Category: <span>Articles</span>

Though retirees are likely to have the greatest number of critical records – and might need access to many of them on short notice – for instance, if a Medicaid application must be prepared – they are the least likely to understand and know how to take advantage of new tools that are available to...

We recently participated in an elder care meeting at which one of the speakers quipped: “Be kind to your children, they will select your nursing home!” While it was intended as dark humor, it can also serve as a call to action. We won’t avoid the aging process. We may as well resign ourselves to...

When a loved one is admitted to a nursing home, in addition to helping your loved one accept the changes that have occasioned the move and managing the details involved in the move, you are often requested, by the nursing home, to sign documentation. Nursing home admission agreements can be complicated and confusing. What do...

An IRA or qualified plan is often a family’s largest investment. Improperly designating your beneficiaries, failing to name beneficiaries, or failing to update your designations, can have unforeseen and even disastrous results. A retirement plan that defaults to the estate is subject to debts, taxes and creditor claims, in addition to accelerated income tax. What...

Alarmingly, instances of financial abuse perpetrated against the elderly and disabled are on the rise. According to the National Council on Aging [NCOA], 1 in 5 individuals in the United States is aged 60+ and 1 in 13 of these individuals will experience some instance of abuse, neglect and/or financial exploitation. Perhaps the most alarming...

A Step Ahead is intended to provide our clients, friends and family with information that we believe is of interest to them concerning estate planning, retirement planning, Medicaid planning, guardianships, probate and estate administration and the practical considerations of caring for those who are aging, blind or disabled. However, Berwitz & DiTata LLP also represents...

As we approach the end of another year, we have been asked by clients whether 2013 should be a year in which they make gifts. Gifting is usually thought of as a tax saving strategy, but whether it should be implemented to reduce future estate tax liability or for some other purpose, gifting and the...

A Last Will and Testament, known simply as a Will, is a formal legal document governed by strict statutory requirements. It directs how a deceased person’s property and assets will be legally distributed to named individuals and entities. People often misunderstand how property is transferred after death. They believe that when they name their spouse,...

Some topics are meant to be private. This list should include “what happens with my money and property when I pass away.” People are generally unaware that a Last Will and Testament is a public record. After you die, if a Last Will and Testament is the means by which your estate is administered, your...

It is not uncommon for an elder parent to add an adult child’s name to his or her checking or savings account, or to any other asset, thereby making the child a joint owner. While this is often done for convenience purposes, it can have serious, unexpected and undesirable consequences. Since the child legally owns...