As you probably know, Medicaid can help elderly New York residents pay for long-term health care needs. To qualify for Medicaid, you need to meet certain income and asset thresholds. This means that you cannot get Medicaid if your income is too high, or you have too...
Year: 2022
Factors to consider before making your business an LLC
Starting a new business in New York can be an exciting process, but one that requires careful consideration to ensure a business owner selects the right type of business entity. Among the most popular types of business entities is a limited liability company, or LLC...
Five tips for estate planning in a blended family
If you’re part of a blended family, then you need to take care as you navigate your estate plan. A lack of diligence and thoroughness here could leave your estate in the hands of individuals whom you never intended to inherit, which means that your loved ones could...
Understanding a nursing home care plan
Entering a nursing home can be a scary and confusing experience, whether you are entering one as a patient yourself, or helping a family member who is entering one. You may have no idea what to expect, or what the nursing home will be doing for you or your loved one....
When should you modify your estate plan?
Creating an appropriately thorough estate plan can take some time and effort. A lot of this is attributable to learning your estate planning options and figuring out what you want for the future of your assets and your loved ones. And yet, even though you might feel...
How does the Medicaid look back period affect eligibility?
When people in New York start to plan for their later years, they may know that there will be a time when they will need to move into a nursing home to receive the care that they need. Nursing home care can be expensive, and people may need to plan ahead to ensure...
What is the effect of a no-contest clause upon a trust or will?
When an individual executes a trust instrument or a will, their intent is to have their assets distributed according to their desires. They may fear that their directions will be challenged later in court, leading to infighting among beneficiaries. To prevent this,...
Are guardians important for parents?
In a recent post on this blog, we discussed the importance of guardianship for vulnerable adults. In this post, we will focus on why guardians are so important for young children, and why Williamsville, New York, parents need to make guardianship a part of their...
Providing for your child through a special needs trust
As a parent of a special needs adult child, you recognize that your child will likely need lifelong care. You also understand it is possible that your child will outlive you and you need to make plans for their care after you are gone and can no longer care for them...
Is it time to ‘go public’ and incorporate your business?
Business is booming and you may be thinking about what steps to take next as a business owner to grow your enterprise. Perhaps you are starting to attract investors, or you desire to “go public” and open your business to shareholders. If so, it may be time to...