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AssetP4

Power of Attorney Extras for Advanced Planning

By Meyer & Spencer, P.C. |

For millions of Americans, a power of attorney document is nothing more than a “worst-case scenario” item that allows loved ones to make decisions in the event of hospitalization or other emergencies. But for high net-worth individuals and those seeking to maintain eligibility for Medicaid, powers of attorney take on a whole new dimension…. Read More »

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EstPlan12

5 Things a Trust Can Do that a Simple Will Cannot

By Meyer & Spencer, P.C. |

So, you’ve finally decided it is time to update your estate plan (or create one for the first time). Maybe you’ve looked online or read up on how to get your Will done quickly, and you are starting to wonder if a Will can actually accomplish all the things you want it to. If… Read More »

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FathSon

Six Things You Need to Know About Adult Guardianships in New York

By Meyer & Spencer, P.C. |

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 »

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Medicaid

What is a Medicaid Look Back Period?

By Meyer & Spencer, P.C. |

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 »

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EstatePlan6

Three People You Should Not Name as Your Agent Under a Power of Attorney

By Meyer & Spencer, P.C. |

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 »

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ElderLaw3

Understanding End-of-Life Terminology

By Meyer & Spencer, P.C. |

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 »

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Medication3

Beware The Rising Costs of Prescriptions as You Age

By Meyer & Spencer, P.C. |

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 »

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Gift

To Give or Not to Give

By Meyer & Spencer, P.C. |

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 »

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BusLaw5

New York’s Requirements for Corporations

By Meyer & Spencer, P.C. |

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 »

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SigningDeed

Common Buyer Contingency Clauses in Real Estate Contracts

By Meyer & Spencer, P.C. |

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 »

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