Richard Joseph Shapiro's Answers

Where do I file LLC papers if I will be moving to another state?

While it is generally true that you would establish the LLC in the jurisdiction of its principal place of business, there are exceptions. If asset protection is a top priority, then sometimes we will recommend looking at a jurisdiction (e.g., Wyoming, Nevada, Delaware) that have the highest levels of statutory protection against creditor claims. While choosing another jurisdiction would require an additional filing in the state of operation, sometimes the trade-off is worth it to the client.

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How to gain gaurdianship of an elderly relative.

This sounds like a typical case where an Article 81 Guardianship may be appropriate. If in fact your grandmother is being taken advantage of, you or some other appropriate person can file a petition with the Orange County Supreme Court to be appointed Guardian over her property and personal affairs. The need for a Guardian must be established by clear and convincing evidence. If you wish to discuss this further, I can be contacted at 845-692-0011, or at rshapiro@mid-hudsonlaw.com

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I am single and own a home- what do i do to protect it. do i get some type of will or trust? i don't know

If you are looking to protect the home from general creditors, the first line of defense (as was already suggested) is an umbrella insurance policy. Beyond that, you would need to consider use of either a limited liability company (LLC) or an irrevocable trust. It is uncommon to use an LLC to own a home, since you would then forfeit any property tax exemptions as well as the capital gains tax exemption which would presently exempt up to $250,000 of capital gains were you to sell the home. An...

If i transfer ownership of a property to my LLC, can someone be entitled to my LLC and its assets if I get sued personally?

A lot depends on when the asset is transferred as well as the nature of the LLC, including the jurisdiction of its formation. As a basic rule, a multi-member LLC serves as the best protective entity, since at least 3 bankruptcy court decisions (although none in New York) have permitted a bankruptcy Trustee to seize assets held in a single-member LLC as part of the bankruptcy proceeding. Also note that to be as protective as possible, the LLC must be formed and funded prior to any claim or...

Can a trust percentage distribution be changed after the death of the maker by an agreement of all adult beneficiaries?

Unless the trust were to specifically provide for such a modification -- or the Trust includes a Trust Protector who would have such a power -- you would likely need to petition the Surrogate's Court to reform the trust.

What are my options regarding a nursing home bill I don't want to pay?

If you do not pay, it is likely you, or the decedent's estate, or both, will be sued by the nursing home. It appears that you would be asserting some form of breach of contract issue -- i.e., the nursing home did not deliver the "promised" standard of care. While it would not be impossible to win such a case, it may be impractical to defend such an action, especially if the amount in question is not too high; legal fees would add up quickly. Of course, you can file a complaint with the...

Can my neighbor request money or put lein on house?

Assuming the money was a loan (as your question indicates), the neighbor could try to obtain a judgment against you for a default. Without a written promissory note, the who matter becomes rather murky -- e.g., what was the agreed upon repayment terms, including an amount of interest. Only if he were to obtain a judgment would he then have a lien against your home (assuming the judgment was docketed with the County Clerk).

What happens if i have small social security and medicaid and i inherit sizeable money?

Inheritances can have great impact on public benefits. As Ellen Victor said, your age will greatly determine how you would need to address this. It is critical that you consult with an Elder Law / Special Needs attorney to discuss your options.

Can my mother add me as joint tenant to the deed for her condo to avoid probate in NY?

Yes, but it's usually a poor planning choice. Adding you as a joint tenant would likely result in the forfeiture of a significant capital gains tax exemption, may create problems for Medicaid eligibility if your mother requires long term care in the future, and would be subject to the claims of any of your current or potential creditors. In almost every case, the better choice would be for your mother to create a revocable or irrevocable trust (or both) to address her estate planning needs,...

My parents are in their late 80's and face nursing home care. they own a home. will medicare take the house its n.y. state.

There are methods we can employ to protect at least some of the the home value, although it is a bit more challenging when both parents need nursing home care at the same time. Typically we will use a part gift / part loan technique, sometimes couple with a "life estate" to reduce the Medicaid "penalty period." I'm located in Middletown, and would be happy to discuss this matter further with you directly. Rich Shapiro