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Amoruso & Amoruso
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How to plan for the legal issues and expenses of nursing home care. Some of the truths may be hard to hear but can still be beneficial to know about, as myths about nursing home expenses are discussed in The Sentinel article “Five myths about nursing home costs and estate... Continue reading
Posted 15 hours ago at New York Estate Planning & Elder Law
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It will most likely be difficult or impossible to complete the tasks if all the facts are not available. When you go to visit an elder law and estate planning attorney, it is important to tell the truth about all aspects of your family members and other potential heirs. If... Continue reading
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A will can prevent a tough situation from occurring. There is a type of estate scenario that is described in the My San Antonio article, “Using power of attorney in daughter’s estate,” that demonstrates the importance of having a will, no matter how old you are. The challenge is untangling... Continue reading
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Claiming to be from Social Security may give scammers a better chance of getting your assets. Federal authorities say they have seen a number of scammers move away from claiming to be IRS agents to claiming to be from Social Security, according to The New York Times in “Latest Rash... Continue reading
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A “cost of care” survey reveals high annual expenditures for care. People are often unaware of the fact that health insurance and Medicare will pay little, if any, of the costs of long-term care, according to the New Hampshire Business Review in “The dilemma of long-term care.” Some families may... Continue reading
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There are reasons for a will to be contested and one is the mental capacity of the client. The best way to avoid a will contest, is to have a well-written will prepared by a qualified estate planning attorney, who can help avoid legal contests. It is also important that... Continue reading
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Once you’re on Medicare, you can’t have it both ways. Many people find it useful to have a Health Savings Account. However, they can run into difficulties when they enter the world of Social Security, according to CNBC in “Near retirement and have a health savings account? Beware of snags... Continue reading
Posted Jun 14, 2019 at New York Estate Planning & Elder Law
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There are many trusts and they fall into two categories. Estate planning has many options to achieve various purposes and trusts are one of the key ways to accomplish those goals, according to the Aiken Standard in “ON THE MONEY: A look at different types of trusts.” Some are created... Continue reading
Posted Jun 13, 2019 at New York Estate Planning & Elder Law
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Predatory marriages are on the increase and one state works toward a solution. A predatory marriage, which is when one party is lacking capacity and is exploited by another party into a marriage, is a form of elder financial abuse, according to the New York Law Journal in “Predatory Marriages... Continue reading
Posted Jun 12, 2019 at New York Estate Planning & Elder Law
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Planning ahead can make the problem easier to handle. When parents have passed away, there are many challenges that heirs could face, including the condition of the home to the pain of selling the family homestead, according to The Washington Post in “With proper planning, selling a parent’s house can... Continue reading
Posted Jun 11, 2019 at New York Estate Planning & Elder Law
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What is a power of attorney and what is the purpose? We all like to make our own decisions but unfortunately, there may come a time when we cannot. That is when a power of attorney becomes critical, according to Lancaster Online in “Why you’re never too young for a... Continue reading
Posted Jun 10, 2019 at New York Estate Planning & Elder Law
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Retirement at age 65 may become a thing of the past. The participation rate in the workforce in people of retirement age has gone to more than 20% for the first time in 57 years, according to Crain’s New York Business in “America’s elderly are twice as likely to work... Continue reading
Posted Jun 7, 2019 at New York Estate Planning & Elder Law
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Seek out an estate planning attorney with knowledge of special needs planning. If you do not have good guidance, it is possible that leaving assets to a disabled family member will cause them to lose their benefits, according to The Ledger in “Crafting an estate plan to include disabled family... Continue reading
Posted Jun 6, 2019 at New York Estate Planning & Elder Law
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When everyone is comfortable, it is time to move forward with discussion. The key to learning about the financial plans of your parents is to ask for advice on your plans and then ask about their plans, according to “Ask your folks about their financial plans.” Start by explaining your... Continue reading
Posted Jun 6, 2019 at New York Estate Planning & Elder Law
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There are benefits to being self-employed. However, saving easily for retirement hasn’t been one of them. Without an automatic withdrawal from a regular income payment, it’s tough for the self employed to save toward retirement. However, there is an option, according to Next Avenue in “A Retirement Plan for the... Continue reading
Posted Jun 6, 2019 at New York Estate Planning & Elder Law
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Don’t procrastinate on some of the larger issues in life. It is often easy to become wrapped up in the day-to-day issues of everyday life. However, it is important to note that if you don’t plan on what will become of your assets, then the laws of your state of... Continue reading
Posted Jun 6, 2019 at New York Estate Planning & Elder Law
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Whether you want to keep it, depends on the kind of insurance. People obtain life insurance at a time in their lives when they need protection. However, what happens when the nest becomes empty and you are financially secure? The question is tackled by the Milford Beacon in “Should you... Continue reading
Posted May 31, 2019 at New York Estate Planning & Elder Law
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The IRS and those holding your school loans can take aim at your benefits. You have worked your whole working life for Social Security in your retirement and it is relatively safe from creditors, with a few exceptions, according to Yahoo! Finance in “Can Creditors Come After Your Social Security... Continue reading
Posted May 30, 2019 at New York Estate Planning & Elder Law
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You don’t want to be struck down with an illness and have your preferences unknown. Even if you are single, you don’t want to be left with your health care in question should you become suddenly ill, according to Morningstar in “2 Estate-Planning Tools That Singles Should Consider.” How do... Continue reading
Posted May 29, 2019 at New York Estate Planning & Elder Law
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Shortcutting the process can save money now. However, it will be costly later and cause problems for heirs. Trying to work around estate planning with limited knowledge can often create more problems than it solves, according to My San Antonio in the article “Estate planning workaround idea needs work.” The... Continue reading
Posted May 28, 2019 at New York Estate Planning & Elder Law
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Tom has health care issues and Louise can no longer care for him. Tom and Louise have been married for half a century and live in the same home they bought when first married. They are worried about possible nursing home costs and should be, according to the Pittsburgh Post-Gazette... Continue reading
Posted May 27, 2019 at New York Estate Planning & Elder Law
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You don’t want to be struck down with an illness and have your preferences unknown. Even if you are single, you don’t want to be left with your health care in question should you become suddenly ill, according to Morningstar in “2 Estate-Planning Tools That Singles Should Consider.” How do... Continue reading
Posted May 24, 2019 at New York Estate Planning & Elder Law
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The basics of estate planning can deal with various situations. Since family situations differ greatly, there can be challenges and opportunities as the members deal with estate planning basics, according to the Chicago Tribune in “Dealing with property transfers and gift taxes.” In a situation in the article, the family... Continue reading
Posted May 24, 2019 at New York Estate Planning & Elder Law
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The next generation may be willing to continue. However, it is important to prepare for the legal issues. If it turns out that the next generation of a family with a farm wants to work it, you have a good start at succession. However, you will also need an estate... Continue reading
Posted May 23, 2019 at New York Estate Planning & Elder Law
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It can get tricky if you have an age gap or earnings gap. When a couple starts thinking about Social Security, they had best do some research because there are some costly mistakes that can be made, according to Considerable in “How couples can avoid a costly Social Security mistake.”... Continue reading
Posted May 22, 2019 at New York Estate Planning & Elder Law