Flatbush Estate Planning, Elder Law and Probate

Flatbush Estate Planning Services

Do you know what would happen legally to you, your loved ones, your money if something unexpected happened to you?

Even if you don’t have an estate plan, the State of New York has a plan for you.

Monet Binder Law, P.C. has earned a reputation, through over 20 years in practice, for working with clients with patience, understanding and compassion, assisting them in realizing their goals to protect themselves and their loved ones, in the best way possible.

We initially conduct a Family Estate Planning Session. During our session, which lasts a couple of hours, where you’ll let me know about your family and the things that are important to you. Then, we will learn about estate planning and how it impacts you and your family, so you can make informed decisions.

The foundation of your estate plan will often include a Revocable Living Trust, which is created by transferring your property into a Trust, for your benefit, during your lifetime. One of the benefits of a Revocable Living Trust is, when done correctly and maintained over time, your estate plan should help your family to avoid the expense and time, of the process of probate, and minimize or eliminate estate taxes.

For people with additional needs, we provide advanced estate planning services, such as Medicaid Asset Protection Trusts and Irrevocable Life Insurance Trusts, to name but a few.

Unfortunately, most estate plans don’t work because much of what passes for estate planning is not much more than word processing. You are asked a few questions and then the attorney (or worse, online document preparation service) decides which “plan” is right for you and fits you into their template. This is not estate planning; it is little more than a “search and replace” of your family’s name and then a hit of the “print” button which spits out form documents.

At Monet Binder Law, P.C., you and your family will never be treated like just another number. We will educate you, take the time to get to know you, your family, your concerns, your goals and your issues and will gladly and patiently answer all your questions to produce an estate plan that is exactly right for you.

Flatbush Elder Law

It may be that time in your life where you are planning to retire or you may be thinking about long-term care options and planning for your parents, who are reaching the age where long-term care may be an option.  If so, now is the time to get a good understanding of Medicaid and how this public benefit might protect your assets for future generations.  Monet Binder Law, P.C., is here to help.

Medicaid, unlike Medicare, is a means tested program, which provides payment for medical coverage for people with low or no incomes and with few assets. Contrary to popular belief, Medicare does not pay for long-term care.  However, Medicaid may pay for all of someone’s long-term care in a nursing home or for home health services, if medical and financial eligibility requirements have been met.

Monet Binder Law, P.C. Can Help You Qualify for Medicaid Benefits to Cover These Ongoing Expenses. We can help you do advanced Medicaid Planning by strategically transferring money and property into a legal Trust, where the Trust becomes the legal owner of the assets and the senior can still benefit from the Trust. But (there is always a but), these transfers must be done at least five years before applying for Medicaid coverage, because Medicaid has a five year “look back period”.  The five-year “look back period” means any transactions where assets were given away or sold, for less than their value, within five years of trying to get Medicaid nursing home coverage, could result in a delay in eligibility for benefits.

It is important to start Medicaid planning when you or your parents have assets to protect, but are still too young to need nursing home care. Creating a plan when you are younger, or your parents are more than five years away from needing nursing home care, gives you time to make transfers early, so you can pass the five year “look back period”.

Flatbush Probate and Estate Administration

There is probably no more difficult time in someone’s life, than the grief of the loss of loved one.  Unfortunately, during this time of grief, close relatives must deal with the many legal issues that now arise. If your loved one passed with a Will, but did not do planning to avoid probate, or if they have not done any planning at all, probate will be the process you must use to distribute the assets in the estate.

Probate is a court supervised procedure that helps to ensure the legal transfer of assets, from the deceased, to the heirs or beneficiaries. The court validates an existing Will and legally appoints the executor named under the Will. An executor is responsible for carrying out the affairs of the estate, including collecting assets, paying debts, such as taxes, and distributing estate assets in accordance with the Will. Where there is no Will in place, the court decides who will serve in the role of Executor (also known as the Administrator) and how the assets will be distributed.

If you are facing the difficult prospect of probating an estate, Monet Binder Law, P.C. will guide you through every step of the process. You are not alone. We are here to help.

Monet Binder Law, P.C. can help you avoid probate by advising you on the way, in New York, to plan your estate with legal documentation and how to name your assets and beneficiary designations.

You could use the forms found online and at convenience stores, to create a Trust, which would not be written to address your unique situation, may not meet New York State legal requirements, most likely will not keep your family out of conflict and court, and may not work for your family when they need it. This means that those forms will not give you and your family maximum benefit.

Make an appointment for a Free Confidential Consultation, using the form on this page and let’s discuss what your needs are and the needs of your family.  If it is right for you, we can work together to protect you and your family’s future.