accidentally disinherited during the estate planning process.

# 1 – Engage in an Estate Planning Conversation

How to Stop Procrastinating and Write Your Estate Plan

Published on: December 28, 2019 | by Ettinger Law Firm

Many people understand the value of having an estate plan. They also understand that not writing these documents can place their loved ones in a much more difficult situation. For some reason, however, these people hesitate to write an estate plan. For one reason, most people do not like to accept that they too will one day pass away.

If you die without an estate plan or “intestate”, your estate will be distributed by New York’s probate laws, which follow a predetermined order of how assets should be divided. To encourage you to write your estate plan, this article reviews some important steps that will encourage you to write your estate plan.

# 1 – Realize Who Benefits from Estate Planning

How to Better Prepare Your Family for the Unanticipated

Published on: December 26, 2019 | by Ettinger Law Firm

It’s difficult to accept, but accidents occur every day. In addition to preparing for accidents, it is also a good idea to anticipate events like entering a nursing home. Because an event of this nature is almost a certainty, it is a good idea to take some important estate planning tips to prepare for what lies ahead.

As a result, this article reviews some important strategies that you should remember to implement to make sure that your loved ones have an easier time navigating matters when the unexpected happens.

# 1 – Plan Now, Not Later

Aging and Sleep

Published on: December 26, 2019 | by Ettinger Law Firm

As we get older, changes to our sleep patterns occur. In fact, a normal part of the aging process is different sleep. People often report that they have trouble falling asleep and staying asleep as they age. Every night, people achieve sleep, by experiencing periods of light and deep sleep. For the most part, during sleep, our bodies remain still as our minds and body functions race to repair and reset themselves. Some of us even dream, vividly experiencing feelings and sensations all while laying perfectly still.

The trouble with achieving deep sleep

As we age, older people spend more time in the lighter stages of sleep rather than in deep sleep. People often report that they were able to fall asleep but then woke up and could not return to sleep. Our bodies need deep sleep to perform functions on just about every organ, tissue, and system. Individuals suffering from chronic illnesses, like high blood pressure and cancer, need sleep to heal and get batter. Instead, older people report that the next day after poor sleep quality their mood and ability to perform active tasks is affected by fatigue.

Estate Planning Errors You Need to Avoid

Published on: December 23, 2019 | by Ettinger Law Firm

There are several reasons why people hesitate to or refuse to plan for death or incapacity. Failure to create an estate plan, however, can result in a person facing several complications which includes increased fines and placing additional stress on your loved one.

As a result, this article reviews some of the important pieces of estate planning errors you should make sure to avoid.

# 1 – Failure to Create an Estate Plan

Using Irrevocable Life Insurance Trusts to Avoid Estate Taxes

Published on: December 20, 2019 | by Ettinger Law Firm

The federal estate tax exclusion was recently raised to $11.4, but there are cases where large estates or businesses are transferred to beneficiaries and the recipients are subject to estate taxes. In some situations, the only way for your loved ones to pay for the taxes that accompany these assets is to sell the very assets that you hoped to pass on.

Several estate planning strategies that can be utilized to avoid the risk that your loved ones will end up paying estate taxes. One of the best methods to avoid these estate taxes is to use an irrevocable life insurance trust.

How Life Insurance Trusts Work

Continuing Care at Home

Published on: December 19, 2019 | by Ettinger Law Firm

Very few people look forward to living in a nursing home the last years of their lives. There is a growing segment of the population that wishes to remain in their homes as long as possible. To do so however, assistance is needed from medical professionals and home health aides.

Continuing care retirement communities

Continuing Care Retirement Communities, also known as CCRCs, are well known to retirees. The premise is that residents live on a campus-like setting in facilities that change as their care needs increase. For example, a CCRC resident may begin at independent living facility, shift to assisted living, and enter a memory-care unit or nursing home. Where a resident starts depends on their overall health, mental faculties, and mobility level.

4 Tips for Managing Digital Assets

Published on: December 18, 2019 | by Ettinger Law Firm

Before recently, the terms used by each individual website influence who has ownership and access to digital assets following a loved one’s death. These regulations greatly increased the number of regulations that loved ones must follow after your death. In many cases, these complex laws ended up having the result of beneficiaries losing digital assets that belong to the deceased family member.

Understanding RUFADA

Passed in 2015, the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADA) governed a person’s access to online accounts when the account owner passes away or loses the ability to manage their digital accounts.

Can I Get Kicked Out of My Assisted Living Home?

Published on: December 15, 2019 | by Ettinger Law Firm

A recent story out of Virginia recently received a great deal of national attention. An 83-year-old grandmother of five and great grandmother of five received a “Notice of Lease Violation” from the management office of her assisted living facility.

What was the infraction?

It appears that Ms. Elsie Cruey had taken too many cookies from a community event. Ms. Cruery had previously run afoul of the community house rules when she took a partial gallon of milk after breakfast. She had hoped to combine the milk with the cookies she took as a late night snack.

The Challenges and Advantages of Creating a Trust

Published on: December 15, 2019 | by Ettinger Law Firm

While trusts grow in their popularity and usage, some people still encounter difficulties in creating a trust. One problem that some clients face is banks and financial institutions who create challenges in funding a trust.

While this problem is not all that common, it is still helpful to understand why these challenges can arise. This article also reviews some of the benefits that people commonly realize through the creation of a trust.

Common Challenges involved with Trust Funding