Estate administration is the process of managing and distributing a person’s property (the “estate”) after death. If the person had a will, the will goes through probate, which is the process by which the deceased person’s property is passed to his or her heirs and legatees (people named in the will). The probate process is supervised by the surrogate’s court (NYS) or probate court (CT). If the person did not have a will, the process starts with an administration proceeding rather than a probate. The priority of who acts as administrator is set out in state statutes. The emotional trauma…

On July 4, 2025, President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law, which significantly impacts Medicaid and long-term care planning. Medicaid Reductions and Long-Term Care Plans One of the more controversial parts of the OBBBA is the estimated $1 trillion in Medicaid cuts over the next decade. Much of the debate has focused on work requirements for Medicaid — provisions that could result in more than 5 million adults losing coverage. But most Medicaid adults under age 65 are already working. Less attention has been paid to how Medicaid cuts could impact the long-term care…

The Passage of the OBBBA On July 4, 2025, President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law, which significantly impacts estate and financial planning. The Estate Tax Exemption Gets a Boost — But Planning Is Still Essential For years, estate planners and high-net-worth families were racing the clock. The 2017 Tax Cuts and Jobs Act (TCJA), passed during Trump’s first administration, doubled the federal estate and gift tax exemption, along with the generation-skipping transfer (GST) tax exemption, but only temporarily. Without action, the exemptions were set to drop back to pre-2017 levels (adjusted for inflation)…

Once a person becomes a guardian, they should be aware of their responsibilities. Guardians must promote the ward’s autonomy to the fullest possible extent and must make decisions in the ward’s best interests. Legal Guardianship for Adults under Article 81 of the Mental Hygiene Law Guardianships are tailored to the needs of the ward. An adult may require assistance with all aspects of personal and financial needs, or may only need help in certain areas. If a ward only needs assistance in certain areas, a court will create a limited guardianship and allow the ward to retain full autonomy as…

No one wants to see a loved one become unable to make decisions for him or herself. If this happens, however, a court may appoint a substitute decision maker, called a “guardian” in New York or a “conservator” in Connecticut, to make decisions regarding a person’s personal care, finances, or both. A guardian or conservator is only appointed as a last resort if other, less restrictive alternatives, such as a power of attorney, are not in place or are not working. Anyone interested in the well-being of an individual who may be incapacitated — called the “proposed ward” or “alleged…

When an individual cannot manage his or her finances, courts can appoint a personal needs guardian, financial guardian, or both. A financial guardianship is for those who need help handling money. Depending on the jurisdiction, financial guardianship may also be called guardianship of the property or conservatorship of the estate. What Financial Guardianship Entails Financial guardianship gives the guardian the authority to oversee the protected person’s finances and access to money to pay bills. In many cases, the terms of the arrangement require the guardian to seek court approval before making certain financial actions on behalf of the ward, such…

In certain situations, beneficiaries of programs like Supplemental Security Income (SSI) and Medicaid may be at risk of losing their benefits. For example, if they come into an inheritance or receive money in their own name from an accident settlement, their income and assets may exceed the thresholds set by these government programs. SSI and/or Medicaid recipients in this situation may utilize a pooled income and asset trust to avoid becoming ineligible for these public benefits. What Is SSI? What Is Medicaid? Supplemental Security Income (SSI) is a federal program that provides funds to people living with disabilities and limited…

Pooled income trusts are a viable way to gain and maintain Medicaid eligibility for many seniors, people with disabilities, and others. But there are some misconceptions surrounding these trusts, which are valuable tools for those in need of long-term care when their income exceeds Medicaid’s limits. Here are some common misconceptions and corresponding facts about the pooled trust to help you gain a better understanding of what it can do for you or a loved one. #1 Misconception: Pooled trusts are only for rich people. The pooled trust is not solely for use by wealthy people. Quite to the contrary,…

Navigating the challenges of aging can be stressful for older adults and their caregivers. Geriatric care managers support and direct older adults and their family members as they plan and arrange care. These care managers are also sometimes known as aging life care managers. What Is a Geriatric Care Manager? Geriatric care managers can organize and manage care when family members are overwhelmed or live too far away to assist their loved ones. When family members live apart from their older loved ones, the geriatric care manager can check in on them and keep track of their ongoing needs. Aging…

A trust is a legal document establishing a legal relationship in which one person (trustee) holds title to property, subject to an obligation to keep or use the property for the benefit of another (beneficiary). Trusts can be revocable or irrevocable. If you (the grantor) choose to create a revocable trust, you can modify it at any point during your lifetime. With irrevocable trusts, however, you generally cannot make any changes once you establish this type of trust. Many individuals are therefore concerned when they hear the term “irrevocable” trust, as they equate the permanency of the term “irrevocable” with…