It’s difficult to accept, but accidents occur every day. In addition to preparing for accidents, it is also a good idea to anticipate events like entering a nursing home. Because an event of this nature is almost a certainty, it is a good idea to take some important estate planning…
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New York Estate Planning & Elder Law Blog
Aging and Sleep
As we get older, changes to our sleep patterns occur. In fact, a normal part of the aging process is different sleep. People often report that they have trouble falling asleep and staying asleep as they age. Every night, people achieve sleep, by experiencing periods of light and deep sleep.…
Estate Planning Errors You Need to Avoid
There are several reasons why people hesitate to or refuse to plan for death or incapacity. Failure to create an estate plan, however, can result in a person facing several complications which includes increased fines and placing additional stress on your loved one. As a result, this article reviews…
Using Irrevocable Life Insurance Trusts to Avoid Estate Taxes
The federal estate tax exclusion was recently raised to $11.4, but there are cases where large estates or businesses are transferred to beneficiaries and the recipients are subject to estate taxes. In some situations, the only way for your loved ones to pay for the taxes that accompany these assets…
Continuing Care at Home
Very few people look forward to living in a nursing home the last years of their lives. There is a growing segment of the population that wishes to remain in their homes as long as possible. To do so however, assistance is needed from medical professionals and home health aides.…
4 Tips for Managing Digital Assets
Before recently, the terms used by each individual website influence who has ownership and access to digital assets following a loved one’s death. These regulations greatly increased the number of regulations that loved ones must follow after your death. In many cases, these complex laws ended up having the result…
Can I Get Kicked Out of My Assisted Living Home?
A recent story out of Virginia recently received a great deal of national attention. An 83-year-old grandmother of five and great grandmother of five received a “Notice of Lease Violation” from the management office of her assisted living facility. What was the infraction? It appears that Ms. Elsie Cruey…
The Challenges and Advantages of Creating a Trust
While trusts grow in their popularity and usage, some people still encounter difficulties in creating a trust. One problem that some clients face is banks and financial institutions who create challenges in funding a trust. While this problem is not all that common, it is still helpful to understand…
Exemptions to the Bankruptcy Marital Exception
In the United States, married individuals almost always receive assets from their spouses without paying estate tax. One exception is the often-overlooked law involving marriage between a citizen of the United States and a foreign national. If you find yourself in this situation, it can create a unique challenge during…
How to Better Protect Your Assets from Creditors: Lessons from In Estate of Holdaway
A California Superior Court in the case of In Estate of Holdaway recently ruled in favor of a creditor who was attempting to collecting on a deceased person’s estate. Following the individual’s death in 2013, a creditor in 2014 filed a petition for probate and seeking compensation for $90,875 on…