NYS Department of Health has increased income and resource limits for Medicaid applicants who are over 65, blind & disabled based on the 2023 Federal Poverty Levels and further adjusted them on 2/14/23.
Until now, New Yorkers could almost instantly qualify for Medicaid Home Care services by transferring assets one month and being considered financially eligible for Medicaid Home Care services the following month. This made Medicaid Home Care services a very attractive alternative for New York residents in need of long term care at home.
Nobody knows when their time will come – but most adults have the capability to at least make some basic plans for that time. As we age, thoughts inevitably turn to estate planning. Some people leave it too late and the resulting confusion, delays and expense can be hard on surviving family members at a […]
While news stories about the families of famous or wealthy people contesting wills in court suggest otherwise, trials for contested wills are not particularly common in New York. Will disputes among beneficiaries and family members are quite common but the frequent use of “no contest” clauses by estate planning lawyers can make legal challenges risky […]
For millions of Americans, the country’s recent transition to a new administration will have a significant impact on tax and estate planning. This is particularly true for high-income earners and high-net worth individuals, but even those with more modest incomes and assets may be affected. In general, many families who have been safe from exposure to estate taxes and other forms of inheritance tax for the past decade are going to find themselves incorporating estate planning into their overall financial planning strategy.