In a recent guardianship case, the Second Judicial Department reversed the Supreme Court Judge’s decision to terminate, sua sponte, the guardianship of the incapacitated person (IP), as the judge should not have done so without holding a hearing.
Under Article 81 of the Mental Hygiene Law, a guardianship may only be terminated by application of the guardian, » Read More
To preserve one’s assets while still qualifying for long-term care benefits from the government, many individuals approaching retirement opt to gift a property, insurance, or another asset to a family member. While on the surface, it seems like a smart move to remain eligible for veterans’ benefits or Medicaid, but there is a smarter way to hold on to these assets. » Read More
Late last year, Congress passed the Securing Every Community for Retirement Enhancement (SECURE), one of the most significant pieces of legislation to impact retirement planning in recent years. Among its many far-reaching provisions, the SECURE Act can potentially cancel out an IRA beneficiary’s ability to stretch distributions over the course of his or her lifetime. » Read More
What is the SECURE Act?
Coronavirus cases continue to rise, causing work closures, cancelled events and constant worry among US citizens. Although it is only the middle of July, Summer will eventually come to an end and school will be starting back up. Teachers across the country are beginning to prepare or update their wills and estates in anticipation for returning to the classroom, » Read More
As the nation continues to try to stem the transmission of the novel coronavirus, a disturbing trend among nursing homes is coming to light. The stress of the pandemic is causing nursing homes to evict some of the most vulnerable people throughout the United States. A New York Times investigative report uncovered data from at least 18 states, suggesting that at least 6,400 individuals have been discharged from nursing homes to make room for COVID-19 patients who bring in more money. » Read More
New Yorkers who are concerned about their financial future should know about a significant change to Community Medicaid that is taking effect later this year. In April of 2020, Governor Cuomo and the New York State Legislature signed the approved 2020/2021 state budget for the state. Included in the new budget is a financial look-back period for Community Medicaid that will determine if any non-exempt assets were gifted to others in the two-and-a half year period before they apply for benefits. » Read More