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Louis P Lepore
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Louis Lepore’s Answers

17 total


  • My son is handicapped and my mother put her home in trust for my son, her grandson. What will happen to the home?

    Will my son ever receive the money from the home or ever live in the home when my mother passes on. She has 5 kids who are left out of the Will. What can we do to get this out of my sons name? Please advise. Thanks

    Louis’s Answer

    My advice is very straight forward-get a copy of the trust and retain an estate planning attorney who is knowledgeable in special needs planning to review the trust. It highly likely that your mother may have placed her home in special needs trust for the benefit of your son.

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  • Does the Executor of a large estate need to file a tax return for state & federal? 1st year only or multiple?

    If an estate is worth between 12 and 16 million does the executor need to file state and federal return? If probate last many years do they need to file again every year until probate is finished? If so is both State and Federal required again? De...

    Louis’s Answer

    Since estate should be a taxable Yes contact a probate/ Trust attorney and tax attorney. Every year (not necessarily calendar year) an estate is open and has taxable income a federal fiduciary income tax return (Form 1041) is required, and in most states, a state return as well. (as stated by another attorney), Estate tax Returns should be filed with 9 months unless an extension was filed. Finally beneficiary in the state of New York you should be able get a list of assets under the Uniform Rules For The Surrogate's Court part 207 section 207.20(a)(2)(iii) “…At any time after six months from the date of the decedent's death, if any "person interested," as that term is defined by SCPA 103(39), makes a written request for such a list, the fiduciary or attorney of record shall furnish the list, within 21 days of the mailing of such request…” This may be helpful in determining the true value of the estate. ONCE again have let me stress have an attorney represent you it your best course of action.

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  • Mom is 87 and gave each adult child a $100,000 cd. Can this money be taken away by law for any reason?

    Someone said they can demand the money if she goes into a nursing home and what if money has been spent?

    Louis’s Answer

    The 1st thing you should do is consult with elder care attorney. Gifts made by an individual during the five-year Medicaid look-back period will generally disqualify that person for nursing home Medicaid benefits for a period of time based on the dollar value of the gifts made. The nursing home or the medicaid agency could commence an action of Guardianship or purse the recipients of the gift.

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  • While I was in rehab I signed a POA to my Dad. He placed all my assets in a trust. I am not a beneficary. Legal?recourse?TY

    Mom and Dad are trustees.wife and children are beneficaries.

    Louis’s Answer

    The first thing you should do is go to trust attorney to review your facts and circumstance surrounding the execution the Power of Attorney (POA) to ensure that you had the capacity to sign. Furthermore as stated below the "if the funds were transferred by your agent for his personal use" this may be grounds to set aside the transfers.

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  • How do I appeal the administrator of estate decision?

    My father passed away in April in a house fire. He left behind no will, however, he was still legally married to my mother at the time of his death. My parents have been separated since 1998 and my mother has been in multiple relationships with ot...

    Louis’s Answer

    You should retain an attorney to represent you so that an objection can be filed opposing your mother's appointment as administrator.

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  • How difficult (and costly) will it be to probate an "original" Will when others exist?

    Mom passed 3/2013. During her 6-year stay with a sister (POA) she had mom's Will changed 2x (mom was mentally incapacitated). During Guardianship Petition (4/2012 - 3/2013) sister's POA was stripped due to abuse (co-mingling of funds--all under D...

    Louis’s Answer

    You have a difficult case and should consult a probate attorney on this matter. In General terms a Will is not valid until the Surrogate issues letters testamentary, however it may cost you anywhere from $15,000 to $100,000 to win your this type of case, since your grounds to invalidate the Will would be lack of capacity and/or undue influence.

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  • When someone applies for Medicaid, and when listing their assets, does the spouse's assets count toward the applicant's total

    What if both names are on bank accounts, and 50% is owned by spouse, does only 50% of all money in accounts count toward the applicant's total assets ? Does spouse's assets like CD's count toward the applicant's assets ? Do you know what max is f...

    Louis’s Answer

    My first suggestion is to seek the advice of Elder Law Attorney with specialization in Medicaid application. Most of the time the assets of the married couple will be view by the medicaid agency as one singular. economic unit. However the asset and income criteria for qualification for nursing home and home care Medicaid differ as do the Medicaid qualification requirements for a married couple as compared to a single person. If you or a family member needs assistance from your local governmental agency that administrates Medicaid you really do need to seek out Elder Law Attorney, in order to avoid the traps and a delay in care.

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  • I am the executor to my father's estate. I wanted to know when the estate will be disbursed completely.

    My father died last October. I wanted to know when the estate would be completely disbursed. All bills and taxes have been paid. My nephew sued the estate and has gotten paid already. Is there a normal time frame that this has to be done in legall...

    Louis’s Answer

    It is best to hire a Probate attorney with Litigation experience to really address your concerns.

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  • Re: elder law , when spending down to become medicaid eligible, how much can you legally gift to siblings

    my mother is newly admitted to nursing facility for rehab, the prognosis is not good, palliative care for the moment

    Louis’s Answer

    Before you do anything hire an experienced Elder Law Attorney. An elder law attorney with all of your mother's relevant information will be able answer questions about gifts. Medicaid rules are extremely complicated and confusing. Inadequate planning can result in a total disqualification of benefits and no personal assets to pay for the cost of care. If they improperly gave their assets away, even if the gift was to a charity or for a very good reason, they can and will be denied Medicaid benefits. They would be faced with the impossible task of getting the donated money back or forfeiting benefits. Medicaid is a governmental benefits program which is primarily funded by the federal government and administered by each state. Most times, the rules vary from state to state because each state is allowed to set it’s own standards for eligibility and benefits. Medicaid pay for long term care in an assisted living facility, group home, or nursing home. Medicaid will pay for custodial care and long term rehabilitative care. The Medicaid program is there to help people out. By default, the Medicaid program has become the long term care insurance of the middle class. However, in order to take advantage of this program, one must meet very strict eligibility requirements, .These tests surround a person’s ability to pay their own way, and probes into a person’s finances for the 5 years prior to making an application for benefits under the program. It is highly recommended that you see an elder law attorney and/or other qualified professional before developing an appropriate plan.

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  • Is it necessary to file an state accounting with the Surrogate (Suffolk Co., NY) for an estate where the only asset was a condo?

    The condo has now been sold and my 2 daughters are equal beneficiaries. Do they have to sign off on the accounting before they get their share of money from the estate account?

    Louis’s Answer

    A fiduciary can settle her account in any of three ways: by an informal accounting on receipts and releases, by obtaining a decree on the receipts and releases, or by a formal judicial accounting.
    a. Informal Accounting on Receipts and Releases.

    It best that they should sign at least informal accounting on receipts.

    THE INFORMATION PRESENTED IN THIS COMMUNICATION IS EDUCATIONAL MATERIAL AND IT IS NOT INTENDED AS SPECIFIC ADVICE CONCERNING ANY INDIVIDUAL LEGAL, TAX OR ACCOUNTING MATTERS AND DOES NOT PROVIDE LEGAL, TAX OR ACCOUNTING ADVICE.

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