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Importance of estate planning
Estate Planning

Importance of estate planning

Estate planning boast of several importance. An estate plan can protect your loved ones it can also guarantee the financial security of those you care

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Is it illegal not to do probate?
Estate Planning

Not to do probate

Probate Matters & Legal Matters As of 2015, there is no crook best for failure to probate your will. This might also appear like an

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NYC immigration lawyer fraud
immigration

NYC immigration lawyer fraud

Immigration Lawyer Near Me On Fraud The New York City Immigration Attorney Fraud is an unfortunate occurrence that has been taking place in the city.

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What is Estate Planning

Seems like many people devote more time to planning a vacation, choosing a car to buy, or even selecting a spot to eat dinner than

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What is the Look Back Period in NY?
Estate Planning

What is the Look Back Period in NY?

Estate Planning Lawyer on Public Notice Process Estate Planning Lawyer similarly drove six individual outreach gatherings with customers and sponsorship. There are also managed care

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attorney wills and probate
Estate Planning

Attorney wills and probate

lawyer wills and probate attorney Attorney wills and probate attorneys specialize in helping humans and families to plan for their future. They are responsible for

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Wills And Trusts Attorney Brooklyn
Estate Planning

Wills And Trusts Brooklyn

As people get old, they begin to have concerns regarding how their hard-earned assets will be taken care of when they die. As vile as

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Probate Attorney Sullivan County
Estate Planning

Probate Attorney Sullivan County

A probate attorney is a state-licensed attorney whose area of specialization is rendering assistance to personal representatives — called executors — and also the beneficiaries

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Will
Estate Planning

Is My Will Legit?

Imagine carefully crafting your last will and testament, fully representing all of your wishes within it, only to have other people attempt to discard it

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Elder Law Attorney Long Island
Estate Planning

Elder Law Attorney Long Island

As you get older and look forward to retirement, nursing home, Medicaid and long term care, there are possibly many questions on your mind. This

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There may come a point in your life where you’ll need to have a special needs trust. Maybe you’ll be designated as a trustee or have a trust for your child. What does all this mean? A trust is a legal arrangement in which a person or a financial institution, the trustee, holds and manages assets for the beneficiary. This article focuses on a special needs trust.

A special needs trust (SNT) is a trust preserving the beneficiary’s eligibility for government benefits including Medicaid and Supplemental Security Income. Since the beneficiary doesn’t own the assets in the trust, they are eligible for benefit assistance programs with an asset limit. The trustee will supplement but not replace the beneficiary’s government benefits. Supplemental Need Trust are  created to help cover costs not covered by Medicare or Medicaid.

A first-party SNT, also called a “self-settled” or “(d)(4)(A) trust,” is funded with assets or income that belong to an individual with a disability. Federal law states the beneficiary must be under the age of 65 when the trust is created and funded. Usually funding comes from a personal injury settlement or inheritance.

A third-party SNT, is funded with assets belonging to a person that is not beneficiary. No funds of the beneficiary are used for the trust. Typically, funding comes from gifts, inheritance from and life insurance. This trust doesn’t have to pay Medicaid back if terminated, the person who created the trust chooses how the trust estate is distributed when the beneficiary dies.

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