You might not have thought too much about what happens to your stuff after you die, but estate planning and thinking about probate are important in caring for your loved ones. You do not want to leave a mess for them to deal with after you are gone. Fortunately,...
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Year: 2020
Why is an estate plan important?
You may have heard that a lot of Americans -- the majority of them -- do not have estate plans. It’s often not that they don’t think it’s important, but just that they think they can do it later. What this really shows, though, is that they don’t fully grasp the...
New York estate planning: Avoid these common mistakes
Estate planning offers valuable advantages to all who make the effort to create a solid plan. Estate plans can be as unique as the individuals they help. An important part of estate planning for those in Brooklyn, NY, is avoiding common errors that can make your plan...
Why advance directives are more important than ever
In March, April and May, when New York was the epicenter of the coronavirus outbreak in the United States, many residents started thinking about how well they had planned for a healthcare emergency. One reason many considered creating an advanced healthcare directive...
4 questions to ask yourself before you sign a commercial lease
You started your business at your kitchen table, moved it to the garage when it got bigger and now -- hurrah! -- you’re just about to sign your first commercial lease. Before you pick up that pen, however, you need to realize that commercial leases, unlike residential...
Can you ask your parents if they have written a will?
As their parents get on a bit in age, children often begin to wonder exactly how much estate planning they have done. Do they have a will? Do they have a power of attorney? Have they done no planning at all, meaning you would have to figure it out yourself if they...
The difference between a heath care proxy, directive and living will
Many of us have heard the terms health care directive, health care proxy and living will. But what do these terms mean and why are they important to estate planning? Essential terms and definitions To better understand what is involved in making a will, or other...
Should you plan for in-home aid in your estate plan?
As people get older, the likelihood is that they will require more attention and care. It’s just a fact of life that illnesses and diseases tend to develop later in life, which means that the elderly often need medical care and support. One of the things you can do...
Can’t agree with your siblings on what to do about Mom or Dad? Read this
Some people are hale and hearty until the day they die. But many seniors start to experience a gradual mental and physical decline that their children invariably find painful to watch. Sometimes the emotional issues tied to a parent’s declining health and level of...
How will New York’s new Medicaid look back period impact applicants?
Applicants for assistance under the Medicaid program must meet specific asset and income limits in order to qualify. Beginning in October, applicants for community Medicaid benefits will be subject to new regulations under New York law. What do you need to know about...