by Daniel J. Schuller, Esq. | Feb 20, 2020 | Estate Planning, Lookback, Medicaid
Income is any form of income received, including, Social Security, Pensions, 401K distributions, IRA distributions, rental income, interest earned, and dividends. Individual (not married) The institutionalized individual can use his/her income to continue paying...
by Linda Stravalaci Grear, Esq. | Jul 1, 2019 | Assets, Digital Assets, Durable Power of Attorney, Estate Planning, Long Term Care, Medicaid, Medicare, Paying for Care, Power of Attorney, Reverse Mortgage
There are a number of ways to pay for your long-term care. Here is a summary … Private Pay: In Western New York, the average cost of care for a skilled care nursing home is between $12,000 – $16,000 per month. Although self-pay may not be the preferred...
by Linda Stravalaci Grear, Esq. | Dec 28, 2018 | Estate Planning, Probate, Tax Exemptions, Taxes
2019 Federal Estate Tax Exemption: 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...
by Amanda Scott, Esq. | Dec 17, 2018 | Estate Planning, Long Term Care, Medicaid, Paying for Care, Probate
Probate is a Surrogate’s Court process that allows for the legal administration of a decedent’s estate. Probate becomes necessary any time a decedent has passed away while owning property in his or her sole name. For those assets, the family has no legal authority to...
by Jean Harris, Esq. | Dec 3, 2018 | Estate Planning, Long Term Care, Medicaid, Paying for Care
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...
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