Benjamin Katz, Esq. PC

Did you know that when a Medicaid recipient dies, the government begins a process called estate recovery. It essentially involves raiding your estate to repay the government for certain Medicaid services? That means even if you intend for assets to be passed on to a family member, it’s possible that the federal government can reach in and take those assets from your family. Whether you get care at home or in a nursing facility, you will be required to spend your own money u...ntil it runs out, leaving you little to nothing to give to your family, friends and charity. Even your home will not be immune from estate recovery. Fortunately, there are ways through which you can protect your assets from Medicaid estate recovery, including gift transfers, life estates, and Medicaid Asset Protection Trusts. I’d be happy to help you explore any of these options -- you deserve to control your own assets, and I can help you make sure that you keep that control.

Anyone can write their own Will, right? I don’t need one now, since I can do it at any time, right? I don't need an attorney . . . I can do it online and it will be just as good. The answer is both Yes and No!! Writing your own Will isn’t generally the best way to go. There are certain mandatory requirements for it to be valid. If you don’t do it the right way, there’s a very good chance your final wishes won’t be carried out. Whether you write your own Will or have one draft...ed by an attorney, after your death, it must be submitted to a Court for approval. If there are any errors, it may be considered invalid. It would be like there were no Will at all. Even if there are no errors in meeting the mandatory requirements, there’s a chance it might be challenged by a creditor or family member trying to get your assets. A Will may also not be the best option for you. There are other estate planning devices that may be used instead or in addition to a Will. The best way to ensure that your long-term goals will be carried out, is to speak with a professional. The process is easy, fast, and not as expensive as you might think. If it is done improperly, the family and friends surviving you will need to spend more time and more money to deal with the problems created. Get in touch with my office soon to discuss your long term plans and how I might be able to help. http://benjaminkatzesq.com/contact-benjamin-katz-esq/

New York is bustling with current and aspiring philanthropists. Making gifts to charity is your chance to pass on your legacy and to support a cause important to you. Thankfully, there are a variety of estate planning strategies at your disposal that can be leveraged to pass on assets. Here are a few options for creating a charitable giving plan as part of your estate.

Estate Planning Newsletter April 2021 In This Issue: ** Do You Need a Trust? ** If You're Thinking About Downsizing Your Home In Retirement, Avoid These Common Mistakes... ** A Personal Note From Ben READ NOW https://mailchi.mp/6a/estate-planning-newsletter-april-2021

If you pass away without an estate plan, the state, not your loved ones, will decide where your assets go. http://benjaminkatzesq.com//yes-as-a-married-couple-you-n/

Many people have turned to their hobbies or collections in light of Covid-19. While these can become a source of comfort for you, it's important to think about how the trend of beginning or growing collections influences your future estate plans. http://benjaminkatzesq.com//have-a-collection-it-needs-an/

Very important information for pet owners! Are you Taking proper precautions? Know What the CDC says! https://www.cdc.gov/coronavir//daily-life-coping/pets.html

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