New York Medicaid eligibility rules impose strict limitations on who can qualify for Medicaid coverage. Unfortunately, for those who do not qualify, the financial consequences can be severe. If you require costly medical care or if you need nursing home care, you could end up spending a lot of your personal wealth if you don't qualify for Medicaid. This can be an especially big problem for seniors who have often worked hard to acquire savings and who end up needing nursing home care and having …
Five Surprising Things a Long Island Estate Planning Attorney Can Help With
Many people think of a Long Island estate planning attorney as someone who helps them to create a will. Although this is one key task that an attorney does, it is far from the only task an estate planning lawyer can help with. In fact, there are a lot of things which an estate planning attorney can do that may surprise you. If you want to find out all of the different ways in which a Long Island estate planning attorney can assist you in protecting yourself, protecting your family, and …
Free Report: How Large of an Estate Can a New York Citizen Pass Federal Estate Tax Free?
The estate tax may or may not be fair, but it is a reality that you must address when you are planning your estate as a high net worth individual. If you are married there are some details that you should be aware of as you plan ahead with tax efficiency in the forefront of your thinking. Each person in a marriage has his or her own estate tax exclusion. As a result, there is a total $10.5 million exclusion for a married couple in 2013. Plus, the estate tax exclusion has been portable since the …
Free Report: Long-Term Care Are You Getting Prepared
The MetLife Mature Market Institute conducts a survey every year that examines long-term care costs around the country. They provide national averages, and they also drill down further to provide the average costs within specific states and metropolitan areas. In 2012 the national average charge for a single day in a private room in a nursing home in the United States was $248. If you get out your calculator and multiply this by the number of days in a year you come up with an annual expense of …
When Should You Start Planning a Will?
The process of planning a will is not necessarily something anyone likes to think about. No one wants to imagine what will happen after they are gone, or at the end of their life. Still, no matter how old you are, it is responsible to plan ahead in case something happens to you. This means making a last will and testament. Eghrari Law Firm can help. Our Suffolk County estate planning firm offers comprehensive assistance with making a will. We not only help you to ensure your will is …
Top Causes of Disputes in Estate Litigation
Estate litigation is commonly in the news, because there are so often disputes over celebrities estates. From AOL's summary of the 10 Most Infamous Inheritance Feuds to People Magazine's article on the litigation surrounding Robin William's estate, there are no shortage of examples of celebrity families fighting over property, assets, and legacies. The reality, however, is disputes over estates do not just happen to famous people or to the fabulously wealthy. Any time someone passes away, …
Reasons to Talk to Trust Lawyers Before Creating a Trust
If you are creating a plan for the future which includes trusts, you ned to talk with trust lawyers. Trusts are a very powerful tool to protect your assets. Trusts can be useful to provide protection both during your life and after you are gone. However, you need to make sure you understand how different types of trusts work and what the benefits are of creating different kinds of trusts. Eghrari Law Firm can help. Our Suffolk County trust lawyers are dedicated to providing you with the very …
Free Report: McNair & Morrison: A Tale of Two Estates
In a tragic murder-suicide NFL quarterback Steve McNair was killed by his girlfriend in 2009. He was married at the time, and he was the father of four children. His wife Mechelle was the mother of two of the children, and the two other children were conceived with different women before he was married. His NFL contracts over the course of his career paid him over $75 million. And of course as a high-profile professional athlete you can make additional money through commercial endorsements and …
Credentials to Look for in Estate Planning Attorneys
Estate planning attorneys provide invaluable services to clients. People of all ages should talk with attorneys to plan for end-of-life issues and to plan for asset distribution after death. It is also important for people at all income levels to have a plan for the future. Good estate planning attorneys can offer personalized advice which is just right for anyone's specific life situation. Many people do not know how to hire an estate planning lawyer, or where to begin the search for an …
Will an Inheritance Tax Be Assessed On Your Estate?
Many people believe inheritance tax and estate taxes are the same things, but they are not. The amount of estate taxes due is calculated based on the value of the property which the deceased person owns. Estate taxes are paid when assets transfer to beneficiaries. The income or assets of the person who inherits does not affect the taxable amount. Inheritance taxes, on the other hand, are calculated based on people receiving property and are affected by the recipient's income as well as the value …
Does a Revocable Trust Protect Your Assets?
A revocable trust is a popular tool used in estate planning. However, many people are not aware of its limitations. While creating a revocable trust can make sense for certain types of asset protection, it does not help with many other issues affecting your assets. You need to know the rules for different types of trusts as you make your estate plan. It is a good idea to get proper legal help from a wills and trusts lawyer so you can choose the right legal tools to use to protect your …
Asset Protection Essential as Tax Scam Targets Seniors
Asset protection is important for seniors because many people like to target the elderly with scams. As a senior becomes older and unable to manage his or her own affairs, asset protection tools can allow the senior's property to be managed for him. Seniors can also make provisions to ensure their assets are not going to be lost due to estate taxes or nursing home bills by getting the right legal help with asset protection. Eghrari Law Firm understands all of the unique challenges which …
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