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Estate Planning

Friday, July 26, 2019

Mom of Disabled Man Allegedly Tries to Access Trust Fund


Q: What are the duties of a guardian or conservator?

Special needs planning attorneys specialize in creating trusts that protect disabled individuals from losing their eligibility to government benefits while allowing their loved ones to give or bequeath them money through a trust, rather than directly, so they can live a higher quality of life.

Another legal doctrine employed in cases of special-needs or otherwise disabled individuals is guardianship proceedings. Guardianship, also called conservatorships, are legal arrangements to place a protected person under the supervision of a guardian. A guardian may be family, friend, or a court-appointed fiduciary. They are charged with either protecting the disabled person or protecting the person’s property and making important financial decisions regarding that property.
Read more . . .


Tuesday, July 16, 2019

Medicaid Planning Can Protect Assets from Reach of Nursing Homes


Q: Can I qualify for Medicaid?

No one wants to think about ending up in a nursing home. But New York and New Jersey Medicaid planning attorneys know that the earlier clients plan for the possibility of needing long-term nursing home care down the line, the better off they likely will be.

Comprehensive estate planning not only provides⁠—through a last will and testament⁠—how assets will be distributed after death, but also incorporates other legal documents to plan for incapacity prior to death. These documents include powers of attorney and healthcare proxies that empower trusted family members or friends to make financial and/or medical decisions in the event an accident or illness leaves the client unable to do so themselves. 

Medicaid planning can allow people to qualify for Medicaid—financial assistance from the government⁠—in the event they need long-term nursing home care in the future.
Read more . . .


Sunday, June 30, 2019

When Old Wills Leave Afterborn Children Out


Do unmentioned after-born children have a claim to a parent’s probate estate?

New York and New Jersey estate planning attorneys know that it might take an event as monumental as the birth of a first child to get some people to finally come in and prepare a comprehensive estate plan, including but not limited to a last will and testament that names legal guardians for that child in case the parents die before the child reaches majority age.

In such cases, that first-born child is often named as a beneficiary of the estate. But what happens if the parent has additional children born after the will is executed – – children who are not named in the earlier will because they did not exist?

State laws differ, but very often if the after-born children were not specifically disinherited in the language of the last will, the after-born children may have a claim to part of the estate for potentially being accidentally not included. Therefore, it’s important to make it clear in your will--if you intend to disinherit your children – – something you legally can do in virtually every state. ARead more . . .


Thursday, June 27, 2019

Medicaid Planning Can Protect Assets from Reach of Nursing Homes


Can I qualify for Medicaid?

No one wants to think about ending up in a nursing home. But New York and New Jersey Medicaid planning attorneys know that the earlier clients plan for the possibility of needing long-term nursing home care down the line, the better off they likely will be.

Comprehensive estate planning not only provides-- through a last will and testament-- how assets will be distributed after death, but also incorporates other legal documents to plan for incapacity prior to death.
Read more . . .


Monday, June 24, 2019

Protect Yourself as You Sell Your Home

New York or New Jersey homeowners preparing to sell their home will need to take steps to protect themselves.  As a homeowner in the area, now may be a great time to sell after several years of home prices steadily rising. You want to ensure you sell your home for the best possible value, while also sticking to important deadlines and knowing that at the completion of the sale, you can move forward without issues.  Our New York and New Jersey real estate sales attorneys explain some important steps you should take to protect yourself as you sell your home below.


Read more . . .


Monday, May 27, 2019

What should my adult children know about my estate plan?


Since they were born, you’ve taken care of them, provided for them, and even though they may be grown and gone-- and may even have children of their own-- the odds are they are an important part of your comprehensive estate plan

So how much do your adult children need to know-- if anything-- about your estate plan and/or your financial status? 

Every family dynamic is different. Some are close, while some are estranged.


Read more . . .


Friday, May 17, 2019

What is digital asset planning?


Seeing a skilled New York and New Jersey estate planning attorney to create an initial estate plan should be on the list of every person reaching the age of majority, regardless of their net worth. Many people erroneously believe they need to have a lot of assets or be married with children in order to need a last will and testament.

But a comprehensive estate plan also includes documents that


Read more . . .


Tuesday, April 23, 2019

Has estate planning gotten more complex?


Estate planning in New York and New Jersey has changed dramatically over the years as traditional estate planning doesn’t meet the needs of many of today’s modern, blended families.

For example, in the 1950s, when divorce rates were lower, the “standard” estate plan might have had each spouse leaving everything to the other and then the surviving spouse leaving everything to the couple’s children. But today, life is more complex and only “one-third of American households are ‘traditional’ (heterosexual, married, with children)”.
Read more . . .


Thursday, March 28, 2019

Am I responsible for my dead spouse’s medical bills?


New York and New Jersey estate planning encompasses far more than just a last will and testament (more commonly referred to simply as a “will”). Many people know that a will is a document used to designate legal guardians for minor children in the event the maker (or testator) dies while the children are still minors and that it also designates the beneficiaries that the testator would like to leave their property to after they are gone. 

But a truly comprehensive estate plan includes other important additional documents including but not limited to documents that Read more . . .


Thursday, March 21, 2019

Do I need a pet trust?


New York and New Jersey estate planning lawyers, as well as the public, will likely always remember the headlines surrounding the late hotel and real estate investment billionaire Leona Helmsley’s estate – – particularly the part where she left a $12 million trust fund to benefit her spoiled little Maltese dog, Trouble.

So, what do you plan on doing for Sparky, Fluffy, or Trigger after you are gone?

While most people consider their pets to be part of the family, they don’t often include them in their estate planning. But for those who live alone, or those who possess pets with extraordinary life expectancies--or those with excess riches-- it may be wise to include your pet in your estate planning.
Read more . . .


Thursday, February 28, 2019

Can a court-appointed administrator steal from an estate?


If New York estate planning lawyers could get one thing through the heads of those who have put off estate planning on the common but mistaken belief that everything they have will go where they want it anyway, it would be that failure to properly plan for death or incapacity could be financially devastating to them and their loved ones before or after their death. 

First, anyone with a minor child needs a will for many reasons, but most importantly, to


Read more . . .


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