Author Archives: Jay Butchko
Transferring Real Estate To Heirs Through A Life Estate Deed In New York
A common real estate conundrum involves how to maintain real estate during your lifetime while effectively passing it to your heirs after you pass on. Typically, this is done through a will that devises your home to an heir or set of beneficiaries. However, this necessarily involves the probate process and can delay the… Read More »
Asset Protection V. Estate Planning: What Is The Difference?
Asset Protection Asset protection refers to the process of shielding assets (such as real property, stocks, bonds, business interests, etc) from creditor claims, levies, liens, and seizures. Developing a plan with an experienced law firm will help to ensure your assets are covered in a smart and – most importantly – legal manner so… Read More »
Digital Assets And Accounts In Estate Planning
Creating an estate plan to distribute your savings and assets after death may seem straightforward at first. You’ll create a will listing your belongings and property holdings. Retirement accounts, 401k plans, stock holdings, trusts, and the like are all routine considerations as well. Perhaps you haven’t taken those first steps at all — a… Read More »
10 Common Mistakes In Asset Protection
Whether you are just starting to consider an asset protection plan, or have already begun, you may be aware of some important things to check off your list. You’ll also need to remember some things to avoid as you plan ahead, and common mistakes others make: Not Making an Estate Plan in Combination with… Read More »
5 Keys For Selecting A Trustee
When you establish a trust, you must also select a trustee to manage the trust’s assets after you pass away, and make sure that the trust is administered in accordance with your wishes. This could be anyone from a close relative to a corporate trustee. Because of the risks inherent in administering a trust… Read More »
What Are “NYSARC” Trusts And How Can They Help Me?
Many people count on SSI, Medicaid and other government benefit programs to meet their financial needs as they get older or suffer income instability and health issues. Another benefit option for New Yorkers is establishing a trust through NYSARC Trust Services. This can help keep a person with disabilities eligible for government benefit programs… Read More »
Planning For Nursing Home Care: Medicaid Eligibility And Financial Planning Options
Nursing home and institutional care is costly, to say the least. A prolonged stay can wipe out a person’s life savings, destroying all that they have worked for and frustrating their plans to leave a legacy to their children or grandchildren. And what about the patient who has run out of money but still… Read More »
Buying A Home As An Unmarried Couple
Buying a home continues to be a worthwhile investment. It offers a sense of security in having a place to actually call your own while building equity, rather than simply paying rent. However, for an unmarried couple, there are legal issues you need to be aware of. Questions To Ask Yourself If You Are… Read More »
Asset Protection Goals For The New Year
When most people think of asset protection, they think of financial strategies designed to better manage wealth. While that is an important consideration, assets are more than just money in the bank.Take a quick inventory of the things that matter most to you. Regardless of your occupation, the amount of property you own, or… Read More »
Make Aging In Place Your Goal For This Year
A new year means new resolutions geared to achieving goals and improving your overall lifestyle. If you are an older adult, make one of your aging in place. Our Bronx & Westchester estate planning attorneys explain the advantages and how to make it a reality. The Advantages of Aging In Place Aging in place… Read More »