The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States government created to protect depositors of FDIC insured banks and savings associations against loss due to the failure of the insured bank. It covers all types of deposits: checking, savings, money market and time deposits like certificate of deposits (“CDs”), dollar-for-dollar...
Many of us fear that we may one day lose the ability to live independently and care for ourselves. When this occurs, the choices for most of us are nursing home care, assisted living or home care. In the greater New York area, depending on the level of care, nursing homes cost between $150,000.00 and...
We hear about new scams every day. Some are easy to recognize but others are quite clever. Unfortunately, seniors are prime targets. If they have diminished capacity, they are even more vulnerable. Here are some things that seniors can do to protect against the widespread damage caused by identity fraud: Telephone Scams – How...
Not infrequently, we are contacted by a family member of someone who is or has been ill or who suffers with dementia. We are asked whether it is “too late” to do estate planning. It is important to note that, under our laws, the right to control how and to whom our estates will be...
Estate planning is important for all adults. Our priorities change as we age, if we marry, if we have children or pets or aging parents, if we have loved ones with disabilities and, of course, when we retire. But an estate plan is something that each of us should have. Younger individuals and/or newly...
At Berwitz & DiTata LLP, we believe that lifetime planning is at least as important as planning for after death and that no plan is complete without a carefully drafted and thorough power of attorney. A power of attorney designates a person, called the agent, to make decisions and take responsibility for managing the principal’s...
