Medicaid Asset Protection Trusts (MAPT) are the best way to preserve assets should you be unable to purchase long term care insurance. Sometimes family members presume putting their assets in joint names with their children will help them should they be forced to go into a nursing home and apply for Medicaid. This is a mistake! Putting assets in … [Read more...]
Litigating Issues Involving Wills And Other Assets Taking Advantage Of The Elderly and Infirm – Part III
Fraud involves a situation where there has been a material misstatement of facts that the individual preparing a document such as a will, a trust or opening a joint bank account believed to be true. In this situation even the acts of competent individuals can be tricked into transferring assets or changing the individuals named on bank accounts or … [Read more...]
Litigating Issues Involving Wills And Other Assets Taking Advantage Of The Elderly and Infirm – Part II
Undue Influence Undue influence occurs in situations involving emotional or physical coercion. Threats, flattery and excessive action to persuade an individual to the point where that person no longer has a freedom or will on their own to make decisions as to who should receive their assets, are all examples of undue influence. When the … [Read more...]
Litigating Issues Involving Wills And Other Assets Taking Advantage Of The Elderly and Infirm – Part I
In some societies as parents and other loved ones grow older, the level of respect and help provided to them by their children and other loved ones increases. Sometimes, however, loved ones who are sickly or suffer from Alzheimer’s disease are taken advantage of for financial gain. Examples of inappropriate actions where individuals seek to enrich … [Read more...]
Legal Fees in New York Estates
What Will the Administration Proceeding or Probate Proceeding Cost? When a client approaches an attorney for legal representation regarding an estate matter, the cost of the proceedings is often foremost in their minds. Not all estate proceedings involve the same issues. Some cases involve complicated legal work, while other cases have limited … [Read more...]
Issues to be Considered When Drafting a Will
If you are born, you will die. It is a fact of life. Writing a will is not something most individuals look forward to. However, responsible individuals who want to simplify the lives of their children and other loved ones write wills. A will can help you be sure your assets will go to the persons you want to receive them. A will can ensure if both … [Read more...]
Is There A Right To Die?
Please click on the link below to watch today's video blog: https://youtu.be/DRw_SWl_I_w Elliot S. Schlissel is a member of the National Academy of Elder Law Attorneys. Elliot and his associate lawyers maintain a sophisticated practice handling all aspects of elder law. He can be reached for a free consultation at 1-800-344-6431, 516-561-6645 … [Read more...]
Is There a Right to Die?
Five states in the United States recognize the right to die. In those five states, terminally ill patients can be helped to end their lives. The right to die has been referred to by the negative term “assisted suicide.” However, the new movement to help sick, frail, suffering parents end their lives is referred to as “aid in dying.” The aid in … [Read more...]
Irrevocable Life Insurance Trusts – Part II
Avoiding Estate Taxation on Life Insurance Proceeds To ensure that there is no estate taxation, a life insurance trust must also be the beneficiary of the life insurance policy. Beneficiaries Inherit Even Though Not Named in the Life Insurance Policy Upon your death, the trust will receive the death benefit proceeds from the life insurance … [Read more...]
IRA Distributions and IRS Penalties
If you have an Individual Retirement Account (IRA), once you reach the age of 70 ½ years, you must start making distributions out of the account each and every year. Should you fail to make these annual distributions, significant fines are triggered. These fines can equal up to 50% of the money which was supposed to be distributed in that year from … [Read more...]
