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Elder Law & Estate Planning
Estate Planning for the Special Needs Family
By Amy C. O’Hara, CELA Estate planning is important for every family for several reasons, however, it becomes critical if you have a child with a disability. In creating a well thought out estate plan you can ensure your child is protected both financially and personally. Part of your plan will include designating a guardian…
SECURE ACT 2.0
By Joel Krooks, Esq. On December 29, 2022, President Biden signed SECURE 2.0 Act into law. SECURE 2.0 builds on the SECURE Act that was enacted in 2019 and continues to change retirement plans for individuals. Increase in the Age for Required Minimum Distributions: SECURE 2.0 increases the age individuals begin taking required minimum distributions…
New York Medicaid Increases the Asset and Income Limits in 2023
By Brian L. Miller, Esq. Beginning January 1, 2023, New York State will increase its asset and income limits for Disabled, Age 65+ and Blind (DAB) Medicaid applicants and recipients seeking long-term care benefits. Changes to Asset Limits: For both community and nursing home Medicaid applicants and recipients, the available asset limit will increase to…
Understanding NYC’s Directive on Involuntary Treatment for Individuals with Mental Illness
By Nicholas N. Khayumov, Esq. On Tuesday, November 29, 2022, Mayor Eric Adams issued a directive to give the police increased authority to assist the rising homeless population in New York City who have apparent mental health issues and are not receiving adequate treatment. According to news reports, the city has seen an increase in…
New Legislation Strengthens Support For Older LGBTQ New Yorkers
By Brian L. Miller, Esq. Legislation was recently signed into New York State law broadening the term “greatest social need” as it pertains to the Older Americans Act of 1965 (“OAA”). The OAA is a Federal Act established authority for the federal government to make grants to states for community planning and social services, research…
Medicare Fees to Decrease in 2023
By Brian L. Miller, Esq. The Center for Medicare & Medicaid Services (CMS) recently announced that there will be a decrease in the cost of monthly premiums for Medicare Part B in 2023. Monthly premiums for Medicare Part B, which covers routine doctor visits and outpatient care, is scheduled to decrease by 3%. Currently, the…
Numbers to Know for Estate Planning in 2023
By Joel Krooks, Esq. The IRS just released the estate tax exemption amount and the annual exclusion amount for the year 2023. Both amounts are set to increase from 2022. The estate tax exemption amount will increase from $12.06 million in 2022 to $12.92 million per person in 2023. This is a $860,000 increase. This…
Update on the Thirty-Month Lookback Period for New York’s Community Medicaid
By Brian L. Miller, Esq. In April of 2020, New York State passed laws significantly changing the Community Medicaid program for all New Yorkers, including the implementation of a thirty-month lookback for all asset transfers. These laws were intended to take effect in October 2020 but have been pushed back several times due to the ongoing…
Planning for Inflation and the Rising Costs of Senior Care
By Brian L. Miller, Esq. Over the years we have all witnessed the steady rise in the cost of senior care, be it nursing home, assisted or independent living, or home health aides. Unfortunately, with the increased inflation we’ve experienced over the past year, the cost of senior care is rising at an alarming rate.…
What Happens if Someone Dies Without a Will?
By Brian L. Miller, Esq. If someone dies without a valid will, the court will divide their assets according to the New York intestacy laws. These rigid laws are intended to be a backup plan to ensure that someone’s assets have somewhere to go upon their death and do not end up escheating to the…
