Comparing Legal Documents, Legal Roles, and Government Benefits
This edition of the Koldin Law Center E-Newsletter begins a series about frequently asked questions comparing legal documents, legal roles, and government benefits.
All prior newsletters are saved on our website. You can read them by clicking here.
We receive many questions from clients and readers of our newsletter asking about the differences between various legal documents, legal roles, and government benefits. In future newsletters in this series we will compare and explain the benefits and differences between the following:
Health Care Proxy compared to Living Will
Health Care Proxy compared to Power of Attorney
Power of Attorney compared to Guardianship
Living Trust compared to Will
Living Trust compared to Testamentary Trust
Irrevocable Trust compared to Revocable Trust
Deed transferring house to children compared to Deed transferring house to an Irrevocable Trust
Uniform Transfers to Minors Account (UTMA) compared to a Trust for Benefit of a Minor
Compare Different Trusts for Beneficiaries: Trust for Benefit of a Minor, Discretionary Trust, Supplemental Needs Trust, Income for Life Trust, Dynasty Trust, Pet Trust
Medicare compared to Medicaid
Medicaid exempt assets compared to Medicaid countable assets
Medicaid exempt transfers compared to Medicaid penalized transfers of assets
Medicaid treatment of Annuities compared to Medicaid treatment of Life Insurance
Medicaid treatment of primary residence compared to other property
Medicaid treatment of different forms of primary residence ownership: single owner, joint owner, life estate owner, Irrevocable Trust owner
At the Koldin Law Center, P.C., located in East Syracuse, New York, we have over 50 years of experience helping individuals plan for immediate crisis and long term care.
The Koldin Law Center, P.C. limits its practice to the specific field of Elder Law which includes estate planning and Medicaid law.
Our attorneys are available to discuss your estate planning options, including the advantages and disadvantages of Revocable Trusts and Irrevocable Trusts, along with other estate planning considerations including a Will, Power of Attorney, and Health Care Proxy.
When the Koldin Law Center, P.C. handles a Medicaid case, we not only handle the entire application process, but we also review asset protection options with our clients. We review with our clients who are already in a Nursing Home options to protect some or all of their assets beyond merely establishing Medicaid eligibility.
We do not charge a fee for the initial consultation. We welcome your children, family attorney, accountant, and/or financial planner to be present at the initial consultation.
There is something you can do.
Our Attorneys Are Available To Speak To Your Organization
Our Attorneys speak to groups throughout New York State as a public service. If you would like to arrange for one of our Attorneys to speak to your group, please contact our office.
We Appreciate Your Referrals
We have been told by many clients who are in a crisis that they wish they had known about our firm much sooner. We are proud of the many families we have helped in times of crisis.
We are also proud of the many families we helped avoid financial crisis by doing estate planning in advance.
We all share the responsibility for making our family and friends aware of the planning options available to them.
Your referral to the Koldin Law Center could make a major difference in the lives of your family and friends if they are someday faced with a long term illness.
Remember that the Koldin Law Center offers many services for clients of all ages. Our services range from basic estate planning such as a simple will to complex estate planning including asset preservation planning.
THERE IS NO FEE FOR THE INITIAL CONSULTATION
