Why Create A Power Of Attorney?
What is a power of attorney? For so many reasons different persons appoints other persons to act on their behalf at certain points. This means they give their power of attorney to this person they appoint. A power of attorney (POA) simply put, is a legal document in which you choose or appoint someone not […]
What is a Special Needs Trust?
Special Need Trust A special need trust is almost identical to the trust you know. However, there exist a huge difference. A special need trust is a legal arrangement and fiduciary association that allows a physically or mentally incapacitated individual or an individual with chronic illness to obtain income without diminishing their eligibility for the […]
Medicaid Asset Protection and How It Works
Catering to an elderly loved one is not as easy as it seems. There are a lot of plans to be done, several paperwork to be filled all to ensure that the right provisions are made for any situation that may arise along the way. As an senior or an individual related to a senior, […]
Estate Planning is more than creating a Will
Some people believe that estate planning is just all about creating a will, and nothing more. However, the truth is that there is more to estate planning than creating a will. Estate planning involves the creation of other legal documents like beneficiary designations, power of attorney, healthcare power of attorney, trust, etc. I understand that […]
What Are The Types Of Home Care Available?
Nursing home costs are very high in New York City. Because of that, most seniors prefer getting their care at home. Their family member may even be their care giver, so it makes things far much easier and cost-effective. New York Medicaid has therefore provided different types of home care for its participants depending on […]
Can an irrevocable trust be used to protect assets when applying for Medicaid?
An irrevocable trust allows you to avoid gifting or lavishing your assets to be eligible for Medicaid. Assets in this type of trust aren’t yours, and you must designate an independent trustee. You may decide to state that the trust assets be transferred to your spouse and/ or other loved ones upon your death. For […]
Signing A Power of Attorney Without Sparking A Feud
P.O.A estate deed needs to be properly signed for validity. A wrongly signed estate plan might result in feud and confusion of duties and the identity of the principal and the agent or proxy. This confusion may force the surrogate courts in NY to term the P.O.A deed as invalid for it fails to communicate […]
Look Back Penalty Period in Bronx City
According to recent studies, health care cost for seniors are skyrocketing at a rapid pace. In addition, based on New York State’s office of Health Insurance Program, a year in a nursing home can cost an individual more than $145,000. In some locations, there are facilities where private pay rates are more than $200,000 annually. […]
Does A Will Keep An Estate From Going Through Probate?
You possibly may have heard that if you do not do estate planning, the court will decide who gets a share in your estate during a court process known as probate. Consequently, those who you would have preferred to get the most inheritance may end up with the least because you did not express your […]
Estate Planning Attorneys Brooklyn, NY
Estate planning, no doubt, is one of the most underrated plans on earth. Even as this plan is quite important, there are a lot of people out there who are yet to plan their estate. Of course, these people may have a few reasons why they haven’t taken the bold step yet. In fact, some […]