Long-term care planning is a critical aspect of estate and financial planning, especially for individuals who may require Medicaid in the future. A Medicaid Asset Protection Trust (MAPT) is one of the most effective tools for protecting assets while ensuring Medicaid eligibility. If an individual owns substantial assets, setting up a MAPT early can prevent […]
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Washington Abandons Beneficial Ownership Reporting for U.S. Nationals and Companies
In a dramatic policy reversal, the U.S. Treasury has permanently suspended the Corporate Transparency Act (CTA) beneficial ownership reporting requirements for all U.S. citizens and domestic businesses. This decision significantly shifts corporate compliance regulations, impacting businesses nationwide. The CTA, enacted to enhance financial transparency and combat illicit finance, required most U.S. entities to report their […]
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New York State Changes the Laws for Transfer on Death Deeds for Real Property
New York State laws about transferring property have changed. Previously, if you wanted to bequeath property to a beneficiary upon your death, you could make the beneficiary a co-owner, make a bequest of the property to the beneficiary in your will, or create a trust, then transfer the title of ownership to the trust and […]
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Elder Lawyer Stephen J. Silverberg Speaks on Income-Only Trusts for Medicaid Eligibility
On Wednesday, December 4, Elder Law attorney Stephen J. Silverberg will speak before an audience of Elder Law and estate planning attorneys for a Continuing Legal Education program on the topic of drafting income-only trusts for Medicaid eligibility. Mr. Silverberg was invited to speak based on his extensive knowledge of Medicaid planning, the use of […]
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Social Security Goes Digital For Signatures on More than 30 Forms
In an effort to make life easier for Social Security beneficiaries, the Social Security Administration (SSA) recently announced a change to how signatures are gathered. On 30 forms, electronic i signatures will be accepted and no signature will be required at all for 13 forms. The intent is to make applications simpler and remove one […]
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Medicare Guide – What You Need to Know for This Year
Every September, the CMS mails out a hard copy handbook, Medicare & You. Around the same time, the annual avalanche of ads about Medicare Advantage plans arrives in your mailbox, on television, and on your social media feeds. These sales pitches escalate during the Open Enrollment season (October 15 – December 7). Every year, we prepare […]
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Why You Must Read This Year’s Annual Notice of Change for Medicare Plans
Every September, Medicare recipients receive an Annual Notice of Change for their Medicare Plans. That’s because every January, coverage and costs change. Whether you are enrolled in a Medicare Part D prescription drug plan or a Medicare Advantage plan, this letter contains the details on premiums, deductibles, and co-pays from 2024 and what’s coming in […]
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Stephen J. Silverberg, Esq., and Scott B. Silverberg Named To 2025 Edition of Best Lawyers® In Elder Law
For the eleventh consecutive year, Stephen J. Silverberg, based on extensive peer review, is listed in the 2025 Edition of The Best Lawyers in America® in the practice area of Elder Law. Scott B. Silverberg is listed in the 2025 edition of The Best Lawyers in America in the practice areas of Elder Law and Trusts […]
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New Yorkers Returning to Florida in the Fall – Be Mindful of Your Residency Status
Many former New York residents are enjoying being north for the summer, escaping the heat and humidity of Florida or other warm climates to visit with family and friends. If you’re a snowbird, you need to be mindful of your activities and how long you stay visit, lest you be deemed a resident of New […]
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What is the Purpose of a Promissory Note in Medicaid Planning?
Medicaid planning is often a complex process aimed at preserving a person’s assets while qualifying for Medicaid benefits. Finding a way to pay for long-term care costs without depleting all your hard-earned assets is a key part of Medicaid planning. One strategy for protecting assets and qualifying for Medicaid that has gained attention in recent […]
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