Posts Tagged ‘ny elder law’
The Department of Labor’s Office of Disability Employment Policy released statistics in July pegging the unemployment rate for individuals with disabilities at 16.4 percent. The unemployment rate for persons without disabilities remained at 9.5 percent. On July 26, President Barack Obama signed an executive order entitled “Increasing Federal Employment of Individuals with Disabilities.” The order [...]
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Parents often face many challenges when preparing an estate plan, as they must consider how best to provide for their children after they are gone. Parents of a child with special needs, though, are faced with several unique challenges. They will want to develop a plan that safeguards the quality of the child’s life, supplementing [...]
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If you have a child with special needs, you should talk to extended family members who may be intending to make a gift or bequest. Extended family members may have your child’s best interests at heart, but they may be unaware that the money they leave to your child could jeopardize eligibility for government benefits. [...]
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When a couple is divorcing, it is important that they do not forget their commitments to their child with special needs. Most importantly, any child support for the child with special needs should be allocated under the separation agreement to a Special Needs Trust. This will ensure that these assets will not affect the child’s [...]
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Establishing legal guardianship for a person with special needs can be a costly procedure, and these financial expenses can put a significant strain on many families. Caring for their loved ones is already an emotionally taxing process, and families do not need to feel financial pressure on top of this. In order to help families [...]
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It is important for all parents to plan for their child’s protection and care in the future and having an estate plan will ensure this kind of protection. Estate planning when an adopted child is involved is often a complicated process, as it involves a number of factors that are not necessary when planning for [...]
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Establishing a Special Needs Trust for a loved one with disabilities can ensure that he or she will be taken care of in the future. However, it is important for families to choose the right type of trust. There are two major types of Special Needs Trusts: testamentary and intervivos. The major difference in these [...]
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According to the Pew Research Center, currently around 30% of adult children in America contribute financially to the care of parents. Expenses range from medical care to assisted living care to simply making sure the household contains enough food. As a result, plans for one’s own future care may need to include plans for the [...]
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Starting January 1, 2010, the rules governing conversion of traditional IRA or 401(K) accounts to a Roth IRA will change. Through the end of 2009, only people with a modified adjusted gross income of less than $100,000 are eligible to convert traditional accounts to a Roth IRA. The income restriction will be lifted in 2010, [...]
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Until the end of 2009, the inheritance tax, also referred to as the estate tax, stands at 45 percent for estates over $3.5 million. The tax will sunset at the end of the year, for one year only. It will then be reinstated in 2011 at the rate of 55% with an exemption of $1 [...]
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