Future Planning in New York
It's smart to plan in advance for a potential severe disability, sickness, or death. A comprehensive review of your personal, family, financial, and other circumstances can guide you to do whatever is necessary and wise to prepare for these events.
Preparation for Disability, Sickness, and DeathA major disability, sickness or even death can affect any of us at any time. Important matters that we attend to every day like taking care of our children, handling our business and financial affairs, and attending to our medical needs may be severely impaired without advanced planning and preparation. At worst, medical personnel will keep you alive if you are brain-dead and/or in constant, severe pain even when that is the last thing you desire for yourself. And, upon your death, who gets your assets (and debts), who becomes responsible to wind up your final affairs, and who takes custody of your children become decisions of state government. Any special needs for disabled or impaired beneficiaries, state and income tax considerations, and other important matters may not be effectively addressed without advanced planning and preparation. You can address all of these concerns NOW with properly designed documents, including a Last Will and Testament, Power of Attorney, Health Care Proxy, and a Living Will. What can YOU do: -Check your records to see if you have all of these documents prepared and safely stored. Make sure to review them and update them as necessary. What the JOHN SUDA LAW FIRM can do for you: -If you want your existing documents reviewed for continued effectiveness my firm will do that for you quickly and at low cost. -We can update existing documents as necessary or draft a fresh set for those who have none.
Special Considerations in a WillHave you considered and prepared for income tax consequences as well as estate tax consequences in your will/estate plan?? Bequeathing property to a beneficiary who is on social services may result in that person losing their eligibility for those services and ending up worse than if they were not a beneficiary at all.? You can make a special low cost, low administration trust to benefit your beloved pets who survive you.? If you have potential beneficiaries who are improvident ('s.g., addicted to gambling, alcohol, drugs etc.) you probably do not want to bequeath assets to them directly. There are ways to do this safely and effectively. What can YOU do: - Review your will with these and other considerations in mind and determine whether the provisions that you have are satisfactory. -Decide on a strategy to deal with potential problem issues with a legal professional. - Make sure to have these issues addressed in advance of any need. What the JOHN SUDA LAW FIRM can do for you: -Analyze all of your options in a comprehensive, systematic way. (I don't just do a "will," I do a comprehensive mini-estate plan to consider all the relevant elements of your situation. Draft the Best Plan and set of documents for YOU.)
Planning for a Nursing Home StayCurrent estimates are that 35% of Americans age 65 in 2005 will receive some nursing home care in their lifetime, 18% will live in a nursing home for at least one year, and 5% for at least five years. Women, with longer life expectancy and higher rates of disability and widowhood, are more likely that men to need nursing home care, and especially likely to need lengthy stays. -Costs: an average of $10,600 per month in Monroe County New York? -Payment: who will pay for it-you, your relatives, Medicaid? -Quality: inspect a large sample of nursing homes yourself and find significant variations in quality? -Location:- being able to select your own home means living close to friends and relatives.