New York Medicaid has undergone a number of proposed changes since the COVID-19 pandemic began. Many of these were part of a broader...

A new bill recently signed into law, referred to by some as the “Big Beautiful Bill”, introduces several significant changes to Medicaid. These adjustments may affect how older adults access and maintain their Medicaid benefits. If you or a loved one rely on Medicaid, it is important to understand what is changing and how it may impact your healthcare coverage. Shorter Reimbursement Periods: Previously, Medicaid allowed for up to three months of retroactive reimbursement.

A Special Needs Trust (SNT) is a specific type of trust which preserves a beneficiary’s ability to receive needs-based government benefits such as Medicaid and Supplemental Security Income (SSI) by ensuring that assets set aside or gifted to an individual with special needs are not inadvertently counted towards the government asset limits used to determine eligibility. This article will discuss how this type of trust allows beneficiaries to remain eligible for government ben

The three most unpleasant words for a real estate investor are “capital gains tax”. However, there is a way to defer this tax for many years and if done right, with some careful estate planning, it might be possible to completely avoid capital gains taxes on investment properties. The strategy begins with the 1031 exchange rule. A 1031 exchange is a swap of one real estate investment property for another. This swap allows capital gains taxes to be deferred. An exchange ca

While we celebrate with our loved ones this holiday season, we should not forget those who struggle financially every day, including the holidays. With that in mind, below is a list of financial assistance programs offered in New York. Please pass this information on to anyone you know who may be in need. Happy Holidays and a healthy and prosperous New Year. Supplemental Nutrition Assistance Program (SNAP) – This program offers assistance to low-income working people, seni

Many people are interested in adding a trust to their estate plan but do not know what type of trust may be appropriate for them. There are two main types of trusts, Revocable and Irrevocable. Each has its own unique benefits and each is appropriate for specific situations. An estate planning attorney can help guide you in your search to find which trust is right for you. As discussed in a prior post, a Revocable Trust, often called a Revocable Living Trust, is a flexibl

While not everyone’s situation renders a Revocable Trust necessary, when considering how to go about your estate planning, it is important to know that there are certain advantages to having a Revocable Trust as opposed to a simple Will. The following are just a few of those advantages: Save time and money by eliminating the need for Court Intervention. A Revocable Trust does not need to be probated and the division of assets can begin immediately after the death of the dec

I am proud to be volunteering and assisting in the Mortgage Foreclosure Assistance Project through the Nassau County Bar Association...

We don’t like to think about it, but the reality is that every one of us will die at some point. When that time comes, if we haven’t taken the time to prepare a Will, things may not go in our and our loved one’s favor. There are many reasons why it’s crucial to have a Will in place. Here are just a few: 1. Designate who will inherit your assets and property. The main benefit for New York residents is having control over who inherits the estate and possessions of the deceas

Being a first time home buyer can be a very confusing and stressful experience. Choosing the right team of people to help guide you...

Variables to consider in the current real estate market when deciding whether to purchase real estate in New York.