New York Estate Planning & Elder Law Blog

How We Sleep

Published on: January 6, 2020 | by Ettinger Law Firm

“There is a time for many words, and there is also a time for sleep.” — Homer

Sleep, like food and water, is essential for humans to survive. Sleep affects almost every type of tissue and system in the human body. The brain, heart and lungs perform functions while you sleep. Similarly, your metabolism and immune system perform functions while you are sleeping. Sleep also affects your mood and ability to resist and fight diseases. Research shows that a chronic lack of sleep, or getting poor quality sleep, increases the risk of cardiovascular disease, diabetes, depression, and obesity. The next day you feel exhausted, tired, or fatigued after a poor night’s rest.

What is sleep?

Estate Planning Documents All College Students Need

Published on: January 3, 2020 | by Ettinger Law Firm

If you are a parent with a college-age child, you likely have many concerns. One often overlooked thing is estate planning. Even though some people think estate planning documents are only necessary for the elderly or wealthy individuals, in reality, these documents are helpful for people who are no longer able to care for themselves. While young adults are often focused on making the most out of their lives, it is an unfortunate truth that each year numerous young people end up incapacitated or killed as a result of emergencies. The best way to avoid undesirable consequences in these situations is to make sure that you have adequate estate planning tools in place. This article reviews just some of the critical estate planning documents that college-age students should consider creating.

Why Healthcare Planning is Important for College Students

Many college students are at least 18 years old, which means that they are viewed in the eyes of the law as adults who are capable of making their own healthcare decisions. As a result of the Privacy Rule of the Health Insurance Portability and Accountability Act (HIPAA), parents are at risk of being found without any decision-making abilities if something happens to the child and the parent becomes injured. This is because HIPAA applies even with a college student’s parents and even if the student is still listed on the parents’ medical insurance. To avoid being locked out of learning about a child’s health or decision-making abilities in case of an emergency, it is important to be mindful of either HIPAA or estate planning documents like financial powers of attorney.

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.