PB Elder Law Blog
Don’t Panic – Get Help Now!
You may have read the recent Buffalo News article addressing the cost of skilled nursing care in Western New York. I am asking you to take a moment to think about the years of work and sacrifice and how long it took you to accumulate your assets. Now compare that to how quickly a lifetime of savings can be spent in a place where no one ever wants to have to live. It’s scary!
Caring for Loved Ones with Alzheimer’s Disease
It seems that every day we are hearing of another person who has been diagnosed with Alzheimer’s disease. Recently, we’ve learned that retired Supreme Court Justice Sandra Day O’Connor has been diagnosed with the Alzheimer’s, which will likely impact the rest of her life severely.
2019 Federal and NYS Estate Tax Exemptions
Effective January 1, 2019, the Federal Estate Tax Exemption is $11,400,000.00 per person, through December 31, 2025. Effective January 1, 2026, the Federal Estate Tax Exemption will sunset and revert back to $5,490,000.00, per person.
How Can I Avoid Probate?
A general rule of Estate Planning is to plan AHEAD. We want to know that we have decision-makers standing at the ready if the time comes when we cannot make health or financial decisions for ourselves. We want to be able to cover the cost of any care we need without bankrupting our families. We want to ensure we are taken care of and we want to leave a legacy.
It’s NEVER too late to plan
A general rule of Estate Planning is to plan AHEAD. We want to know that we have decision-makers standing at the ready if the time comes when we cannot make health or financial decisions for ourselves. We want to be able to cover the cost of any care we need without bankrupting our families. We want to ensure we are taken care of and we want to leave a legacy.
Preventing Elder Financial Abuse
According to Consumer Reports, older Americans lose up to $30 billion a year to elder financial abuse with the misappropriation of money by con artists and thieves who are strangers to them, or by trusted friends or family members.
Do I Really Need a Power of Attorney?
One of the questions we hear most often is “Do I really need a Power of Attorney?” Most people assume that a Power of Attorney is only needed for the very sick, elderly, or wealthy, and not for the young. The simple answer is “Yes!” In fact, everyone who is over the...
Q: Am I Going to Lose My House if I (or My Spouse) Need Care?
A: NO! One of the most common concerns of people coming to our office to talk about estate planning and asset protection is protecting their home in the event that long-term care is necessary for themselves or their spouse. Indeed, in the Western New York area it is...
Veterans Administration Improved Pension Benefits Amendments (Aid & Attendance)
New rules go into effect October 18, 2018. Aid and Attendance – Pension funds available to qualified veterans and their surviving spouses whose unreimbursed medical expenses are greater than their income. Available to Veterans and to surviving spouses of Veterans, who...
Will I Need to Spend $1 Million on My Spouse’s Nursing Home Care?
I met with Henry and his children recently to discuss Henry’s wife, Rita who had been diagnosed with Alzheimer’s disease in 2016. While Henry had been able to care for his wife and handle the household chores, things changed suddenly after Rita had taken a fall after...
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