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August 2017 Archives

Counsel of New York estate planning lawyer often invaluable

Estate planning is not just for the rich. In fact, despite the name, estate planning doesn't even require someone to own an estate. Especially as family members age, estate planning can become increasingly important, and the guidance of a New York estate planning lawyer often proves invaluable.

Medicaid planning crucial as cost of care continues to rise

When they hear the term "Medicaid," many residents of New York may think of a government program whose main purpose is to help the poor. In actuality, almost 30 percent of the program's budget goes to pay for nursing home care and other types of long-term care for the elderly. Medicaid planning is an important part of estate planning, as this long-term care for the elderly is incredibly expensive.

Few have advance health care directives, despite known importance

From Medicaid to living wills, one would be hard-pressed to find anyone who claimed planning for end-of-life care in New York isn't important. However, admitting an issue is imperative and actually taking steps to address it are two separate things. Despite the fact that elder law attorneys and others in the United States have been promoting advance health care directives for almost half a century, a recent study reveals that only approximately 30 percent of adults have one.

Forming a special trust for a special needs family member

Estate planning is a necessary step for every individual looking to have a certain amount of control over what happens to his or her estate. However, a complete estate plan also offers many advantages outside of simply outlining who gets what, and one of these includes the ability to plan for the care of a loved one who cannot care for him or herself.

Medicaid planning for nursing home and home health care expenses

Often, as individuals age, the responsibility for their care falls to family members. In fact, there are approximately 44 million unpaid family caregivers in the U.S., and residents of New York are no exception to these statistics. The downside of this is that, without Medicaid planning for nursing home and home health care expenses, this often takes its toll on family members – usually adult children -- financially, career-wise or both.

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