After many years of speculation, warnings and minor revisions, it has finally happened:
New York State has imposed new regulations stating that the use of LIFE ESTATE interests in real property are no longer an effective strategy for families trying to protect 100% of their property from the high cost of long term care.
If you or anyone you know, utilized a LIFE ESTATE within an estate plan in order to protect the interests of a family home, please be sure to call us immediately to schedule a consultation. Don’t wait until it’s too late to do anything about it. We cannot help you restructure your plan if you do not contact us.
Call us at 631-234-3030 to arrange to come in to discuss alternate options while they still exist.