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Elder Law & Estate Planning
Plan Now to Minimize Impact of Estate and Gift Taxes
By Amy C. O’Hara, CELA It is essential for families with significant wealth to be aware of estate and gift tax limits. An important part of estate planning is making sure that as much of your wealth as possible goes to your heirs rather than to pay taxes. The good news is that both the…
Changes To The Power of Attorney Regulations in New York State
By Laura Brancato, Esq., Littman Krooks LLP Long awaited changes to the New York State Power of Attorney regulations were signed into law by Governor Cuomo on December 15, 2020. The bill, a major overhaul of the existing power of attorney legislation, will substantially change the format and enforceability of the current document in a…
The New York Probate Process
For many, creating a will is the first step in the estate planning process. However, many people are surprised to learn that, even with a will, the distribution of estate property is not always straightforward. In large part, this is due to the New York probate process. A will is a legal document in which…
New York’s Intestacy Laws Explained
As many as six out of every ten Americans have no estate planning documents in place in the event of their death. This shocking statistic, based on a Gallup poll of adults ages 18 and up, poses an excellent question, what will happen if you die without a will? Dying without a will or other…
Can You Benefit From An Asset Protection Plan?
For business owners and professionals, legal liability is a major concern. By creating an asset protection plan, business owners and other professionals can restructure their assets to limit their risk of loss in the event of a lawsuit or other event. An asset protection plan uses legal means to remove assets from the reach of…
Important Announcement Regarding Community Medicaid Applications Look-Back Period
By Stephanie Goldstein, Esq., Littman Krooks LLP Community Medicaid is a needs-based government assistance program that provides long-term care benefits to individuals at home. To qualify, an applicant’s resources and income limits must fall below a determinative limit that is adjusted annually. For the year 2020, that limit is $15,750 for available (non-exempt) resources and…
The Five Responsibilities of an Executor
By Joel Krooks, Esq., Littman Krooks LLP Estate Administration can be a very long and difficult process. It is important to choose the right person as the Executor of your Estate. The Executor is the person responsible for administering your estate. There are five main responsibilities of an Executor (1) Filing for Probate; (2) Marshalling…
Mental Health Issues with Your Elderly Loved Ones
By: Amy C. O’Hara, Esq., Littman Krooks LLP COVID-19 has created many issues, including making the elders in our lives feel stressed, isolated, lonely and hopeless. Below are several helpful tips to keep you connected to your loved one and help support them during this time: Set a time each week when you will call and check…
Identity Theft – It Could Happen to You!
By: Bernard A. Krooks, Certified Elder Law Attorney We hear about it on the news all the time; yet, we think it can’t happen to us. Well, guess what, it can. In fact, it recently happened to me! I received a notice from the NYS Department of Labor advising me that my unemployment benefits had…
Update on the Significant Changes to New York State Medicaid
By Brian L. Miller, Esq., Littman Krooks LLP In April 2020, New York State passed laws that significantly changed the Community Medicaid program, making it more difficult for New Yorkers to obtain benefits for long-term care at home. These changes include creating a 30 month lookback of an individual’s finances for Community Medicaid and creating…
