Katya quoted in “How a Medicaid Spend Down Works”
Katya Sverdlov, Esq. has been quoted in the U.S. News article How a Medicaid Spend Down Works. Understand important Medicaid spend down rules to decide if its the right financial strategy for you.
Read the full article here
How Can I Become an Administrator or an Executor of an Estate?
Probate or Administration: In New York, if the decedent had a Will and had assets that did not pass by operation of law (such as joint property with rights of survivorship or accounts with beneficiary designations), then the Will must be "probated" and an Executor must be appointed. If the decedent did not have...
How Can I Become an Administrator or an Executor of an Estate? Continue reading…
Removing the Executor of the Estate
Can one remove the executor or the administrator of the estate? The process is not easy, but it has been done multiple times. Below are several common grounds for removal:
• Self-dealing. This means that the Executor of the Estate acts in the best interests...
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Can You Be Rich and Still Qualify for Medicaid?
Why do people want to qualify for Medicaid in the first place? Because, even though this knowledge may come as a shocking surprise, neither Medicare nor any supplemental insurance coverage policies pay for long term care. Long term care includes home care services and nursing home services. When paid for privately, the cost...
Can You Be Rich and Still Qualify for Medicaid? Continue reading…
6 Ways to Coordinate Your Estate Planning with Your Financial Advisor
Essential components of every estate plan, regardless of client's net worth, include a Will, a Power of Attorney, and a Health Care Proxy. Some circumstances require the use of a Trust (for the purposes of special needs planning, asset protection, Medicaid/elder care planning, estate tax mitigation, and probate avoidance). Those with potentially taxable...
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Joint Bank Accounts in New York: A Confusion of Law and Intent
Many individuals who open a joint bank account in New York are completely unaware of the legal and tax implications associated with these types of accounts. This is quite ironic, given that joint accounts are often opened to simplify inheritance matters, not to complicate them.
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Ways to Pay for Long-Term Care
A good friend of mine and a wonderful specialist is hosting a Free Webinar:
Ways to Pay for Long-Term Care
Cynthia Perthuis, Elder Care Strategist and head of the New York office of Senior Care Authority, will offer valuable insights and tips in this free session on...
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Ways to Pay for Long-Term Care
Cynthia Perthuis, Elder Care Strategist and head of the New York office of Senior Care Authority, will offer valuable insights and tips in this free session on...
Adoption Ends Inheritance Rights of Biological Family
Once a person is adopted (either as a child or as an adult) all inheritance rights of the biological family of the decedent are terminated.
In the past, prior to the legalization of same-sex marriage, many partners in same-sex relationships adopted each other, to create...
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Presumption of Revocation of Lost Will is Not Easy to Overcome
You must be very careful to store your Will properly, otherwise, if it cannot be found, the court is likely to consider it revoked and your assets will be distributed in accordance with intestacy rules.
In recent case In Re Scollan (2018), in which a...
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Fiduciary Cannot Engage in Self-Dealing
One must be very careful when acting as an Executor of an estate or a Trustee of a Trust, exercising utmost caution and avoiding all instances of impropriety. Any appearance of self-dealing may trigger court inquiry and result in very unpleasant consequences.
In a recent...
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