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Elder Law & Estate Planning

Ringing in the new year brings updated estate and gift tax exemptions amounts for 2024.
Elder Law & Estate Planning

2024 Estate and Gift Tax Exemptions

By Amy C. O’Hara, CELA Ringing in the new year brings updated estate and gift tax exemption amounts for 2024. The federal estate and gift tax exemption has now risen to $13.61 million per person, allowing married couples the advantage of portability, effectively safeguarding $27.22 million from estate taxes upon death. The tax rate for…

Transferring your real property to a Revocable or Irrevocable Trust can be an effective estate planning tool to help your estate avoid probate, plan for Medicaid or to avoid an estate recovery from Medicaid.
Elder Law & Estate Planning

Transferring Real Property to Trust and Informing the Insurance Company

By Joel Krooks, Esq. Transferring your real property to a Revocable or Irrevocable Trust can be an effective estate planning tool to help your estate avoid probate, plan for Medicaid or to avoid an estate recovery from Medicaid. When the real property is transferred to a Trust, it is important to inform your homeowners and umbrella…

The SSI Savings Penalty Elimination Act proposes to update SSI’s asset limits and to eliminate the program’s marriage penalties.
Elder Law & Estate Planning

What is the SSI Savings Penalty Elimination Act?

By Jessica A. Saio Social Security Income (SSI) provides money to approximately eight million people, including many individuals with disabilities, to help afford daily living. The federal government has had the same rules in place for over thirty years regarding how much money people can earn, save, and have in their bank accounts if they…

A terminal illness diagnosis is traumatic for the ill person, caregivers, and loved ones. To that end, my clients have found this list particularly helpful, and I hope you do too.
Elder Law & Estate Planning

Planning Tips When Confronted with a Terminal Illness

The Special Needs Alliance’s new issue of The Voice® is written by fellow SNA member. Nicola Melby of McCarthy Summers Wood Norman Melby & Schultz, PA in Stuart, FL. The firm serves Martin, St. Lucie, Indian River, Okeechobee and Palm Beach counties in Florida in the areas of elder & special needs law, estate planning, guardianship, and wills…

SSI is a federal program that provides financial assistance to individuals with disabilities, low-income individuals over the age of 65, and certain blind individuals.
Elder Law & Estate Planning

Applying for Supplemental Security Income

By Brian L. Miller, Esq. What is Supplemental Security Income? Supplemental Security Income (SSI) is a federal program through the Social Security Administration (SSA) that provides financial assistance to individuals with disabilities, low-income individuals over the age of 65, and certain blind individuals. To be eligible for SSI benefits, one must meet the following requirements:…

The public health emergency ended on May 11, 2023, and as recently as March 2023, Medicaid has been sending Medicaid recipients a recertification application. The automatic renewal is has ended. Medicaid recipients must submit the recertification with the required documentation on time or else Medicaid can be discontinued. For anyone who applied for Medicaid during the public health emergency, this will be the first time they need to recertify, and this may come as a surprise to many Medicaid recipients.
Elder Law & Estate Planning

Medicaid Recertification

By Joel Krooks, Esq. Prior to March 2020, Medicaid recipients had to recertify for Medicaid every year. However, from March 2020 to March 2023, Medicaid cases were automatically extended because of COVID-19 and the public health emergency. The public health emergency ended on May 11, 2023, and as recently as March 2023, Medicaid has been…

The following is a summary of current bills the SNA is tracking which may benefit individuals with disabilities, and aging clients.
Elder Law & Estate Planning

Special Needs and Elder Law Proposed Legislation of Interest

By: Amy C. O’Hara, CELA I recently attended the Special Needs Alliance meeting. The Special Needs Alliance (SNA) is a national organization comprised of attorneys committed to the practice of disability and public benefits law. This organization is by invitation only of which I have the privilege of serving as President Elect of their Board…

Estate planning is important for every family for several reasons, however, it becomes critical if you have a child with a disability.
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 2.0 builds on the SECURE Act that was enacted in 2019 and continues to change retirement plans for individuals.
Elder Law & Estate Planning

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…

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.
Elder Law & Estate Planning

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…