Should you hire an aide privately or through an agency?
According to recent research by the AARP, about 90 percent of seniors would like to stay in their own home as they age, even if they require day-to-day assistance with activities of daily living. With a rapidly increasing senior population, demand for quality in-home care is beginning to skyrocket.In the past, in-home care...
Should you hire an aide privately or through an agency? Continue reading…
Most Americans Still Avoid Estate Planning
Based on the most recent survey, 52% of Americans do not have a Will. Usually, not having a Will also means not having a Power of Attorney or a Health Care Proxy. When I lecture about this issue, I can talk for at least an hour about the need for a Power of...
Most Americans Still Avoid Estate Planning Continue reading…
If you plan on growing old, the Medicaid debate affects you!
One in three people who turn 65 end up in a nursing home. No one ever wants to go there, yet most of the time the family has no choice about this issue (it becomes dangerous to keep the person at home, the daily care required is too much for a home care...
If you plan on growing old, the Medicaid debate affects you! Continue reading…
Medicare does not pay for home care!
Even though some seniors may be entitled to home care through their Medicare benefits, it may be impossible for them to receive this needed care. And that is why most people plan for Medicaid - not because they are trying to cheat the system, but because they have no other real choice. http://www.pbs.org/newshour/making-sense/many-seniors-qualify-home-based-care-medicare-arent-receiving/
Medicare does not pay for home care! Continue reading…
What is a Public Administrator?
The Public Administrator is one of a chosen group of attorneys in one office per county who the Court often calls upon to administer to non-standard cases.The Public Administrator generally has the job of handling estates of people who die without a Will and who have no close relatives who are able to administer...
What is a Public Administrator? Continue reading…
Is an Irrevocable Trust really that Irrevocable?
The word “Irrevocable” usually implies no ability to change. Most people believe that the Trustee is required to adhere to the wishes of the Trust’s creator, even though the times and circumstances have changed. Nonetheless, that is no longer true in the case of New York State.There are two circumstances where an Irrevocable Trust...
Is an Irrevocable Trust really that Irrevocable? Continue reading…
Will Anyone Respect Your Wishes?
An incredible book that I read in the past year was “Being Mortal: Medicine and What Matters in the End” by Dr. Atul Gawande. The book is a discussion of the state of American medicine as it relates to end-of-life care. Mr. Gawande argues that doctors often cause more suffering to patients by...
Will Anyone Respect Your Wishes? Continue reading…
Be very careful about titling assets – you could disinherit your children!
I received a call this month from a man who wanted to receive his share of his father’s building. The property had a value of approximately $4MM. There were 5 children in total, 2 from father’s first marriage (one of whom was this client) and 3 from father’ second marriage. The caller could not understand why,...
Be very careful about titling assets – you could disinherit your children! Continue reading…
Are Heirs Responsible for Decedent’s Debts?
According to the most recent data from Credit.com, 73% of consumers had outstanding debt when they were reported as dead, with the average total balance of $62K. Debts included home loans, credit cards, auto loans, personal loans and student loans. An estate is responsible to pay the deceased person’s debts. If there is sufficient...
Are Heirs Responsible for Decedent’s Debts? Continue reading…
What is the right age to get a Power of Attorney?
My answer to this question is always the same: 18! Before you turn 18, your parents are legally responsible for you and can make legal decisions on your behalf. After you turn 18, NO ONE can do that. It comes as a huge shock to most of my clients, but in the event...
What is the right age to get a Power of Attorney? Continue reading…