New York Estate Planning & Elder Law Blog

A Note on Afternoon Doctor Visits

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

When bodies age they need regular check-ups to ensure systems are functioning properly. Particularly if you suffer from a chronic condition, such as high blood pressure or kidney failure, regular doctor appointments followed up by lab work are extremely important. Through preventative care, your quality of life is better. Managing the day-to-day aches and pains is simpler and when flare-ups occur you are able to bounce back to form faster.

Every month, there are a group of doctors that I must see to ensure that I can manage my own health. My general doctor, he’s my quarterback. He calls the plays and sends me to the appropriate specialist to treat my chronic conditions. While I have a great relationship with my quarterback and his staff, whenever he sends me to another doctor my immediate reaction is anxiety. It makes me anxious to call a specialist because, like your third-grade teacher, they are full of rules. How to call them, when to call them, how to leave a message with the doctor, etc. etc.

Calling a new doctor to schedule an appointment is the most unpleasant thing I do on a monthly basis. Some doctors’ offices want patients to use an online portal for example. Other doctors send a call to a voicemail box with the promise to respond within 48 hours. Recently, a doctor asked that I compete 20 pages of form, can and email at lease a dozen lab reports, and then wait one week for a call back to schedule an appointment. He did call me directly three times to tell me he can’t help me. As time goes on it seems it’s harder and harder to make an appointment.

Defining Undue Influence: Lessons Learned from Portland Museum of Art v. Germain

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

The Portland Museum of Art in Maine recently initiated legal action against the caretaker of an art collector. The Museum claimed that the caretaker bequeathed as much as $2 million to museum, but was convinced to not do so before her death.

As a result, the art collector changed her will months before death in 2015 and removed the Portland Museum of Art as a primary beneficiary. In legal briefs filed in preparation of the case, the museum alleged that caretaker displayed characteristic signs of elder abuse and kept the art collector from interacting with her family.

Unfortunately, there are a number of cases where one person manipulates another individual who is in a vulnerable position to an illness or an advanced age. This manipulation is often done to defraud the individual and take their money.

6 Things You Should Know about Pet Trusts

Published on: July 6, 2019 | by Ettinger Law Firm

We love our pets, but many of us are still uncomfortable with confronting end of life issues. When accidents occur and people lack essential estate planning tools, it is very common for pets to being end up being sent to shelters or rescue centers.

To avoid this unpleasant idea and to make sure that a pet is cared for following a person’s death or incapacity, some people establish a “pet trust”. Being a relatively uncommon type of estate planning tool, however, people often have questions about just what these trusts include.

As a result, this article discusses six important things that you should know about pet trusts.

Handling Digital Assets in Estate Administration

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

This is the last post on gifting digital assets. So far, we have examined digital assets generally and digital asset planning in the estate planning process and the business succession planning process. Today’s post will review how to handle digital assets in the estate administration process.

Traditional estate administration process v. Estate administration process with digital assets

Let’s say I’m an executor in an estate and I’ve identified digital assets that decedent made in his or her lifetime. How is the estate administration process with digital assets different from the traditional estate administration process without digital assets?

Advice on Navigating 5 Common Estate Planning Emotional Blocks

Published on: July 3, 2019 | by Ettinger Law Firm

Many people understand that estate planning is important, but nobody wants to tackle issues that address end of life because often that means accepting that you too will die.

If you get nervous or uncomfortable when it comes to estate planning issues, you aren’t the only one. Failure to address estate planning issues, however, can lead to a number of complications if you are suddenly pass away or become incapacitated.

As a result, it is critical to make sure you perform adequate estate planning. This article offers some advice about tackling the various emotional challenges that are frequently involved with estate planning.

Estate Planning Advice for Single Parents

Published on: July 1, 2019 | by Ettinger Law Firm

Regardless of age, for parents who are interested in estate planning, the most pressing issue is almost always caring for children. The expectations that a parent has for their child often end up shaping the estate plans that get written.

For single parents, these conversations are often more critical. Instead of leaving behind a spouse who will be able to make sure that the child or children is cared for, the death of a single parent has the potential to result in many more obstacles being suddenly created for a child.

Because the Census Bureau reports that there are 13.6 million single parents in the United States, this article reviews some of the estate planning documents that can be particularly helpful for adults in this situation.

Estate Planning after Marriage or Divorce

Published on: June 28, 2019 | by Ettinger Law Firm

When major life events like marriage and divorce occur, it is a wise idea to review your estate plan. That’s because these life events have the potential to significantly change a person’s estate plan.

The purpose of this article is to review some key factors that you should consider about estate planning when you recently got married or divorced.

Estate Planning Issues Following Marriage

Importance of digital asset planning in estate planning

Published on: June 26, 2019 | by Ettinger Law Firm

In this post we will discuss why digital assets should be incorporated in the estate planning process just as you incorporate all of your physical assets. We will also explore what are some of the initial steps to take when formulating an estate plan with digital assets.

Step One: Understand what a digital asset is

A digital asset is an electronic record in which an individual has a right or an interest. The definition is broad and includes financial accounts, music files, electronic communications, cryptocurrencies, videos, and photographs, among many others. In order to dispose of these items, like the physical items in your home or that you have accumulated during your life you will need to know which of your assets are digital or electronic in nature.

Planning Ahead: Estate Planning and Beneficiary Designations

Published on: June 26, 2019 | by Ettinger Law Firm

After creating an estate plan, it is easy to fall into the trap of thinking that you have now done everything necessary to plan for the future. In many cases, however, people fail to make sure that all beneficiary designations as well as assets are titled in a way to reflect your plans.

It is critical to make sure that these assets are properly titled because when people die, they often have two types of estates: those that must be probated as well as “non-probate” assets.

Not Everything Passes through a Will

Help! My Father Gifted Me Bitcoin But No One Can Find the Private Key

Published on: June 23, 2019 | by Ettinger Law Firm

Estates lawyers are increasingly asked to help surviving family’s members locate cryptocurrencies because their loved one collected them during their lifetime, didn’t include it in their will or updated will, and now no one can find it. Planning for cryptocurrency is more complex than digital asset planning. For starters, cryptocurrency has no physical equivalent. Cryptocurrency were created online, are exchanged online, and are stored online.

Blockchain Technology

The first step to understanding cryptocurrency is to examine blockchain technology. Bitcoin and many other digital currencies or cryptocurrencies utilize blockchain technology to record transactions between parties efficiently, in a transparent and verifiable manner. Blockchain technology is a digital database containing information (no records, financial statements, or other types of data) that can be simultaneously used and shared within a large decentralized and publicly accessible network without any central authority. The entire enterprise is decentralized meaning no government or financial bank or company can revoke an account on a blockchain network, shut down the network, or prevent someone from using it.