Eligibility Requirements for Medicaid
Though Medicaid is funded by the federal government, it is administered at the state level, and each state has its unique set of regulation of this program. The income and asset level allowed is different from one state to another. Thus, it is best you find out where your balance sheet falls in respect to […]
Is Estate Planning is dead? Why or Why Not?
Apart from planning the fate of your assets after your demise, estate planning was also oriented towards saving your assets from the federal and state estate taxes. However, courtesy to the new estate-tax exemption, one can be exempted up to $5.1 million and the federal exemption is $11.2 million as on January 1, 2020, which […]
Trusts and Estates Buffalo, NY
After your death, your assets will be managed and distributed based on what you have in your will. If you didn’t plan your estate while you were alive, the state government will step in. What will the state government do? You may ask. The state government will ensure that your estate is managed and distributed […]
How can an Elder Law Attorney be of Help?
Elder law attorneys are counselors for the elderly including their loved ones. Most lawyers who practice elder law are charged with a panoply of legal issues affecting an older or disabled individual, including matters linked to healthcare, long term care planning, guardianship, retirement, Social Security, Medicare/Medicaid, and other crucial related issues. Elder Law Attorneys are […]
Free General Power-of-Attorney
What is a General P.O.A? General P.O.A is a legal document that gives a trusted individual or an organization consent to manage legal and financial matters for you such as signing contracts, selling real estate accessing bank accounts, and even filing taxes for the principal. When you grant the control, you will be referred to […]
How Does The Medicaid Asset Protection Trust Work?
To be eligible for Medicaid in Long Island, you must have limited assets. What this basically means is that people who are financially strong with substantial income source cannot benefit from Medicaid. So how do you ensure that your “substantial income” doesn’t get eaten uo by your long-term care instead of passing down to your […]
State seeks to renew J-51 tax break that quietly expired
J-51, an expense motivation gave to proprietors who revamp private structures or convert business properties, unobtrusively passed last June after the City Council didn’t reauthorize it. Presently, with only a couple of days left in the state’s administrative meeting and no sign the city will resuscitate it; state administrators are pushing to by and by […]
Revocable Trust in Estate Planning
To create a good estate plan, it is recommended that you consider setting up a few estate planning document to ensure that you are well catered to after your death. In addition, these estate planning document can ensure that the transfer of your assets is smooth, timely, and done according to your wishes. One of […]
The difference between Medicaid and Medicare.
Medicare typically caters to seniors above the age of 65 and other disabled individuals. Medicaid, on the other hand, is a program that covers the healthcare cost of long term care for low income Americans who cannot afford the high cost of assisted living. Notably, Medicaid caters to people of all age unlike Medicare. It […]
What Is The Look Back Penalty Period In New York?
The Look Back Penalty Period is a concept associated with Medicaid eligibility. So before going into the former, let us first understand the latter. Medicaid Eligibility in New York Medicaid is a government program created for low income individuals, such that their nursing home and long-term care costs are covered by Medicaid. So even when […]