Council Post: Reviewing Your Financial and Estate Planning Checklist
Before talking about the review of your financial and estate planning checklist, do you have a plan up front for the event of incapacitation or death? It is a very difficult thing to plan for but the earlier the better as it will save you and those who care about you much stress in the […]
Look Back Penalty Period in Buffalo
When a person applies for nursing home Medicaid coverage, one of the crucial issues to observe when drafting the Medicaid paperwork is whether any gifts or transfers by the Medicaid applicant were made during the last five years. Medicaid requires applicants to reveal all financial transactions that were initiated during the last five years before […]
When does Power of Attorney Take Effect?
A power of attorney is one of the most important estate planning documents which is why it is important that you include it in your estate plan. A power of attorney will come in handy when you are incapacitated or unable to make important legal or financial decisions. This legal document allows you to select […]
Is it too early to plan?
Estate planning is your best shot at ensuring that your estate is well protected and distributed according to your wish upon your death. In addition, with a power of attorney, you can designate an individual who will make those crucial health care, legal, and financial decisions on your behalf should you become incapacitated. Failure to […]
What Happens If You Die Without a Will in New York?
DYING WITHOUT A WILL A will is a document that explains what your final wishes are pertaining to property, who the guardian of your children would be and other important ownership after the passing of the individual. Without this, your entire family would have to deal with all the decisions with who gets what which […]
NY Elective Share (Spousal Rights)
The Spousal Rights Spousal rights include owning joint ownership of half of your spouse’s belongings including the estate. That is only if the estate is under both of your names but if one passes here she gets half of any assets and the entire estate included. If your spouse hasn’t include you in his or […]
10 Benefits of Estate Planning & Important Details!
10 Benefits of Estate Planning & Important Details! Estate planning is the process of passing on your belongings to your heirs after your demise in order to safeguard your assets along with your loved ones while avoiding any kind of complications. While most people think that estate planning is meant for the wealthy and older […]
How Does A Pooled Income Trust Work In Brooklyn?
What is a pooled income trust? A pooled income trust, also commonly called a pooled trust, is a kind of Supplemental Needs Trust (SNT) created for disabled individuals. The funds in the trust can be used for their supplemental needs without disqualifying the individual for Medicaid eligibility. Hence, the disabled individual can get Medicaid benefits […]
Avoiding 7 Deadly Estate Planning Mistakes
Here’s 7 Easy Mistakes 1. Keep The Will Up To Date If you’ve written your Will about a decade ago, it is outdated and is exposed to errors during court which can cause delays and more fees. Other documents can be outdated as well. 2. Not having a power of attorney. An attorney has the […]
How does a pooled income trust work in Queens
A pooled income trust is not common, like a will. So there is a huge possibility that you don’t know what it is, or how it works in Queens City. For this reason, I’ll be giving you a little breakdown on what a pooled income trust is and how it works in Queens City. Before […]