One of the major benefits of setting up a living trust is to avoid the New York probate process. Probate is what happens when a person dies owning property in his or her name. Upon death, a relative will take that person’s Will to court (or start an intestacy proceeding if the person died without […]
If you have a loved one who is starting to “slip”, or become unable to handle some basic tasks of living, you may be thinking about how to take over his or her affairs. The best way to do this is with a healthcare proxy, living will, and power of attorney that your loved one […]
It can be very tempting for many people to save money by drafting their own estate planning documents, including Wills, Trusts, Living Wills, and Powers of Attorney, using a computer program rather than spending more money to hire an attorney. It is better to spend a little more money and hire an estate planning professional. […]
Medicaid is a program that pays for medical expenses and nursing home costs. Medicaid is a joint federal and state government program, so the rules about Medicaid eligibility vary from state to state. The requirements are generally fairly strict, because the program is intended to only pay for nursing home expenses of individuals with low […]
Many people use the terms “living trust” and “living will” interchangeably. Although both contain the word “living”, they are very different legal documents that accomplish different goals. A person may prepare both a living trust and a living will as a part of an estate plan. A living trust is a document that a person […]
An executor is the person in charge of managing a deceased person’s estate. An executor is nominated in a Will. If a person dies without doing a Will, the person in charge of the estate is called the administrator. In order to be appointed as executor or administrator once an individual has passed away, a […]
Unfortunately, many people find themselves in the position of wanting to help their elderly loved ones, but legally being unable to do so. If a parent failed to do any planning for their incapacity, it may become necessary to seek a guardianship. Typically, when a person does estate planning, the attorney will prepare a power […]
Medicaid is a program that is jointly funded between the federal government and individual states. Medicaid pays for medical care for certain low-income individuals. One of the most important benefits of Medicaid for many seniors is the nursing home payment – Medicaid will pay for long-term care in a nursing home. However, in order to […]
Many clients are fearful about their loved ones going through probate when they pass away. They may have heard horror stories about how complicated, expensive, or time consuming probate is. Whether your estate has to go through probate depends on which assets you own, how they are titled, and whether you have completed transfer on […]