Protecting the “Granny Flat”

How Do I Protect My Right to Continue Living in My Son and Daughter-in-Law’s House if Something Were to Happen to My Son?

By Pierro, Connor, & Strauss, LLC.

QUESTION:

My son and daughter-in-law bought a house with a “granny flat” attached. I gifted them the money for the down payment and in return, I can live in the granny flat until my passing. My daughter-in-law and I do not always get along. How can I protect my right to live on the property should anything happen to my son?

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Q&A with Peter J. Strauss, Esq. – Transferring a Life Estate

Can I transfer my interest in a house my parents own in a Life Estate without affecting their Medicaid?

QUESTION:

My parents have a life estate in a home that they gifted to me six years ago. I want to transfer the home to my brother. My parents own a dog that has been deemed dangerous, and I don’t want the liability of owning the home. If we transfer the house, will the Medicaid look-back include this change? 

PETER’S ANSWER:

There are two issues here. First, the basic question is whether you have any liability if the dog were to bite and harm someone. The answer is no. It’s their problem.

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How to Divide Up Personal Possessions Without Dividing the Family

Allocating your personal possessions can be one of the most difficult tasks when creating an estate plan. To avoid family feuds after you are gone, it is important to have a plan and make your wishes clear.  

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Three Steps You Can Take to Protect Your Digital Estate

By Pierro, Connor, & Strauss, LLC.

While the internet makes our lives more convenient, it also adds new complications.  For example, what happens to all our online data and assets if we become disabled or pass away?

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Held Captive in a Pandemic

By Anthony Khatchoui, Esq.

Take yourself back to December 31, 2019, there is excitement and hope throughout the world for the upcoming year. The possibilities seem endless. There are investments to make, businesses to expand and goals to conquer. Nothing can stop your pursuit of achievement…

Well, almost nothing. Suddenly, in the early months of 2020, we are faced with the challenges of COVID-19 and the world is forever changed. Governors across the country issued executive orders mandating all nonessential businesses to close in-office personnel functions and banning all nonessential gatherings of individuals.

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Estate Planning When You Live in Two States

Hand luggage at the airport in front of an airplane

Many people have homes in two states. Legally, you do not need separate estate planning documents for each state, but it may make sense from a practical perspective.

The Constitution of the United States requires that states give “full faith and credit” to the laws of other states. This means that your will, trust, durable power of attorney, and health care proxy executed in New York (Just to pick one state) should be honored in the state where you have a second home. That’s the law.

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States May Not Terminate Medicaid Benefits During the Coronavirus Pandemic

By Lorese Phillips, Esq.

Access to affordable medical care is especially important during a global health crisis.  You should be aware that federal law prevents states that have accepted increased Medicaid funding from terminating Medicaid benefits while the coronavirus health emergency continues. New York is among those states, by accepting $323 million in enhanced Medicaid matching funds provided in the Families First Coronavirus Response Act.

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Elder Law Q & A: Naming Beneficiaries in a Will

By Peter J. Strauss, Esq.

My mother named her financial adviser and his children as beneficiaries in her will. Is it legal for her attorney to allow this?

ANSWER: 

I have seen many cases where a client wants to leave money to a professional adviser –  lawyer, accountant, financial adviser, physician – and in many cases there may have been overreaching, or perhaps more.   

A person can leave her or his property to anyone under the terms of a will, trust or “beneficiary designation.” You can do whatever you want with your money: give it to a family member, a neighbor, friend, lover, your church, your lawyer, accountant or financial adviser, or the society for the protection of beetles. You can do this during your lifetime or have it take effect after your death. 

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Drastic Changes to New York Medicaid Home Care to Start October 1

by Frank E. Hemming III, Esq., Senior Associate Attorney

We are sharing an important advisory about the future of New York State’s Medicaid program. Following the passage of the 2020-2021 State Budget, we now know there will be significant changes to how seniors and disabled individuals will become eligible for and receive Medicaid benefits in their homes.

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What to Do and Not Do with Your Estate Planning Documents

document filing

Creating and executing an estate plan is a process that requires thought and consideration. You must identify the beneficiaries who are going to inherit the assets that you worked a lifetime to acquire, how your beneficiaries are going to receive those assets, and whom to entrust to make decisions on your behalf in the event of incapacity. Once your estate planning documents are created and executed, many clients believe the estate planning process is completed. But, what is often overlooked is where your estate planning documents should be stored.

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