Category Archives for Consumer Issues/Consumer Protection

PLAN NOW: NEW MEDICAID HOME CARE LOOK BACK RULES TAKE EFFECT 10/1/22

Early planning for Medicaid Home Care benefits is now more important than ever. After much delay and anticipation, new Medicaid Home Care rules are slated to take effect on October 1, 2022. As such, there will be a 30 month look-back period and penalty period for all asset transfers during that time period. Currently, there […]

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Medicaid Alert: New York State Budget

On Saturday, April 9, 2022, Governor Kathy Hochul signed the annual state budget and addressed many important issues facing older adults.  The budget expands Medicaid benefits for people 65 and over as well as benefits for the disabled.  It also increases wages to home health care aides, seeking to revive this industry and help the […]

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Retirement Savings and Required Minimum Distributions: A Review of the Rules

Retirement savings are critical for all of us but so is following the strict laws and rules when taking distributions. Unfortunately, these rules have been changing practically every year, making what was plain old vanilla annual withdrawals now an adventure not for the faint of heart. So let’s check in and review the current rules […]

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2021 Estate Tax Proposals

New federal tax legislation is on the horizon, with significant changes for estate and gift taxes. President Biden’s “Build Back Better” plan, currently wending its way through Congress, proposes to drastically cut the estate and gift tax exemption and make estate and gift tax planning much more difficult. The estate tax is a one-time tax […]

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Senior Scams are on the Rise: Tips to Protect Yourself and Your Loved Ones

Online scams targeting seniors have existed for as long as seniors have been going online. The newest scams rely on victims’ familiarity with legitimate services.Newsday recently reported a Geek Squad email scam that targeted one senior in particular. Diane Belz, 68, had no reason to be suspicious when she opened an email claiming to be from Best […]

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Legislature simplifies the power of attorney process

Published in Long Island Business News by Julianne Mosher Back in December, Gov. Andrew Cuomo signed new legislation, making significant changes to the power of attorney statute. The changes revised, and essentially simplified, the old form and replaced it with one that is easier to understand. But the changes also offer an opportunity for people […]

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Estate Taxes Coming Soon: Are You Ready?

The Biden Administration is preparing to make sweeping changes to our taxes in order to pay for infrastructure projects. The estate and gift tax laws are currently on the chopping block. Many families were not concerned with estate tax planning in recent years with the $11 Million exemption (even more when adjusted for inflation). However, current […]

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Health Care Proxy: A Must for College Aged Children

Imagine this scenario: You are the parent of a college student. Your telephone rings one evening and on the other end is your child’s roommate telling you that your child was just rushed to the emergency room. You call the hospital for information and identify yourself as the parent. The hospital advises you that because your […]

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Holiday Family Gatherings: A Time to Assess

Holiday family gatherings are not just good for catching-up; they are an opportunity to assess your aging loved one’s status and needs. Certain clues can reveal a decline in mental or physical abilities. Here are some things to look out for: Change in Personal Hygiene: Are there any changes in your loved one’s appearance? Perhaps they are not as “put […]

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Senior Scams Are on the Rise: Tips to Protect Yourself and Your Loved Ones

Have you ever received a suspicious phone call or email? Your parents or elderly relatives most likely have. Police and prosecutors say scams against seniors are on the rise nationwide. Here are some common scams targeted towards older adults:Lottery phone scams in which callers convince seniors that a large fee or taxes must be paid […]

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