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In This Issue
Firm News
 Jessica A. Sola Quoted in Redbook Magazine
Legal News
What To Do If You Don’t Have The Original Last Will And Testament
Don’t Forget to Sign a Spousal Refusal
NY ABLE Program
Guardianship Proceedings in New York State
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Jessica A. Sola Quoted in Redbook Magazine
Jessica A. Sola, an attorney with the firm, has been quoted in Redbook Magazine for its article "30 Things You Should Never Say to Your Kids While You're Going Through a Divorce."
To read the article, click here.
What To Do If You Don’t Have The Original Last Will And Testament
Probate is the process in Surrogates Court where a Last Will and Testament is proved and accepted, an executor is appointed and all assets are distributed to the intended recipients as stated in the Will. Joint assets with a right of survivorship, life insurance policies or other assets that name a beneficiary are not probated. The probate process includes paying estate taxes, debts, taxes and administrative costs, as well as distributing assets to the intended beneficiaries.
Don't Forget to Sign a Spousal Refusal
To be eligible for Medicaid, which is a need-based program, certain income and asset requirements must be met. Oftentimes, one spouse will require care in a skilled nursing facility, while the other spouse continues to reside in the community home. More often than not, the spouse residing in the community home depends largely on joint income and assets in order to continue to pay necessary expenses. For this reason, Medicaid provides certain spousal allowances, which allow the community spouse to retain his or her income plus the institutionalized spouse's income up to a total of $3,022.50.
NY ABLE Program
The New York Achieving a Better Life Experience (NY ABLE) program is a savings plan for individuals with disabilities. The program allows those with disabilities to save money in their name without jeopardizing their benefits.
The account can be opened by an eligible individual, parent, or legal guardian for a New York State resident with a minimum of $25.00. An eligible individual, family member or friend may make contributions of up to $14,000 a year. There is a maximum account balance of up to $100,000.00 and a maximum of one account for each individual.
Guardianship Proceedings in New York State
New York State offers two types of guardianship proceedings for adults:
- Article 17-A guardianship under the Surrogate’s Court Procedure Act (SCPA)
- Article 81 guardianship under the Mental Hygiene Law (MHL)
While both of these proceedings involve a court being petitioned to appoint a guardian to care for the needs and property of another, there are some differences.
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