New York State recently enacted a new law regarding the Community Medicaid program that will make it much harder for individuals to qualify for this important benefit. Not everyone is familiar with the Community Medicaid program, but this program covers the cost of services needed to allow a person to safely remain at home, when they otherwise might need care in a nursing home. The Community Medicaid program also covers many medical expenses, such as doctor visits and prescription drugs. Like … [Read more...] about Medicaid Laws Are Changing October 1 – And It’s Not Good!
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The Basics: Financial Power of Attorney
Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. Read on to learn more … [Read more...] about The Basics: Financial Power of Attorney
Removing Life Insurance from the Taxable Estate
Life insurance is included in the taxable estate typically. A trust is a great way to remove the value of life insurance from the estate. But, there are two potential traps in this. Read on to learn more … [Read more...] about Removing Life Insurance from the Taxable Estate
Be Aware of Medicare Gaps
As elder law attorneys, we are tightly focused on matters that are of interest to senior citizens. According to the U.S. Census Bureau, 10.6 percent of people in Rochester were 65 years of age and older in 2019. This is a very significant portion of the population, and these folks have concerns about the eventualities that they may face as time goes on. There are a number of different elder law issues that are a source of concern at the present time, including physical and emotional elder … [Read more...] about Be Aware of Medicare Gaps
When Is Probate Necessary?
Many people are not aware of the fact that the executor cannot act in a vacuum when you use a last will, because a legal process called probate will enter the picture. The executor would admit the will to probate, and the court would provide supervision during the process. This being stated, there are certain types of asset transfers that are not subject to probate. We will take a look at them in this blog post, and we will also explain the value of a proactive probate avoidance … [Read more...] about When Is Probate Necessary?
