Access to affordable medical care is especially important during a global health crisis. You should be aware that federal law prevents states that have accepted increased Medicaid funding from terminating Medicaid benefits while the coronavirus health emergency continues. New York is among those states, by accepting $323 million in enhanced Medicaid matching funds provided in the Families First Coronavirus Response Act.
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I have seen many cases where a client wants to leave money to a professional adviser – lawyer, accountant, financial adviser, physician – and in many cases there may have been overreaching, or perhaps more.
A person can leave her or his property to anyone under the terms of a will, trust or “beneficiary designation.” You can do whatever you want with your money: give it to a family member, a neighbor, friend, lover, your church, your lawyer, accountant or financial adviser, or the society for the protection of beetles. You can do this during your lifetime or have it take effect after your death.
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by Frank E. Hemming III, Esq., Senior Associate Attorney
We are sharing an important advisory about the future of New York State’s Medicaid program. Following the passage of the 2020-2021 State Budget, we now know there will be significant changes to how seniors and disabled individuals will become eligible for and receive Medicaid benefits in their homes.
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Creating and executing an estate plan is a process that requires thought and consideration. You must identify the beneficiaries who are going to inherit the assets that you worked a lifetime to acquire, how your beneficiaries are going to receive those assets, and whom to entrust to make decisions on your behalf in the event of incapacity. Once your estate planning documents are created and executed, many clients believe the estate planning process is completed. But, what is often overlooked is where your estate planning documents should be stored.
by Pierro, Connor, & Strauss, LLC.
As the COVID-19 pandemic continues to spread through the country, more people are realizing the importance of getting their estate planning documents in order. Those over the age of 60 are particularly at risk for developing complications from the novel coronavirus infection. Having in place documents — including a durable power of attorney, a health care proxy, a medical directive, a HIPAA release and a will — is essential in the event that illness strikes.
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As the coronavirus spreads across the United States, nursing home residents are among the most vulnerable to the disease. How do you try to ensure that your loved one stays healthy?
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The Coronavirus health emergency is a reminder that life is unpredictable, and it makes sense to be prepared. Threats to life and finances posed by the pandemic offer ample reason to reevaluate your estate plan — or create one if you haven’t already.
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With Coronavirus dominating news coverage and creating alarm, it is important to know that Medicare and Medicaid will cover tests for the virus.
Read moreThe 2020 census is starting soon, and seniors need to be counted. This may be more of a challenge this year because for the first time, the census will be completed largely online.
Read moreAs baby boomers age, more and more millennials are becoming caregivers. Many are taking on this role while just getting started in their own lives, leading to difficult decisions about priorities. Proper planning can help them navigate this terrain.
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