Cona Elder Law


All posts by seotech

Protecting Assets in a Crisis With Promissory Note Planning

Federal laws passed in 2005 severely restricted Medicaid asset protection planning. The law was aimed at eliminating the transfer of asset strategies at the so-called “crisis” phase, that is, last-minute transfers of assets just prior to or immediately after an individual’s placement in a nursing home. However, the federal law left open one planning strategy […]

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Three Ways to Protect Your Family Home on Long Island

Many families are concerned about losing their homes to the high cost of health care, and rightfully so. How can you protect your home? There are many ways, each of which has Medicaid planning consequences and tax consequences. 1. Outright Transfer You may give your home to another individual, such as a spouse or child, by signing a […]

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A Guide to Pooled Income-Only Trusts

Medicaid recipients are required to contribute their “surplus” monthly income to their care provider before they can receive benefits. Specifically, an individual is only entitled to keep a maximum income allowance each month and any monthly income over this amount must be “spent down” before Medicaid will pay for the individual’s care. However, qualified elderly […]

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How to Keep Your Estate Plan Current

When and how often do you need to review and update your estate plan? The answer will vary from person to person, family to family, but a number of factors will be influential. Stay Up To Date on Estate Taxes Any changes to the federal and/or New York State estate tax laws may impact your […]

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Do I Need a Trust?

As you plan for your future healthcare needs, what steps should you take to protect your assets? Should you set up a trust? If so, how do you know what kind of trust is right for you? Types of Trusts  There are many different kinds of trusts, each of which serves a different purpose. Some […]

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How To Protect Your Parent’s Assets From Nursing Home Costs

Asset protection– It’s something that many people don’t think about until it’s too late. When a parent or loved one enters a nursing home, the cost of care can quickly eat away at their life savings. In order to protect your parent’s assets from nursing home costs, there are a few things you can do.  […]

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Aaron Carter

Aaron Carter’s Death Emphasizes the Importance of Having a Will

At the age of 34, Aaron Carter, musician and teenage heartthrob of the 1990s, has reportedly passed away without a Will. What does this mean for his loved ones and family members, including his brother, Backstreet Boy Nick Carter? He is survived by a fiancée, but not a surviving spouse. What inheritance rights, if any, […]

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