Medicaid is a joint federal and state public assistance program that provides health insurance to low-income Americans, regardless of age, and is based on financial need and hardship. This program is publicly funded through taxes that are collected from each working individual.
Continue reading “Determining Medicaid Eligibility”
Eviction Isn’t Easy:
Navigating the Termination of Lease and Eviction Process
Evicting a tenant usually isn’t on your everyday “to-do” list. Unfortunately, while renting out space to another individual, conflicts may arise. According to landlordology.com, the top five common reasons for eviction are:
- Nonpayment of rent;
- Lease violation(s);
- Property damage;
- Illegal or drug-related activity; and
- Expiration of a lease.
Continue reading “Navigating the Termination of Lease and Eviction Process”
Choosing the Right Business Entity Part II: Corporations and LLCs
Starting a business can be difficult; determining how to set up your business can be even more difficult. When planning to start a business, it is important to keep in mind if you’d like to enter into a venture with another person or if you’d like to start solo. The two most basic types of business, sole proprietorships, and partnerships were discussed in Part I of this article. In this part, we will discuss a type of business that you can start as an individual or with multiple owners and/or investors, namely corporations and Limited Liability Companies.
Continue reading “Part II: Corporations and LLCs”
Choosing the Right Business Entity Part I:
Sole Proprietorships and Partnerships
The decision to start a business isn’t something that is formed overnight; it takes a lot of thought and courage to decide to venture off on your own and create your own company. However, you can’t simply open up your doors the minute you come to the realization that you want to start your own business; there is a large gap in between the decision and opening day. Before you open your doors, you must determine what type of business you’d like to start.
Continue reading “Part I: Sole Proprietorships and Partnerships”
Individuals receiving home care services through a Managed Long Term Care (MLTC) company may find that the agency did not award their family member or loved one with a sufficient amount of hours of home care services after they’ve conducted an evaluation.
The evaluation process by an MLTC can be complex. A person approved for Medicaid Home Care services will eventually have to enroll with an MLTC. The MLTC provider will send an evaluator to assess the recipient’s condition in order to create a care plan that will suit the individual’s daily needs. The evaluator will determine the number of hours per day that the recipient is entitled to receive to assist with their personal care needs. Continue reading “Ensuring Maximum Hours with MLTC Evaluations”
According to the most recent data from the U.S. Census Bureau, there were 2,797,589 people in New York who were aged 65 and over in 2016 which is 14.6% of the state’s population. Compare that number to 2015, when 2,724,135 seniors lived in New York State (14.3% of the population), and 2014 (2,655,913 people ages 65 and over, 14.0% of the population). Continue reading “Expect to Pay More for Home Health and Assisted Living Costs”
A revocable living trust establishes a relationship between:
- The creator of the trust
- The trustee who manages the property within the trust and distributes proceeds to beneficiaries
- The beneficiaries who receive the property in the trust when the term of the trust expires
A revocable living trust allows assets within the trust as well as income generated by those assets to be managed and distributed by the trustee. The trust income and property are then distributed in accordance with the terms and conditions of the trust. This type of trust is referred to as a living trust because it is established during the lifetime of the creator. With a revocable trust, the grantor may revoke the trust at any point by moving the assets into his or her name without the consent of any other party. Continue reading “Revoking a Trust”
Under Article 81 of New York’s Mental Hygiene Law, a court is authorized to appoint a guardian to manage personal or financial affairs of an incapacitated person. Not all guardianships will be the same, as they are tailored to the necessities of the incapacitated person known as the ward. Some guardianships will only be granted to provide assistance with one specific need, whereas others will include assistance with many needs.
Continue reading “Becoming a Legal Guardian”
A revocable living trust allows assets within the trust as well as income generated by those assets to be managed and distributed by the trustee. The trust income and property are then distributed in accordance with the terms and conditions of the trust. This type of trust is referred to as a living trust because it is established during the life of the creator.
Continue reading “Revocable Living Trust”
A Last Will and Testament is an important estate planning document that contains provisions for assets and the distribution of property upon death. Unfortunately, many individuals fail to account for assets that do not pass directly under a Will. These assets may include life insurance policies, pensions, IRAs, and 401(k) or 403 plans. After the policyholder of these assets dies, the policies may distribute the benefits to their heirs at law if there is no beneficiary designation and no Last Will and Testament.
Continue reading “Keeping Your Will Updated and Naming Beneficiaries on Assets”