Financial troubles and marital issues often occur in tandem, making many New York residents wonder if it’s better to file divorce or bankruptcy first. If it looks like both are on the horizon, you can take steps that help you complete each process as smoothly as...
Automatic stay: What you should know?
If you are currently struggling with overwhelming credit card, medical or mortgage debt, you know first hand the difficulties of dealing with harassing creditor’s calls. Once you have missed a payment or have fallen behind on financial agreements, creditors often...
What will likely happen following Chapter 13 bankruptcy?
You have probably looked into what you must do to complete your Chapter 13 bankruptcy, like composing a repayment plan and making payments to your trustee as your repayment schedule dictates. It is also important to keep in mind the events that will likely take place...
Bankruptcy court, step one: analysis
Your success in bankruptcy would depend on many things. Commitment, financial management skills, effective planning and taking full advantage of all available exemptions, to name a few. However, one of your first steps will probably be analyzing your financial...
How out of control is medical debt?
All over the country, regardless of income level or even insurance coverage, healthcare costs went up. Unfortunately, it has become a common reason why many Americans have less money. Medical debt can contribute to bankruptcy fears. How common is medical debt? In the...
Are Medicaid trusts a good idea?
You and your spouse have been discussing your estate. You both have health issues. If you don’t take care of your health, you could lose your life savings. If you were able to qualify for Medicaid without spending everything you own, this could be a solution for you....
What can a trust accomplish that a will cannot?
When you work on your New York estate plan, you may find that different estate planning tools and options help you accomplish a wide range of goals. While a will is an undeniably important part of any estate plan, there are some things you may want to do that a will...
Supporting an elder relative with the estate planning process
It is not always easy to approach elderly relatives about their estate planning needs. However, it is a discussion that needs to be had. Failing to capture a person’s final wishes regarding their estate can have lasting consequences on the family. How you approach...
What are bedsores?
When you leave your loved one in an elder care facility, you would hope that means they will get the best possible care and attention. Unfortunately, that is not always the case. But sometimes, it is hard to pinpoint when, if and how your loved one might have faced...
3 kinds of fraud that could affect someone’s will
Fraud is one of a handful of reasons that you might be able to challenge a loved one's estate plan or will. Fraud involves willful misrepresentation or deceit, usually with the desire for personal benefit. Fraud involving estate documents may involve tricking the...
What seniors should know about Medicaid denial
Since its onset, Medicaid has been helping seniors who cannot afford to pay for their health care. It is one of the most important programs that the U.S. government provides. Despite the many benefits of Medicaid, denials have become a common occurrence among the...
Pre-bankruptcy Detective Work Prevents Disaster
Hidden trap averted by thorough preparation.
Elders face risks of abuse, but families may help safeguard them
Elderly residents living alone with poor health conditions face higher risks of abuse. According to a Cornell University study, greater than one out of 10 of New York state's older residents may experience mistreatment over the next 10 years. Researchers also noted...
How to pick the right power of attorney
You have a few options when choosing a power of attorney. You can choose a financial power of attorney if you want someone to handle your taxes, debts and bills near the end of your life. You can also choose a medical power of attorney if you want someone else to be...
When should you change your health care proxy?
Even if you have enjoyed good health throughout most or all of your life, you may eventually become incapable of communicating your health care wishes to doctors and other caregivers. According to the New York State Department of Health, your incapacitation may be due...
