Katya Sverdlov Blog

Monday, December 28, 2020

Why does anyone need a Pooled Income Trust?

Pooled Income Trusts can be used for many different situations, including individuals with mental health illnesses, special needs, and seniors who need Medicaid services.

Read this article from NAMI with a thorough and straightforward explanation of a Pooled Income Trust.

Set up an appointment with Sverdlov Law PLLC to discuss whether a Pooled Income Trust is right for your family.

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Seven Immediate Actions to Take When Your Loved One Passes Away: How to close accounts, notify key authorities, access death benefits, and begin the administration process

New video has been posted about a Power of Attorney

Happy New Year!

Why does anyone need a Pooled Income Trust?

For clients of Sverdlov Law - an offer from a Senior Trainer

Social Security changes coming in 2020

What is a healthcare proxy?

What happens if there are not enough assets in the Estate to pay all claims

Disinheriting a Child

Account Closures and Cancellations

Blog Links

Archived Posts

2021

January

Seven Immediate Actions to Take When Your Loved One Passes Away: How to close accounts, notify key authorities, access death benefits, and begin the administration process
New video has been posted about a Power of Attorney

2020

December

Happy New Year!
Why does anyone need a Pooled Income Trust?
For clients of Sverdlov Law - an offer from a Senior Trainer

2019

November

Social Security changes coming in 2020

October

What is a healthcare proxy?
What happens if there are not enough assets in the Estate to pay all claims
Disinheriting a Child
Account Closures and Cancellations
Basics of Planning a Funeral

September

Planning for Step-Children
A Good Plan Avoids Big Problems
My recent interview on Serene Home: mistakes, challenges and costs of estate planning.

August

KonMari consultant explains the organizing / cleaning method that took the world by storm!

July

How to Budget for a Child with Special Needs
Top 5 Reasons for Asset Protection

June

Recent Change to New York State Estate Tax: Gift Tax
Common Forms of Ownership of Property and Financial Accounts
New Addition to my Firm
What is the Medical Aid in Dying Act?
Do You Need a Health Care Proxy?
How Do You Open a Safe Deposit Box After Death?

May

It's been 3 years since my father's death and I have not received a penny from my sister who was the appointed Executor! Should I compel an accounting?
Katya quoted in "How a Medicaid Spend Down Works"
How Can I Become an Administrator or an Executor of an Estate?
Removing the Executor of the Estate
Can You Be Rich and Still Qualify for Medicaid?

April

6 Ways to Coordinate Your Estate Planning with Your Financial Advisor
Joint Bank Accounts in New York: A Confusion of Law and Intent
Ways to Pay for Long-Term Care
Adoption Ends Inheritance Rights of Biological Family
Presumption of Revocation of Lost Will is Not Easy to Overcome

March

Fiduciary Cannot Engage in Self-Dealing
7 Tips for Keeping Trusts Flexible in a Rapidly Changing World
A To-do List To Protect The Identity Of A Loved One Who Passed Away
Celebrity Estate Planning Mistakes That Everyone Can Learn From

January

Estate Planning for 21st Century Families: A Primer
Top 5 Estate Planning Hacks for 2019
CryptoWills: What They Are and How They Work

2018

December

What to Know About Tax Implications of Buying, Owning, and Selling Cryptocurrency
Use free services to stay independent
Medical Marijuana in New York
Regular Wills vs. Crypto Wills

November

5 Things to Do Immediately to Protect Your Digital Assets, Including Crypto-Currency

October

Is this the future of dementia care?
Psychiatric Advance Directives (PAD) – are they different from a regular health care proxy?

