Proper Beneficiary Designations

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We have been discussing the importance of proper beneficiary designations in wills and living trusts. Generally, the most frequent type of designation seen is, assuming no surviving spouse, “to my children, in equal shares, per stirpes.” This means that a distribution will be made to the surviving family members when …

New York State Disability Law Passed

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Recently, a law (Executive Law, Article 25) was passed in New York State which requires that persons with disabilities reside in the most integrated setting possible regardless of their age. New York State must now develop and put into place a plan which allows persons of all ages to be …

Updating the Health Care Proxy

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Last year legislation was enacted to allow for organ donation provisions to be included on Health Care Proxies. The Department of Health has now revised the standard Health Care Proxy form in order to accommodate for organ donation provisions. Furthermore, the standard form itself has been altered to allow for …

Medicaid and Joint Accounts

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Often seniors who may be potential Medicaid applicants are under the mistaken impression that if they add their children’s names on the title to their financial accounts (banking or brokerage) that this is considered giving up control of some or all of their money and that at some point, it …