New York Estate Planning & Elder Law Blog

Lessons Learned from Northport Health Services v. Posey

Published on: September 4, 2019 | by Ettinger Law Firm

The Eighth Circuit Court of Appeals in Northport Health Services v. Posey recently reversed a lower court’s decision to grant summary judgment in a wrongful death action. One son in the Posey family in this case had signed the admission agreement of his brother at a resident rehabilitation center owned by Northport, which included an arbitration agreement. Northport then sought to compel arbitration and the district court granted this motion. The brother then appealed claiming that the district court misapplied the third-party beneficiary theory to the case because there was no underlying agreement between the Posey family and Northport.

Making the decision to place a loved one in a rehabilitation center after they are in the hospital can be a difficult decision. Reviewing the associated terms of any agreements concerning a loved one’s care are just one of the many things that you should make sure to do. Fortunately, by following the advice below, this process can be made much easier.

# 1 – Plan for Discharge as Soon as Possible

A Quick Guide to Revocable Trusts

Published on: September 2, 2019 | by Ettinger Law Firm

Estate planning is a difficult activity, but it’s a necessary one. Many people, however, that estate planning is only necessary for the richest of the rich. In reality, most people can benefit from some form of estate planning.

There are a number of different options when a person begins to consider how to create a successful estate plan. One of these options is a revocable trust, which can be used as a substitute for a will. Instead of having your assets proceed through probate after your death, assets are passed through a private entity referred to as a trust.

The trust is classified as revocable because it can be changed at any time. Revocable trusts exist in contrast to irrevocable trusts, which are capable of being used to “shelter” assets from an estate.

How to Retain Control over Medical Decisions if You Become Incapacitated

Published on: August 29, 2019 | by Ettinger Law Firm

One of the great challenges of estate planning is that most of the decisions made will be carried out after a person is no longer alive.

For some people, this means that they need not worry about estate planning because they will not be around to see how it is carried out. Other people worry about estate planning and whether their wishes will end up being carried out for the exact same reason.

The primary focus of estate planning is leaving instructions for your loved and trusted family and friends to make sure that things are properly looked after following your death or incapacity. To make sure that your healthcare decisions are properly carried out following your incapacity, this article reviews some helpful steps that you should remember to follow.

Estate Planning Advice for Remarried Individuals

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

No matter if you are in a second or subsequent marriage, individuals who have been previously married often face a number of unique issues that influence the estate planning process.

As a result, it is critical to take these factors into consideration when performing estate planning. By following these steps, a person can avoid a number of undesirable consequences including having unwanted beneficiaries receives assets.

The Role of Prenuptial Agreements

Deciding what State Law Should Apply to Your Trust

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

There are a number of complex issues involving the creation and administration of a trust. One of these issues involves which state’s laws should apply to the trust’s administration.

The best estate planning lawyers often discuss with clients the differences between available estate laws so the best possible results can be reached. During this critical phase of estate planning, it is important to have a number of estate planning issues in mind, which include the following.

The Role of Non-Resident Trusts

Is Aging in Place the Best Option for You?

Published on: August 21, 2019 | by Ettinger Law Firm

Transitioning to a nursing home or assisted living facility is a difficult period for most adults. A recent study conducted by AARP even reported that 9 out of 10 Americans prefer living in their own homes as long as possible rather than switching to a nursing home.

The concept of aging in place has let a number of older individuals stay in their homes rather than transition to a care facility. If you are planning on utilizing aging in place as part of your estate plan, the better you prepare, the more easily you will be able to navigate the numerous challenges that arise.

If the concept of aging in place interests you, this article discusses some of the important factors that you should consider about aging in place before making it part of your estate plans.

Affording Long Term Health Care

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

Millions of people find themselves in a middle class bind as they enter the midpoint of their retirement period. A good eight (8) to ten (10) years into retirement, many individuals are able to physically continue to live in their home and afford the upkeep and maintenance of their home with their retirement savings

Especially if the individual’s home is single-story, as health problems mature, many individuals will be physically able to maneuver their way around their home with little assistance. Multi-story homes become more difficult because climbing stairs may be a problem. Individuals in the midpoint of their retirement are generally still able to care for themselves. Many of them even hold permanent part-time jobs.

The sources of income for individuals in retirement are the fixed income they receive from a pension, an individual retirement account (IRA), Social Security, and 401K savings. Variable income is received through part-time job wages and other financial instruments like an annuity and cash savings.

The Role of Irrevocable Trusts: Taking Steps to Ensure that Loved Ones Receive Assets

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

One of the most important goals in estate planning is making sure that your assets are properly passed on to your loved ones.

While irrevocable trusts at first glance might seem like they involve too much control, when utilized in the correct manner, they can be a valuable tool in making sure that your estate planning goals are achieved.

Even though we all want to do what is best for our loved ones, it is also important to make sure that they realize the full advantage of any assets that you might pass on.

Medigap changes coming next year for future 65-year-olds

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

Beginning in 2020, Medicare supplement insurance policies, known as Medigap plans, will offer fewer choices to individuals who reach age 65 after January 1, 2020. Individuals who turn age 65 before 2020 will not be affected by these changes.

The ABCs of Medigap plains

Medigap plans, which are sold by private insurance companies, help cover cost-sharing aspects of Medicare Parts A and B, including copays, coinsurance, and deductibles. Some Medigap plans cover services such as hospitalization and medical care when you travel outside of the United States. Medigap policies generally don’t cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing. Source: Medicare.

Supreme Court Hears Estate Planning Case

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

The Supreme Court recently issued a decision in a North Carolina case, which will likely have a limited but substantial impact on estate planning and tax-related issues.

The case in issue concerned North Carolina’s taxation of Kimberley Rice Kaestner’s 1992 Family Trust for more than $1.3 million between the years of 2005 to 2008. The court later ruled that the state of North Carolina was not able to tax the trust because the only connection to the state that the beneficiaries lived there.

The Impact of the Supreme Court’s Decision