September

Snowbirds? Consider differences in State Law

August

Notable 2018 Supreme Court Decisions: Collection of State Sales Tax on Internet Retailers
Notable 2018 Supreme Court Decisions: Compelled Speech

July

Notable 2018 Supreme Court Decisions: Freedom of Religion vs. Anti-Gay Discrimination
Notable 2018 Supreme Court Decisions: Expectations of Privacy in a Digital Age
Notable 2018 Supreme Court Decisions: Travel Ban
Notable 2018 Supreme Court Decisions: Partisan Gerrymandering

April

Seniors are one of the fastest growing demographics that is interested in medical marijuana
'Aggressive' Advance Directive Permits Halting Food And Water In Severe Dementia
Guest Blogger: Ashley Taylor from www.disabledparents.org - Preparing Your Home and Your Life for Children as a Disabled Parent

March

Why do people choose assisted suicide?
Must an Executor or a Trustee provide an Accounting?
Was your aunt unduly influenced by her neighbor when she transferred her house to him?

February

How to Talk to an Aging Unsafe Driver
Spell the name of the Witness to Your Will
Revising Your Will Based on Changes in Law and Changes in Facts

January

Planning for a Childless Couple
Simple Steps You Can Take Now to Protect Your Assets
What Assets are Protected from Creditors?

2017

December

Second Marriages: Causes of Family Strife!

November

How to make a statement after you are dead
Planning for a Pet
Can Medicaid place a lien against the apartment?
Estate Planning Tips for same-sex couples
Some Legal Trivia

October

Some Legal Trivia...
Imagine your family at peace: How to Have Crucial Conversations with Your Loved Ones about End-of-Life issues
Are you at risk of getting sued, if you agree to act as a Fiduciary (Executors, Trustees and Agents under Power of Attorney)?
Will the 1031 “Like-Kind” Exchange be now eliminated?
Get a FREE online evaluation - what kind of documents you need

September

Trump just proposed to eliminate the Estate Tax completely. Will it affect you?
You have a Trust? When DO beneficiaries find out about money left to them ?
Should you hire an aide privately or through an agency?
Most Americans Still Avoid Estate Planning

July

If you plan on growing old, the Medicaid debate affects you!

May

Medicare does not pay for home care!

April

What is a Public Administrator?
Is an Irrevocable Trust really that Irrevocable?
Will Anyone Respect Your Wishes?
Be very careful about titling assets – you could disinherit your children!

March

Are Heirs Responsible for Decedent’s Debts?
What is the right age to get a Power of Attorney?
Update your estate documents – or face unpleasant surprises!

February

Main Reasons Why Families Fight Over Estates
Top 3 Estate Battles of 2016
Do your plans for 2017 include estate planning? Below are 5 tips to consider!

January

Are you at risk to have your Will invalidated?
Financial Crimes Against the Elderly
Can you adopt an adult in New York?
Don't live an isolated life (and help seniors in your life to connect)

2016

November

Buy / Sell Agreements

October

Protecting Your Estate Starts with a Prenuptial (or a Postnuptial) Agreement

August

Why would you want a Nevada Trust?
Joint Revocable Trusts vs. Parallel Documents (cost saving vs. peace of mind)
Rich and Famous Planning: Sumner Redstone – an estate plan that is embarrassment for the man, the family and the company?
Who will care for my dog?

July

Executor of your Will: who should be named and what are his responsibilities?
Rich and Famous Planning: Lessons learned from Prince’s mistake
ABLE accounts

June

You may want to think twice before leaving an outright distribution and gift
Rich and Famous Planning: B.B. King’s Estate – 15 children, a few million dollar and legal battles for many years to come
Retitling Assets and Designating Proper Beneficiaries

April

Estate and Income Tax Planning for non-US citizens. Part II – income and estate taxation of non-U.S. residents
Estate and Income Tax Planning for non-US citizens. Part I – determining U.S. residency

March

How to monetize an investment real estate property while minimizing taxes
What are the current methods of maximizing one’s social security payments?
You Can Now Donate Your Lapsing Insurance Policy

February

The Biggest Focus of Estate Planning is Now Basis (or Why You Should Not Make a Simple Gift of Assets to Your Children).
A Third of Americans Spend Their Entire Inheritance Within Two Years!
Leaving Real Estate Property to More Than One Heir May Cause Future Problems

January

Can You Avoid a 5 Year Penalty for Uncompensated Transfers?
Can Court Reform a Will When the Attorney Made a Drafting Mistake?
What are Gifts and how much can you gift and receive without paying taxes?

