New York Estate Planning & Elder Law BlogUncertainty reigned over the last few months regarding the budget situation for the New York Medicaid system. Fortunately, an agreement has been reached which should provide more long-term stability and the ease the minds of both policymakers and NY residents alike. The underlying problem was claims by the federal government that over a period of […]
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Back to the Basics: First vs. Third Party Special Needs Trusts in NY
Families throughout New York who have children with disabilities are frequently questioning how to best provide for their children’s needs–both now and in the future. It can be a complex issue, because relatives must balance their ability to provide help via their own private resources with available support through Medicaid and Supplemental Security Income (SSI). […]
New Report Explores State of Medicaid Following Affordable Care Act
As the first wave of healthcare insurance enrollment ends as part of the Affordable Care Act, observers are quick to comment on the changes enacted by the law. In addition to millions who took advantage of insurance sold in private marketplace exchanges, there has also been a significant increase in Medicaid participants–both in New York […]
Developments with the New York Estate Tax
We often discuss the importance for local families to account for the New York estate tax. Far more media coverage is given to the federal tax, and some local residents are under the mistaken assumption that the state law mirrors the federal. It currently does not. Even families who do not have asset to trigger […]
Outrage After Seniors Kicked Out of New York Nursing Home
Elder care advocates are understandably up in arms following reports about questionable evictions from a Brooklyn facility catering to seniors. The sad situation is a reminder of the continuing struggles faced by so many local families in their quest for quality, reliable long-term care and support. It is also a troublesome sign that most communities […]
Billions on the Line with New York Medicaid “Adjustments” from Federal Government
New York State has the largest Medicaid system in the country. As most know, Medicaid is a joint state-federal program that provides healthcare to low-income residents. Unlike Medicare (which is a program exclusively for seniors based on their age), Medicaid is for all those who do not have enough assets to pay for the insurance […]
New York Estate Planning – No Child Left Behind?
Some New Yorkers eschew an estate plan because they assume their wishes are very simple. “I just want the kids to split it” is a common refrain. For one thing, default rules in the state do not automatically mean that children will split a parents’ assets. The only way to do that is by ensuring […]
Using a “Life Estate” in a New York Estate Plan
Property rights and rules are some of the most complex (and arcane) areas of the law. Of particular importance for estate planning purposes, property rules allow different individuals to each have different “interests” in the same piece of property. It is not necessarily as simple as one person owning each piece property. This presents unique […]
New York Nursing Home Costs & Medicaid “Lookback” Period
Any family who has gone through the process of helping a loved one into a New York nursing home understands the initial “sticker shock.” New York remains one of the most expensive states in the country for long-term care. As outlined in the latest Genworth Cost of Care study (from 2013), the median cost of […]
County Run Nursing Home in New York Studying Future of Long-Term Care
The future of providing necessary care and support for New York seniors is a hotly debated topic. The analysis is taking place everywhere, including at the local level. As frequently discussed, one of the primary battlegrounds is that of county-run nursing homes. Long a bastion of care for residents, these facilities are being shuttered by […]