New York Estate Planning & Elder Law Blog

Advantages of Non-traditional Estate Planning Tips

Published on: December 9, 2019 | by Ettinger Law Firm

An increase in new types of family structures, new estate planning laws, and new types of assets has led to the use of many new non-traditional estate planning tips. Hopefully, by reviewing some of the non-traditional methods in this article, you will begin considering whether your estate will benefit from any of these strategies.

# 1 – Appoint a Trust Protector

One of the most difficult (although obvious) parts of estate planning is that after you die, your estate planning language will be permanent. A trust protector can help you make sure that your wishes for a trust are carried out. Some of the powers that you can assign a trust protector include making revisions to the trust and resolving disagreements among trustees.

2018 Special Needs Trust POMS Revisions

Published on: December 8, 2019 | by Ettinger Law Firm

Social Security Income (SSI) is a needs-based program administered by the Social Security Administration (SSA) to help people with disabilities pay for goods and services. In 2018, SSA made major changes to how Special Needs Trusts (SNT) are set-up and administered. What follows is a brief explanation of the program and the changes implemented beginning in April 2018.

Who is affected?

Approximately 7 million people receive SSI, a needs-based cash benefit to help pay for food and shelter. In 2019 the cash benefit amount for a single person was $771 per month; for couples the monthly cash benefit was $1,157. The cash benefit amount will increase in 2020, with couples scheduled to receive $1,175 per month and individuals $783 per month. For a couple to receive SSI their must be an eligible individual plus an eligible spouse.

When Should You Get A POLST Order?

Published on: December 5, 2019 | by Ettinger Law Firm

Is an advance directive enough to ensure that your wishes are followed when you cannot express them because of disease or illness that affects your ability to make decisions for yourself? Physician Orders for Life-Sustaining Treatment (POLST Orders) for short, are often confused with advance directives. These medical care planning tools are very different from each other.

What is an advance directive?

An advance directive consists of a living will and a health care power of attorney. Every adult, regardless of age, should have one and update them from time to time, especially following a diagnosis of a serious medical condition.

How to Stop Hesitating and Finally Write Your Estate Plans

Published on: December 4, 2019 | by Ettinger Law Firm

Many people understand that they should create an estate plan, but there are many reasons why they hesitate to do so. One of the most common reasons is that it can be difficult to accept that a person will not be around one day.

If you die without an estate plan in New York, however, you risk dying without an estate plan that could make sure that your assets are protected and that your loved ones receive what they deserve.

This article follows some strategies that you should follow to make sure that you end up writing your estate plan sooner rather than later.

How Beneficiary Designations Can Complicate Your Estate Plan

Published on: December 2, 2019 | by Ettinger Law Firm

Many people who have engaged in estate planning understand that beneficiary designations play an invaluable. Despite this, the value of beneficiary designations is overlooked by some people. After signing estate planning documents, it is critical to make sure that your beneficiary designations are consistent with the rest of your estate plan. Otherwise, the possibility arises that the intent expressed in your will or other estate planning tools might override beneficiary designations.

The purpose of this article is to review some of the other critical issues that everyone should consider when it comes to beneficiary designations and the potential complications that can arise.

# 1 – Be Wary of Naming Spouses as Beneficiaries

Changes to Nursing Home Compare Facility Information

Published on: November 27, 2019 | by Ettinger Law Firm

Earlier this month the Center for Medicare Advocacy and the Long Term Care Community Coalition made a joint announcement regarding changes to the Nursing Home Compare website. Nursing Home Compare is a service provided by Medicare.gov to help prospective nursing home residents or nursing home residents and their families obtain information about every Medicare and Medicaid certified nursing home in the country.

A nursing home is a place for people who can’t be cared for at home and need 24-hour nursing care. Over 15,000 nursing home facilities around the country will be affected by this change. Nursing home residents and their families will be able to easily identify if the nursing home they are considering has a history of resident abuse, neglect, and exploitation of its residents.

What’s happening?

Estate Planning Documents Every Young Child Needs

Published on: November 27, 2019 | by Ettinger Law Firm

Parents can make medical decisions for their children. After a child reaches the age of 18, however, and is viewed in the eyes of the law as an adult and a parent’s ability to make these decisions ends.

Fortunately, through the use of a few simple estate planning documents, young adults can avoid this situation as well as many others.

# 1 – Financial Power of Attorney

Understanding the Role of Trust Protectors

Published on: November 25, 2019 | by Ettinger Law Firm

Trust protectors are becoming an increasingly common part of estate plans in New York as well as the rest of the country. A trust protector refers to someone who is appointed to look over a trust and make sure that the trust is not adversely affected by changes in the law.

Appointing a trust protector is not a decision that benefits everyone. As a result, this article reviews some of the biggest advantages that people realize throughout appointing a trust protector.

# 1 – Make Changes to a Trust without Formal Amendments

An Army of Volunteer Helpers

Published on: November 24, 2019 | by Ettinger Law Firm

Many of you may recall when President John F. Kennedy founded the Peace Corps in 1961 and may have even signed up as a volunteer to help provide social and economic development assistance abroad. Borrowing on this model, an initiative is underway to establish an internal national volunteer care corps to help older adults age in place by relying on the assistance of volunteers to help people manage their day-to-day living needs.

Introducing the National Volunteer Care Corps

The National Volunteer Care Corps is a government initiative run by the Administration for Community Living, a division of the U.S. Department of Health and Human Services. The National Volunteer Care Corps seeks to build an army of domestic volunteers to help older people live better and longer in their homes, especially if they can still take care of their primary needs. From teens, to college students, or civic minded adults, volunteers would perform the following tasks:

How is Inheritance Tax Different from Estate Tax?

Published on: November 22, 2019 | by Ettinger Law Firm

Many conversations mention estate and inheritance taxes together, but there are some substantial differences between these two things. Both these taxes, however, have one thing in common: not everybody pays them.

As a result, it is a wise idea to begin by deciding whether you will be required to pay either of the taxes.

Is Inheritance Taxable?