Blog - Page 16 of 26 - Sverdlov Law PLLC

Medicare does not pay for home care!

Posted on May 16, 2017

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/

What is a Public Administrator?

Posted on April 25, 2017

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...

Is an Irrevocable Trust really that Irrevocable?

Posted on April 18, 2017

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...

Will Anyone Respect Your Wishes?

Posted on April 11, 2017

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...

Be very careful about titling assets – you could disinherit your children!

Posted on April 4, 2017

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,...

Are Heirs Responsible for Decedent’s Debts?

Posted on March 28, 2017

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...

What is the right age to get a Power of Attorney?

Posted on March 21, 2017

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...

Update your estate documents – or face unpleasant surprises!

Posted on March 14, 2017

In a recent case that I saw, a woman lived together with a man for approximately 10 years. She loved him very much and wrote a Will, leaving all of her assets to him. They never married. Eventually, the couple separated. After a couple of years, the woman began dating another man. Yet she...

Main Reasons Why Families Fight Over Estates

Posted on February 14, 2017

1. Location of Siblings. It is often the case that one sibling provides care and support for an aging parent, while other siblings are distant (either physically or psychologically). While the local sibling provides support, that same sibling may also control the parent’s finances. The same sibling may also bring the parent to an...

Top 3 Estate Battles of 2016

Posted on February 6, 2017

In 2016, several well-known families had well-publicized fights about estates. These disputes should teach everyone to take action and be aware of their estate plan while they have mental capacity!PrincePop artist Prince died in April 2016 without a Will. Since his death, at least 30 individuals have come forward claiming to be Prince’s children,...