Estate Planning Tips for Childless Couples
Childless couples are becoming increasingly common today. These couples have unique considerations to make when planning their estates. If you and your partner count yourselves among them, creating an estate plan can seem complicated but, nevertheless, it is critical in the absence of obvious heirs. Whether assets are left to another family member, a friend,…
FAMILY FINANCE: Rules on renunciation and Medicaid
While my father was in a nursing home receiving Medicaid, his sister died and left him money in her will, and to his children if he died before she did. I am his only child. My lawyer prepared a renunciation and had my father sign it. The lawyer said this was to facilitate the transfer of funds to me without Medicaid claiming it. My father passed away in 2006. Medicaid states that renunciation is not allowed by Medicaid patients, and they are going to court to claim the funds that are still in my aunt’s estate. After paying the lawyer $3,000, do I have any recourse?
Have You Reviewed Your Child’s IEP?
By Marion M. Walsh, Esq., Littman Krooks LLP It may be time to review your child’s Individualized Education Program (IEP) and ensure that it is correct and that it accurately reflects your child’s needs. If you have not received a copy of the IEP, contact your district immediately. The law requires that your child have…
What If Your College-Aged Child Has A Medical Emergency: FERPA AND HIPAA
By Marion M. Walsh, Esq., Littman Krooks LLP The transition to college and young adulthood, while exciting, can be difficult for parents. Parents must not overlook obtaining advance consent from their children so they can have access to important health and educational information—or risk begin left out in an emergency. Once a person turns 18,…
Estate Planning for the Art Collector
The value of a fine art collection is both monetary and sentimental. Unlike other investments like stocks or real estate, art is often a passion and becomes very personal. It can be challenging for collectors to think about how they will incorporate their collection into their estate planning. Careful forethought is essential for the collector…
5 Rights Your Child Has in School That You Should Know About
By Marion M. Walsh, Esq., Littman Krooks LLP As your child heads back to school this year, make sure you know his rights and entitlements to services. Federal and state laws protect the rights of students in school, yet many parents are unaware of their child’s legal protections as a student. Here are five rights…
Allowable Expenses for a Special Needs Trust
A Special Needs Trust (SNT), also sometimes referred to as Supplemental Needs Trust, is a type of trust used to provide supplemental benefits to individuals with disabilities without disqualifying them for government benefits such as Medicaid and SSI. An SNT pays for goods and services that government benefits do not otherwise provide for. Examples of…
Peter Falk’s Law
If someone prevented you from seeing a family member for the holidays, failed to tell you a family member fell sick, or worse, failed to notify you of a loved one’s funeral, what would you do? Catherine Falk, daughter of the late Peter Falk, who portrayed Lieutenant Columbo on the TV series “Columbo,” faced these…
The Difference Between Durable Power of Attorney and Healthcare Proxy in New York
A durable power of attorney and a healthcare proxy, also known as a medical by proxy, are legal tools commonly used when estate planning or in caring for another person. Although similar in that they each are the appointment of an agent to act on behalf of someone else, they have differences that set them…
Revocable and Irrevocable Living Special Needs Trusts
Once you have decided to establish a Living Special Needs Trust, you must also decide whether or not this trust will be revocable or irrevocable. There are benefits and drawbacks of each type of trust, and you must carefully consider your family’s circumstances before making a decision.
With a Revocable Trust, you retain the right to add or subtract assets to the trust at any time. This gives you a great degree of flexibility, as you can manage the trust according to your family’s changing life circumstances…