Income and Estate Planning for New York’s Senior Citizens
March 16th, 2018 by David Goldfarb
Retirement can pose many different types of financial planning challenges. Today, as inflation dramatically increases the cost of healthcare, housing, and even groceries, many New Yorkers are finding that their retirement savings insufficient to meet their living expenses. A New York elder law and estate attorney, however, can help retirees develop comprehensive plans that effectively […]
How New Yorkers Can Take Advantage of the New 2018 Estate and Gift Tax Exemption Increases
March 9th, 2018 by David Goldfarb
While many Federal lawmakers wished to eliminate estate and gift taxes entirely, the 2017 Tax Cuts and Jobs Act did not do so. Instead, legislators compromised on a temporary increase in the exemption amounts for these taxes. This increase could benefit certain age groups that are in the process of estate planning. There has also […]
New Federal Advisement May Affect the Safety of New York Assisted Living Residents
February 23rd, 2018 by David Goldfarb
During his first year in office, President Donald Trump has worked to reduce as many federal regulations as he can. There are pros and cons to any federal regulation. Opponents and supporters will continue to debate the prudence of these measures, but in the meantime, real lives are affected by the removal of safety protections. […]
Some Medicaid Recipients May Have to Apply for Medicare in Order to Be Eligible
February 9th, 2018 by David Goldfarb
For many New Yorkers, Medicaid benefits are a vital part of their overall health care plan. Maintaining these benefits are a crucial step toward ensuring they and their families receive needed medical care. However, some Medicaid recipients must first apply for Medicare as a condition of their eligibility for Medicaid. The experienced New York elder […]
New Tax Bill Will Temporarily Lower the Threshold for Medical Expense Deductions
February 2nd, 2018 by David Goldfarb
The new tax bill that President Donald Trump signed into law in December 2017 contains many controversial provisions. American taxpayers must carefully examine them to determine how these changes will affect them. One important provision has received little media attention but has the potential to help Americans with high medical bills. The attorneys at Goldfarb […]
How to Pay a Live-In Home Health Aid
January 26th, 2018 by David Goldfarb
Many adults with health issues require around-the-clock assistance—at least when they are awake. While some people will move into long-term care facilities, many others will want to remain in their own homes where they feel most comfortable. The home health care industry provides important assistance to those adults who want to stay at home but […]
Exempt Transfer of Home to a Caretaker Child
January 22nd, 2018 by David Goldfarb
A Great Incentive for Caring for Your Parent in the Family Home Many of our clients and their adult children are concerned both with the escalating costs of long-term health care and the quality of the care. An adult child that becomes a caregiver for a parent is one way that families deal with these concerns. […]
ABLE Accounts in New York
January 19th, 2018 by David Goldfarb
If you are a disabled individual in New York and you exceed certain asset restrictions, you will lose eligibility for important government benefits such as Medicaid or Supplemental Security Income (SSI). However, while such individuals must save money for qualified expenses, many people do not know how to go about saving without losing their benefits […]
Know Your Rights: Observation Status
January 12th, 2018 by David Goldfarb
Medicare has limited coverage for nursing home care. Also, Medicare will only cover care you get in a nursing home if you first have a “qualifying hospital stay.” A qualifying hospital stay means you’ve been a hospital inpatient for at least three days in a row. Your doctor may order “observation services” to help decide […]
Protecting Assets while Qualifying for Government Benefits
January 11th, 2018 by David Goldfarb
As you age, you may require an increasing amount of medical care—including home health care or a move to a skilled nursing facility or another type of long-term care facility. Such care can cost a lot of money, so seniors understandably want to qualify for as many government benefits as possible. To be eligible for […]
