365 Route 59, Suite 231 ~ Airmont, New York 10952
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Just In Time

Wow, what a morning. It started with one of our staff expressing her desperate measures to keep birds from coming into her house. Everything is sealed up; the windows are closed, the attic is shut, yet every now and then a new bird pops in and launches yet another quest…

Thousands of Elderly and Disabled SSI Recipients Accused of Owning Property That Isn’t Theirs

In December 2018, the Social Security Administration (SSA) had a nasty surprise for Laura Marshall (not her real name), a 74-year-old woman just scraping by in senior citizen housing in New York City’s Harlem neighborhood: The agency demanded that she repay more than $10,000 in benefits, claiming that she owned…

Medicaid’s Home Care Waivers Can Help You Avoid a Nursing Home, But the Line May Be Long

Medicaid long-term care benefits traditionally pay mainly for nursing home care, but the federal government can grant “waivers” to states allowing them to expand Medicaid to include home and community-based services. The downside is that receiving care in a nursing home is an entitlement, while getting care at home is…

Trust Me, You’re Gonna Like This – The See-Through Trust as a Beneficiary

August 12th, 2019 Jim Blankenship – https://blankenshipfinancial.com/ One area that often gets short shrift in discussions of IRAs and beneficiary designation is the use of a trust as the beneficiary. Part of the reason behind this may be the perceived complexity of trusts in general; at any rate, it’s not…

Court Cannot Reform Medicaid Recipient’s Deed Because It Would Affect Medicaid Agency’s Right to Estate Recovery

A Massachusetts land court rules that a Medicaid recipient’s estate may not reform a deed to treat the recipient’s property as though it was transferred before she died because the reformation would unfairly prejudice the right of the Medicaid agency to recover from her estate. Casey v. Papamechail (Mass. Land Ct., No….

Revocable Trusts Are Not Always Treated the Same as an Individual

June 1, 2021 by Steve Hartnett  A revocable trust is usually treated the same as the individual who created the trust. For federal income tax purposes, a revocable trust is a “grantor trust” under section 676 of the Code. Therefore, all items of income and expense of the trust flow through to…

How to Start a Funeral Planning Conversation

May 27, 2021 by Gail Rubin Estate planning attorneys see it all the time. Most clients avoid the funeral planning conversation, even though advance planning can reduce stress at a time of grief, save money and head off family conflict. We have ample evidence that humans have a 100% mortality rate. It’s…

How You Can End Up in Medicare’s Donut Hole, and How You Get Out

Medicare prescription drug (Part D) plans can have a coverage gap—called the “donut hole”–which limits how much Medicare will pay for your drugs until you pay a certain amount out of pocket. Although the gap has gotten much smaller since Medicare Part D was introduced in 2006, there still may be…

“Last Will and Testament” Origin

Have you ever wondered why the dispositive instrument in which you express your wishes is called a “Last Will and Testament?” Few people, including Estate Planning attorneys, know the reason. In fact, the history is a little muddy. Occasionally, clients will ask this question. Now you’ll know the answer! It’s…

Saying Medicaid Estate Recovery Keeps Families in Poverty, Advocacy Groups Call for Abolishing It

To qualify for Medicaid coverage of long-term care, you must satisfy very complicated financial eligibility rules—rules that often can be traps for the unwary. One of the most significant traps is Medicaid’s right to recover its expenses from your estate after you die – a practice known as “estate recovery.” Under…