Safeguard Your Future By Planning Today
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...
Whether the centerpiece of your estate plan is a Last Will and Testament or a Trust, the questions below may be helpful in collecting your thoughts to discuss your wishes at an estate planning consultation. You may use this guide in any manner that you wish - whether...
The Process Probate is the Court proceeding brought by the Executor of an estate in order to transfer a decedent’s assets pursuant to their Last Will and Testament. Probate affects only those assets that do not transfer automatically by operation of law - such as...
