In this article, you can discover… Whether DIY wills are recognized under New York law. Common mistakes people make when attempting to handle estate planning alone. The benefits of using an experienced estate planning attorney to protect your assets and your wishes. What Are DIY Wills In Estate Planning, And Are They Legal In New York? Yes, estate planning documents that you have typed up yourself or downloaded online are valid in New York, so long as they contain all the language and structure required by State law. DIY documents meant to go through probate must also be signed before two witnesses who have also sworn to a self-proving affidavit. Having said that, trying to draw up your own estate planning documents without the help of an attorney is incredibly risky. The manner in which you have titled your assets may in fact not be processed through your Will at…Read More
In this article, you can discover… The purpose and benefits of a Medicaid asset protection trust. The types of assets that can be legally placed into a trust. When to create your Medicaid asset protection trust for the best possible outcomes. What Is A Medicaid Asset Protection Trust, And How Does It Work Under New York Law? Medicaid asset protection trusts help you protect your assets from being counted against Medicaid's eligibility threshold. By placing these assets within the trust, you give up your ability to directly access them for your own benefit, but you also protect your ability to fund long-term care through Medicaid. You also protect these assets for your beneficiaries. To avoid Medicaid's look-back period, the trust must be established and assets transferred at least five years before you apply. If your trust is newer than five years and you suddenly require nursing home care, you may…Read More
Planning for the future and all the unexpected things it may bring is one of the most responsible things you can do. This is true regardless of whether you have assets of significant value or have a more modest estate and simply want to ensure your loved ones are taken care of. Yet, unfortunately, so many put off estate and Medicaid planning until it’s too late. Hiring an estate planning lawyer can provide you with invaluable peace of mind and go far in facilitating financial security. Handling everything on your own can be overwhelming and incredibly risky, all at the same time. That’s why the Law Offices of Joanne Schlenk McAvey, PLLC. in Deer Park, NY, is dedicated to helping you through the entire estate planning process, no matter your background. We’ve prepared this article to that end, too. In it, we hope to overview the immense value of hiring…Read More
