Medicaid was established in 1965 by an act of Congress. Medicaid is designed to deal with healthcare issues for individuals and families who cannot afford healthcare. Individuals applying for medicaid must meet minimum coverage requirements. These requirements are the individual must be under 21 years of age or over 65 years of age or be eligible … [Read more...]
Man Seeks to Recover Property From Decedent’s Home
Please click on the link below to watch today's video blog: https://youtu.be/IbfgPc_ORB8 Elliot S. Schlissel is a member of the National Academy of Elder Law Attorneys. Elliot and his associates have been representing clients for more than 45 years in all aspects of estate litigation, estate planning, drafting wills and trusts, and … [Read more...]
Medicaid Planning; Medicaid Asset Protection Trust
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 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...]
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...]
How Estate Litigation Works in Surrogate’s Court – Part II
The Trial The trial will either be conducted before a jury or by a judge. There are certain issues an individual can request a jury for. If the claims at trial are that the executor, administrator or trustee embezzled funds or acted improperly, the court can order that individual to repay the estate or the trust for the funds which were improperly … [Read more...]
Healthcare Proxy
It is suggested today that seniors living in America have healthcare proxies. A healthcare proxy allows an individual to designate another person to help him or her make decisions regarding healthcare in the event he or she becomes incapable of making those decisions. Healthcare proxies are designed to allow a person when they are cognizant of the … [Read more...]
Handling An Estate in a Nutshell
All human beings that live will eventually die. When a loved one passes, dealing with his or her estate is not a task most people look forward to. However, most people will, during the course of their lifetime, be involved with estate issues concerning a loved one. When the grief passes, the issues involved are who are the heirs of the estate, … [Read more...]
