Author Archives: Jay Butchko
Six Things You Need to Know About Adult Guardianships in New York
If you have a loved one who has lost the ability to make healthcare and financial decisions due to a cognitive or physical limitation, you need to understand how a guardianship works and whether it’s right for your situation. Often, people end up needing guardianships because they failed to plan appropriately, while other times… Read More »
What is a Medicaid Look Back Period?
When you apply for institutional Medicaid benefits in New York, Medicaid will look at your income and assets for the last 60 months (5 years). You might have heard that it’s just 3 years, but that changed years ago. It is currently 5 years. Medicaid looks to any uncompensated transfers during that period of… Read More »
Three People You Should Not Name as Your Agent Under a Power of Attorney
If you are approaching your golden years and thinking about establishing an estate plan, you’ve probably at least given some thought to having a durable power of attorney. If you have done your homework then you know a power of attorney is a legal instrument designed to give someone else the power to make… Read More »
Understanding End-of-Life Terminology
For the family of a person on hospice or nearing the end of life, there are many emotions to deal with. Grief, sadness, depression, anxiety, and maybe even a bit of guilt can plague loved ones. Perhaps you are dealing with concerns about your loved one’s estate and how you will manage it when… Read More »
Beware The Rising Costs of Prescriptions as You Age
We are always told to save for retirement, because you just never know how long you might live. We are told to save enough to not only live well in retirement, but also enough to offset for inflation. As the price of coffee, gas, and groceries continue to escalate, we are told to assume… Read More »
To Give or Not to Give
It’s never a good idea to give an unwanted gift, even in a will or a trust. Giving someone something that they don’t want is insensitive at best, but giving something that could actually do harm is downright careless. Yet, every year, plenty of people make the unwise choice to give large gifts to… Read More »
New York’s Requirements for Corporations
Corporations have many obligations to fulfill as part of the requirements for keeping an active entity. Corporations are heavily regulated. As a result, heavy regulation is met with heavy enforcement. Like most corporations in the U.S., New York State corporations are required to produce certain documents and perform certain actions on a periodical basis…. Read More »
Common Buyer Contingency Clauses in Real Estate Contracts
As a buyer, placing a contingency in the real estate contract can be rather advantageous. Some real estate contracts pass without contingencies, but usually in favor of the seller’s wants. This is usually when a piece of property is being sold “as-is.” However, outside of “as-is” contracts, each party will try to assert their… Read More »
Breach of Contract Issues in Real Estate Contracts
Real Estate contracts are traditional contracts that set out the details as well as the rights and responsibilities of all parties involved. The contract in essence is a promise between the buyer and the seller. The buyer makes a legal promise to purchase the home at the agreed upon price and the seller promises… Read More »
Possible Disputes in a Guardianship
Guardianship and Disputes A guardianship is a legal relationship created by court of law between an assigned guardian and a person who becomes a “ward.” It is a powerful resource and can be quite effective in the area of elder care and asset planning. The guardianship usually covers an incapacitated adult or sometimes a… Read More »