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Medicaid and Life Estates

Saturday, January 11th, 2014   10:04 pm |  Category:   Finance, Insurance, Legal  |  Add Comment  
Author:     posts:  16    Author's   bio

Life estates have historically been used as part of Medicaid planning. A life estate can be described as a form of co-ownership of property between a “life tenant” and a “remainderman.” To own a life estate means the person, referred to as the life tenant, has the right to the use and possession of the …more

Probate 101

Tuesday, December 24th, 2013   3:37 pm |  Category:   Legal  |  Add Comment  
Author:     posts:  16    Author's   bio

Many individuals don’t quite understand what the term “probate” means, but they have a notion that “probate” is something that they should avoid. Avoiding probate is not always a good idea depending on the circumstances of the matter.   Probate is the legal process by which assets of a deceased individual are distributed either according …more

A Cautionary Tale… Protect Your Hard Earned Money

Tuesday, December 10th, 2013   4:29 pm |  Category:   Legal  |  Add Comment  
Author:     posts:  16    Author's   bio

While many may not have the resources that Mr. Blum (below) had the rules about protecting your money still apply.   In the land of opportunity, many people have “made it” and made it big. Mr. Roman Blum did just that. However, having amassed close to 40 million dollars, he died last year at the …more

When to Appoint A Monitor For Your Power of Attorney

Saturday, August 17th, 2013   5:21 pm |  Category:   Legal  |  1 Comment  
Author:     posts:  16    Author's   bio

The power of attorney law in New York has been in effect since September 2009 (check your State’s POA law for provisions relating to monitoring). Through the legislation, many provisions were added to protect the financial well-being and safety of the individual granting the powers (the “principal”). There was significant concern that under the former …more

May Someone With Dementia Sign a Will?

Sunday, July 28th, 2013   11:12 pm |  Category:   Health, Legal  |  Add Comment  
Author:     posts:  16    Author's   bio

Millions of people are affected by dementia, and unfortunately many of them do not have all their estate planning affairs in order before the symptoms start. If you or a loved one has dementia, it may not be too late to sign a last will and testament or other documents, but certain criteria must be …more

Tailoring a Plan to Fit Your Needs

Monday, July 15th, 2013   8:57 pm |  Category:   Finance, Legal  |  1 Comment  
Author:     posts:  16    Author's   bio

Many clients have questions and confusion regarding which of the assets in their respective estates must go though the process of probate after their demise. Assets that are not held in a trust, held jointly with rights of survivorship or that do not have named beneficiaries must pass pursuant to a will, or under the …more

Lessening the Stress of Caregiving

Saturday, July 6th, 2013   4:37 pm |  Category:   Health, Legal  |  Add Comment  
Author:     posts:  16    Author's   bio

Taking care of an elderly loved one can be exhausting and stressful. Caregivers often lack outside help and shoulder all the responsibilities of the elderly in addition to the responsibilities of the caregiver’s own life. The stress of care-giving can be reduced significantly by proper planning. Caregivers should also consider taking a few precautionary measures …more

An Overview of A Trustee’s Duties

Tuesday, June 25th, 2013   3:14 pm |  Category:   Legal  |  Add Comment  
Author:     posts:  16    Author's   bio

A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a “trustee,” holds legal title to property for another person, called a “beneficiary.” If you have been appointed the trustee of a trust, this is a strong vote of confidence in your judgment and …more

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