You want to leave something meaningful behind. But when a loved one struggles with addiction, a standard inheritance can do more harm than good. In these situations, an incentive trust can be a powerful tool. It gives you a way to provide support while encouraging long-term recovery. You don’t have to choose between compassion and […]
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Current Status of NY Community Medicaid Look-Back Implementation
If you’re thinking about applying for Community Medicaid in New York, you’ve likely heard about the pending 30-month look-back period. Understanding this new rule can feel overwhelming. Initially signed into law back in April 2020, the look-back period was supposed to begin shortly thereafter. But repeated delays have left many people uncertain about its status. […]
Everything You Need to Know About the New York Estate Tax
If you live in New York and your estate may exceed the state’s exemption amount, your estate plan needs to account for the state-level estate tax. Even if you won’t owe federal estate tax, your estate could still owe New York estate tax. This is a separate system, and it has rules that differ in […]
Estate Planning for Blended Families: Food for Thought
Families come in many shapes and sizes, and estate planning should reflect that. If you’ve remarried or share children from prior relationships, you may already know that blended families can present unique legal and emotional dynamics. When it comes to estate planning, these dynamics often lead to difficult decisions and competing interests. In New York, […]
Can a Dog Be a Trust Beneficiary?
For many New Yorkers, pets are more than companions—they’re family. You want to know that your dog will be cared for if something happens to you. But can you actually name your dog as a trust beneficiary? The short answer is more nuanced than it seems. Under New York law, your dog cannot directly inherit […]
Elder Law Alert: Long-Term Care Costs Can Consume Your Legacy
You spend decades working, saving, and building financial security. The idea is to pass on something meaningful to your loved ones and leave behind a legacy that reflects your life’s efforts. But one factor threatens to unravel those plans more often than people realize: the cost of long-term care. This is not a hypothetical risk. […]
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