2015

December

Power of Attorney Printed From the Internet Was Found Invalid
Are relatives required to pay for nursing home care?

November

What is Long Term Care Insurance and New York State Partnership for Long Term Care
Can relatives supplement Medicaid covered nursing home care by paying for private nurses and private rooms?
There is a lot of government help available for low income seniors.
Accident Liens – can Medicaid recover from personal injury or malpractice award?
What is a Continuing Care Retirement Community?

October

What are the Current Gift and Estate Tax Laws?
When is Medicaid entitled to recovery of benefits paid? Part 1
Estate Tax Implications for Fractional Art Ownership
Social Security Survival Benefits

September

Can you have a Digital Will in New York?
California Lawmakers resurrect the Right-To-Die Bill
Estate Tax Planning Considerations for Foreign Nationals
Google Updates Options Regarding Deceased User’s Account

August

Heirs may not get to keep the money that factory owner earned through illegal activities.
How much do Corporate Trustees charge?

July

What is a Guardianship
No direct relatives and no will? Result: Years of Surrogate Court Process!

June

International Estate Planning
Improving the Life of a Disabled Loved One: First Party vs. Third Party Supplemental Needs Trust
Can You Avoid High Capital Gains Taxes?
Is Divorce the Best Option for People Over 65?

May

Should you use the Do It Yourself website for your estate plan?
What happens when a Will is lost? A case illustrates a need for properly storing your documents!
Is asset protection a necessary part of estate planning?
When does a Trust need to pay New York State income taxes?

April

Taking family dynamics into consideration, or thinking of expected family issues when planning!
Can Wills be challenged? Absolutely! A disowned daughter and an almost-disowned son prove that it is possible to do so even when the grounds for the challenge are legally dubious!
Can a Will be Contested? Part 1 (Undue Influence)
Why the Money in a Joint Account May Not Be Distributed to the Survivor (or how uneducated plans go wrong)
Estate considerations for blended families
The importance of Using the Proper Language When Setting up a Special Needs Trust
New York's “Slayer Rule” gets extended!

March

Planning for Children with Special Needs
The battle for the estate of an elderly heiress and the wrong lessons for estate planning
Asset Protection Planning for the Home
Consumers are buying less long term care coverage, most likely based on high premiums and uncertainty. However, different options with various benefits are available.
What is Probate?
Does a lawyer use ‘cookie cutter’ documents when dealing with elder clients? What issues must be considered when formulating a plan of actions?
Self-settled trusts may not provide asset protection.
Planning for Minor Children
Facebook now permits a "legacy contact".
Role of Insurance in Estate Planning
What happens with government benefits if one gets an unexpected windfall?

February

Poder notarial - un documento importante que cada adulto debe firmar
3 reasons why you might NOT want to plan for Medicaid
Common retirement assumptions people make that could result in an unexpected shortfall.
Difference between Social Security, Social Security Disability and Supplemental Security Income
What gifts can you make without informing the IRS? Why would you want to give large gifts during your lifetime?
Social Security “Spousal Benefits” – the money you never knew you had!
Trusts will be the only solution if the “Step Up” in basis is eliminated
Differences between Medicare and Medicaid

January

Top Ten Reasons Why You Might Want a Trust
Asset Protection: Self-Settled Trusts vs. New York Based Trusts
Planning for digital assets is just as important as planning for other assets.
What is the Step Up Basis that Obama Wants to Eliminate?
Supreme Court to Decide Whether States Can Prohibit Same-Sex Marriage
What is a Health Care Proxy?
Celebrity Estates – the smart and the not-so-smart ways to leave the money.
Power of Attorney – an important document that every adult should have.
5 Reasons for Asset Protection
You can now have a savings account for a disabled child! ABLE Accounts are a new savings vehicle that everyone with a disabled relative should know about.

2014

December

Why Single People Need Estate Planning

Sverdlov Law's practice focuses on estate planning, probate and estate administration, Medicaid planning, elder law, and business succession matters.