Author Archives: Jay Butchko
Young People Can Afford to Procrastinate Some Parts of Their Estate Plans, but Not Others
It is the middle of the night, and you are painfully aware that, one day, you will die. While you are still a youngster compared to the seniors smiling for their close ups on estate planning law websites, you are mature enough to realize that scrolling through social media or trying in vain to… Read More »
Direct Nursing Care in Nursing Homes
Many seniors will spend time in a nursing home at some point. It may be a brief stay, while you recover from surgery, after which you go back home to continue aging in place. Some people reside in nursing homes for years because their health needs require the care of multiple nurses. The early… Read More »
Voluntary Administration of Small Estates
Probate is a hassle. It is like filing your taxes, except that your stepchildren, in-laws, and all the other relatives who never cared for you heckle you at every step of the process. The good news is that there are ways to prevent most of your property from going through a long, drawn-out probate… Read More »
What the Personal Representative of an Estate Can and Cannot Do
New York law gives you a lot of control over what happens to your property after you die. You can leave property to anyone you choose and disinherit any family member you wish to disinherit; the only person who can claim an inheritance regardless of what your will says is your surviving spouse. Meanwhile,… Read More »
Estate Planning for June Brides
A principle of estate planning states that, whenever there is a new addition to your family, you should update your estate plan. For example, if you wrote your will before you became a grandparent, you should update it to account for your grandchildren. Do they inherit directly from you only if their parents predecease… Read More »
You and Your Spouse Can Write a Joint Will, but You Probably Shouldn’t
You can do almost anything with your estate plan, but some of the estate planning moves that it is legal to make are inadvisable in most contexts. For example, it is possible to qualify for Medicaid nursing home benefits by spending down your assets at least five years before you apply for Medicaid, but… Read More »
What You Do With Your Valuable Personal Property Now Is As Important As Who Inherits It
Estate planning checklists tend to be very specific when it comes to official documents, money, and real estate. They will tell you to write a will, designate a personal representative, and include instructions for the final disposition of your remains. They will advise you to keep as many assets as you can out of… Read More »
Laws That Protect New York Seniors From Fraud and Financial Abuse
Elderly people represent a disproportionate share of victims of financial crimes such as fraud and theft. The vulnerability of seniors to financial crime comes down to several reasons. In some cases, the victim does not notice that the money is missing because the victim is in such poor health that he or she cannot… Read More »
Can New York State Inherit Your Money?
The idea of the state inheriting your money instead of your family inheriting it is enough to scare a lot of people into getting started on their estate plans. Having an estate plan is better than not having one, but your fears that the State of New York will end up with the inheritance… Read More »
In Order to Avoid Ruffling Feathers, Snowbirds Should Develop Their Estate Plans Carefully
Now that you are retired, you get to decide how to spend your time. You no longer have to base your plans around your boss or your kids. If you want to go to Florida and just stay there, that is your prerogative. As every New Yorker knows, though, there is no place like… Read More »