Safeguard Your Future By Planning Today
If you already have an estate plan know that you are ahead of the game. The vast majority of Americans do not have an estate plan in place — this is in spite of the fact that we just lived through a pandemic that had us all questioning what the future would look like....
According to a survey conducted by Caring.com, approximately 2/3 of Americans do not have an estate plan. If you have elderly parents without an estate plan, you might be wondering if you should discuss it with them. Talking about estate planning with parents can be a...
You have probably heard of a trust before, but did you know there are two kinds of trust? Many people are unclear on the function of each type of trust, making estate planning confusing. Do not worry if this sounds like your situation. Here are some similarities and...
In a bid to qualify for Medicaid, some seniors may consider gifting large assets, such as their homes, to their children, friends or other family members. While doing this may seem like a shrewd strategy, such an action can have unintended consequences for the giver...
There are a lot of things that most of us know are good for us, but we still struggle to get around to doing. Estate planning is one of those things. Still, it might come as a shock to learn that up to two-thirds of Americans don't have an estate plan. This figure...
MEMORANDUM New York Law, under the Surrogates Court Procedure Act § 1301(1), provides a simplified method of collecting assets titled in a decedent’s name alone at the date of death, as long as the gross value of the assets do not exceed Fifty-Thousand Dollars...
Medicaid announced that they are again delaying the implementation of the new look-back rules for Homecare services (including all Community based, long-term care) and it appears that a penalty for transfers made on or after October 2020 will be imposed. The new...
What Does the Acronym ABLE stand for in NY? “ABLE” is an acronym for “Achieving a Better Life Experience” legislation which was signed into law by President Obama in December of 2014, as part of the Tax Increase Prevention Act of 2014. The legislative intent of ABLE...
Medicaid in New York is on the verge of big changes- it will go from never having imposed transfer penalties for Community Medicaid to imposing penalties for transfers of assets or gifts made on October 1, 2020 and thereafter. Although Medicaid is not to impose a...
At Corliss Law Group, P.C., we are committed to helping our clients plan for the future and protect their hard-earned money and assets. Lately, we have been receiving more questions regarding Medicare fraud from people who keep getting contacted by supposed Medicare...
