Large Print Guide Available for First Time
Cona Elder Law, a leading elder law and estate planning firm based in Melville, has released the 4th edition of their free publication entitled: “Your Guide to Elder Law and Estate Planning”. The public may call the law firm at 631.390.5000 to request a free copy. This latest edition also has a large print version available for download. Both are available on the website at www.conaelderlaw.com.
Along with updated information related to the new Federal and State estate tax laws and the new Managed Medicaid programs, Cona Elder Law has created several additional sections based on commonly asked questions by clients and colleagues. These include:
- The Nursing Home Admission Process – Selection of a health care a facility, Patient Review Instrument, Medicare coverage and more
- Asset Protection Planning: Preserving assets with a Promissory Note, how it works, including a case illustration
- Medicaid Home Care Benefits: Understanding Managed Long-Term Care at Home – Hours of coverage, tasks, new services available under Managed Care
- Veterans Benefits: Aid & Attendance Pension – Requirements and entitlements for care at home or in an Assisted Living community
- Estate and Gift Taxes – New Federal and State Estate Tax laws, what is counted toward total assets, how the exemption works, annual exclusion gifting
- Do I Need a Trust – Understanding the different types of Trusts and their uses and benefits
Chock full of information in an easy to read format, the Guidebook addresses commonly asked questions from seniors, baby boomers, caregivers and the sandwich generation.
“Along with the Guidebook, it’s important to make sure you have a custom-designed elder law and estate plan that’s right for you and your family at different times of your life,” says Jennifer Cona, Esq., managing partner, Cona Elder Law. “Consult with an elder law attorney, CPA, financial planner and insurance specialist to cover all the bases. An attorney can also be beneficial to advocate for maximum services or admission to your top choice of nursing facility.”
Each year, Cona Elder Law gives away thousands of copies of their free Guide to Elder Law & Estate Planning. This year, they expect to distribute even more of the 2014 regular and large print guides given the many changes in federal and state laws as well as seniors' needs and concerns.
The Guide Book will also explain the Top 10 Myths of Elder Law & Estate Planning and why they’re incorrect.
1. A revocable trust avoids estate taxes.
2. A joint account is not a countable asset for Medicaid purposes.
3. A power of attorney can make health care decisions.
4. An IRS tax-free gift does not count as a gift for Medicaid purposes.
5. A Will governs all assets, even accounts with joint titleholders or beneficiaries.
6. You can’t own a home and be eligible for Medicaid benefits.
7. Life insurance is not part of your taxable estate.
8. An IRA is a countable resource for Medicaid purposes.
9. A young person does not need Advance Directives.
10. A disabled person cannot inherit money without losing government benefits.
Cona Elder Law is recognized as a leading elder law and estate planning firm on Long Island. The firm was ranked the #1 Elder Law firm by Long Island Business News in 2012, 2013 and 2014. The firm provides creative advocacy and cutting edge planning strategies and has been featured in many publications including: The New York Times, The Wall Street Journal, Newsday, L.I. Business News, Kiplinger’s, Reader's Digest and many others. Cona Elder Law attorneys are frequent contributors to Newsday’s Act II “Ask the Expert” column and have appeared as guests on WNBC-TV, CNN-fn, News 12, News 55, Channel 21 "Act II With Newsday" and many radio stations including WOR, WCBS AM and WFAN.
For more information on Cona Elder Law and elder law/estate planning, visit their website at: www.conaelderlaw.com or call 631-390-5000.