Long Island estate planning attorneys help you to plan ahead for what happens when tragedy strikes your family. We can assist you in making plans in case you become incapacitated and we can help you to plan for end of life issues as well as for what happens after you pass away. It is important not only for older people to make these plans, but also for young people as well- especially once children are born and parents must make plans for what will happen to their kids if the parents are not …
Can You Give Away Your Wealth to Get Medicaid?
Long Island Medicaid planning lawyers provide you with help making a plan that allows you to obtain coverage from Medicaid when you need costly care that other types of insurance will not pay for. There is a substantial chance you could require Medicaid coverage at some point during the course of your lifetime because Medicaid may be the only source of payment for nursing care. If you must go into a nursing home and Medicaid won’t pay for it because you aren’t eligible for Medicaid benefits, you …
A Long Island Estate Planning Lawyer Explains in Forbes The Importance of Preparing to Live Longer than You Expect
Life expectancies are getting longer, and more people are living to older ages than could have been imagined just a few decades ago. As Long Island estate planning lawyer Mark Eghrari explains in an article in Forbes, many seniors are also hoping to remain independent and continue living in their own homes for as long as they can. While a longer life is a good thing, living longer unfortunately increases the risk of running out of money during the course of your retirement. This could create …
Why Asset Protection is More Important if You’re Getting Older
Long Island asset protection attorneys provide invaluable help making effective use of legal tools to keep your money and property safe. There are many possible sources of loss that you could experience, with the biggest risks you face determined by your own unique situation. However, for most people, the risks of losing wealth increase as you age - so it becomes increasingly important to make an asset protection plan as you are getting older. Eghrari Law Firm is here to help. Our Long …
What is a Springing Power of Attorney?
Long Island elder law lawyers provide help to clients in planning ahead in case they become incapacitated. A car accident, a stroke, or many other types of illnesses or injuries could cause you to become unable to act on your own and unable to manage your own assets. You need to make a plan for what happens if you cannot control your own money or property any longer, otherwise substantial financial loss could potentially occur. Eghrari Law Firm can explain your options for determining who …
A Long Island Estate Planning Lawyer Writes in Forbes About the Challenges in Determining Whether to Leave All Your Assets to Your Kids
hen you have a substantial nest egg, you will need to decide how much money you actually want to leave to your children. While some parents assume it is best to leave their full estate to their children, you need to consider the impact that an inheritance could have on the lives of your kids. There is a big concern among wealthy parents about the possibility that a large inheritance will lead to their children losing motivation. As Long Island estate planning attorney Mark Eghrari explained …
What if Money is Left to a Minor?
Long Island probate attorneys represent families going through the probate process. As Investopedia explains, the probate process can take around a year or so to occur and to facilitate the transfer of wealth to heirs or beneficiaries designated in a last will and testament. The process can take even longer if there are complications that arise. One potential problem that could come up during the probate process: the problem of assets being left to a minor who is under the age of 18. A …
A Living Trust is Key if You’re the Family Breadwinner
Long Island living trust attorneys can help you to determine if the creation of a living trust should be a part of your estate plan. Many people could benefit from the use of a living trust but they do not make one because they don’t realize what these trusts are used for or because they think only people who are wealthy need trusts. You could be missing out on a powerful, important tool for the protection of your assets and for the protection of your loved ones if you do not make a living trust …
A Long Island Estate Planning Lawyer Explains in Forbes Why Equal Isn’t Always the Fairest Approach to Providing an Inheritance
When you are making your estate plan, you want to be fair to all of your heirs or beneficiaries. However, as Long Island estate planning lawyer Mark Eghrari explains in a Forbes article, this does not always mean that you want to distribute your assets equally. For example, if you have two children and you have $1 million to distribute among them for an inheritance, it may seem fairest to give each child $500,000. However, if you already paid $250,000 for your oldest child to go to college …
Why It’s Important for Your Family to Know Where Your Assets Are
Long Island estate planning attorneys can help you to create a plan to facilitate the cost-effective and timely transfer of assets to your loved ones after you pass on. Far too many people don’t have a comprehensive estate plan in place, and they jeopardize their wealth and their ability to leave a legacy because of it. For example, one common problem that arises during the probate process is that there are missing assets which the executor of an estate and heirs or beneficiaries are not able to …
Key Downsides to a Will
Long Island estate planning lawyers can help you to create a last will and testament so you can specify who you want to leave assets to. However, while a will is a standard estate planning document that many people use, it may actually not be the best or only tool that you should use for the creation of your estate plan. You want to ensure you have an appropriate plan in place that actually protects your assets and provides for your beneficiaries and you should talk with an experienced attorney …
In a Forbes Article, A Long Island Elder Law Attorney Advises That When You Pass Away, You Should Leave Memories Behind
When most people think of an inheritance, it is money that they think of first. However, as Long Island elder law attorney Mark Eghrari explains in a Forbes article, money is not the only important thing when it comes to leaving a legacy behind for your loved ones. Your family members will also want to know about their history, and you should make it a point to leave behind your memories so your family history is not lost forever. There are many different ways that you can tell the story of …
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