As you grow older, you, your spouse or your parents will likely have to confront the prospect of long-term care. As you do so, you might discover that the financial implications are overwhelming. For example, the New York State Partnership for Long-Term Care estimates that the annual rate for nursing home residents in New York City is nearly $170,000, far…
Although married couples in New York get divorced for a wide range of reasons, some causes are more common. People who are considering ending their marriages can benefit from learning about various reasons for divorce. Furthermore, it is important to review potential grounds for divorce available in New York State. Most frequent causes of divorce Poor communication and conflict resolution…
Since there are many different types of debts, they are all handled uniquely during a divorce. For example, you can have credit cards, mortgages, car loans and medical debts. Here is more about how the court will handle your debts during a divorce. Debt after separation and before divorce You can continue to incur debts after your separation but before…
Getting older can be expensive. Aging can bring new health problems, and many retired people live on limited incomes, unable to afford the services they require. If this is your situation, Medicaid can help you receive the health care you need. Who qualifies for Medicaid? The purpose of Medicaid is to provide health care coverage to individuals with limited income…
In today’s custody cases, the judge typically focuses on the best interest of the children for both legal and physical custody. In most cases, family courts prefer that both parents remain involved in their children’s lives, resulting in shared custody. However, what happens when one parent wants to move out of the state? It does not matter whether you share…
As you approach your golden years, you know the importance of estate planning and ensuring your retirement funds can keep up. In 2020, congress passed the SECURE 2.0 Act, which President Biden signed into law in December. It features a range of changes regarding retirement savings. Three key changes include: 1. Age raised Designed to boost savings, the initial act…
The goal of a will is to ensure that your estate distributes to your heirs and loved ones according to your wishes. In addition to your personal information and a statement about your testamentary capacity, a will should include a few essential elements. Name an executor An executor is a person who will take responsibility for your estate after you…
Aging comes with many challenges. As your body and health fluctuate, you may become more aware of how you want your loved ones to support your financial goals when a time comes that you cannot. Creating a power of attorney can give you and your loved ones peace of mind. Although you may not want to consider a situation where…
Since 1989, Americans have had to deal with credit scores. Your score, which a few credit bureaus compile, tells lenders whether you are likely to pay back the money you borrow. Consequently, virtually all financial institutions consider your credit score when deciding whether to extend credit. While a credit score provides a snapshot of your creditworthiness, a credit report offers…
Joint custody allows divorced parents to share the responsibilities of raising children. If you are a parent going through a divorce, you might wonder if joint custody is an appropriate choice for your family. To make an informed decision, it is important to review child custody works in the state of New York. Joint physical custody In New York, the…
More than 77% of American adults over the age of 50 want to remain in their homes rather than move to assisted living or long-term care facilities, according to a recent AARP survey. However, the cost of rent makes it difficult for many aging New Yorkers to remain in their homes. The city council is considering new legislation that would…
If you recently received a denial on your application for New York Medicaid benefits, you probably have a lot of questions. A Medicaid denial is a nerve-wracking experience, especially when you are not sure why you received it in the first place. Here are some potential reasons why Medicaid denied you and what you can do about it. How common…
