In light of the ongoing COVID-19 pandemic, it is now more important than ever for families to be ready for anything that might happen when their young adult children are away from home. When a child turns 18, their parents are stripped of the authority to make financial and medical decisions on their behalf. That …
THE MOST IMPORTANT THING TO BRING TO COLLEGE THIS YEAR Read More »
Many family caregivers and seniors are unaware that New York State has passed the 2020-2021 State Budget Bill triggering the Legislature to adopt a 2.5 year lookback on Medicaid applications for in-home care services (Community Medicaid). The anticipated date for this new rule is October 1, 2020. The purpose of the lookback period is to …
NEW YORK MEDICAID ELIGIBILITY CHANGES: BEWARE OF THE NEW LOOK-BACK PERIOD Read More »
Life has changed for many in the past few weeks since the outbreak of COVID-19. As more and more people contract the coronavirus disease, this pandemic has inevitably led families to worry about protecting those closest to them and many are taking the steps to do just that. Working from home and avoiding social gatherings …
ESTATE PLANNING AND CORONAVIRUS. WHAT YOU NEED TO KNOW Read More »
Whether it was expected or accidental, the death of a loved one is stressful enough without the added complications in settling the deceased person’s financial affairs. Upon death, any assets that are not beneficiary designated or have a joint owner, are considered probate assets. Probate assets require a court order to pass title. Once you …
If you are a parent of a young or adult child with disabilities, you do not have to disinherit your child to protect her Medicaid or other government benefits related to her disability. You can create what’s called a “Special Needs Trust” which would receive that child’s share of your estate at your death. The …
ESTATE PLANNING FOR PARENTS OF CHILDREN WITH SPECIAL NEEDS Read More »
Medicaid is the largest funding source for long-term care and pays for over half of the care in the USA. It is, however, a “means tested” program – the applicants must have limited assets and income in order to qualify. Long-term care services may include medical, housekeeping, social, home health aide, rehabilitation and skilled nursing …
Creating a Will is an essential step on the road to becoming parents. When you have your first child, it is critical to have a Will in place so that your child is properly provided for. A Will, sometimes called a Last Will & Testament, is much more than a way of distributing your property …
