MEDICAID 2020 UPDATE COMMENCING JANUARY 1ST, THERE ARE NEW MEDICAID AMOUNTS AFFECTING MEDICAID ELIGIBILITY. 2020 ASSET AND INCOME ALLOWANCES One Person Two Person Income Level *including $20 unearned income disregard $895 $1,304 Medicaid Resource Level $15,750 $23,100 2020 Medicaid Transfer Rates for Nursing Home Care Monthly Rates Nassau and Suffolk Counties $13,407 New York City… Read More »
Blog Posts
Burial Place Wishes
Archbishop Sheen was known for his evangelism, radio broadcasts, and television show “Life is Worth Living”, which aired nationwide in the 1950s. For the last several years, Catholic dioceses have been at odds as to where his mortal remains should be interred. His remains have been interred in a crypt in Saint Patrick’s Cathedral since… Read More »
Social Security 2020 Update
SOCIAL SECURITY 2020 UPDATE SSI FOR NYS RESIDENTS Individual $870/month Couple $1,279/month MAXIMUM TAXABLE EARNINGS Social Security (OASDI only) $137,700 QUARTER OF COVERAGE Earnings Required $1,410/quarter SOCIAL SECURITY DISABILITY THRESHOLD Substantial Gainful Activity (SGA) Non-Blind $1,260 Blind $2,110 Trial Work Period (TWP) $910/month COST-OF-LIVNG ADJUSTMENT (COLA) For December (payable in January 2020) 1.6% MAXIMUM… Read More »
How Can a Medicaid Plan be Approved in a Guardianship?
For many individuals who have capacity or who have executed a durable power of attorney with sufficient authorities granted to their agents, the ability to engage in a well-thought-out Medicaid plan is a given. Beginning with a Court Proceeding However, in situations where an individual has lost capacity and does not have a sufficient durable… Read More »
Medicare 2020 Figures
MEDICARE 2020 FIGURES MEDICARE PART A: HOSPITAL SERVICES Inpatient hospital deductible $1,408/illness Daily co-insurance $0/day 1-60 $352/day 61-90 $704/day 91-150 Skilled Nursing Facility (SNF) Daily co-insurance amount $0/day 1 – 20 $176/day 21 – 100 Part A Premiums For those not otherwise entitled to Part A Benefits who purchase Medicare coverage Medicare Covered Employment –… Read More »
Can a Holographic Will be Admitted to Probate?
When the “Queen of Soul”, Aretha Franklin, passed away in August 2018, her four sons filed paperwork with the Oakland County Probate Court in Michigan indicating that she passed away without a will. Ms. Franklin’s sons nominated her niece to serve as the fiduciary of her estate. Passing Away Without a Will When a person… Read More »
Theresa’s Fun Day Bowling Fundraiser!
Theresa’s Fun Day Bowling Fundraiser! Saturday, January 18, 2020 Pre-Registration is required Register HERE today! $25 per bowler | $15 for non-bowlers INCLUDES: Two Games of Bowling, a Slice of Pizza, Soda and Bowling Shoes. * Bake Sale and a 50/50 raffle with raffles for sale at the event! Sponsorship Opportunities Available: Event Sponsor: $2,500… Read More »
Vincent J. Russo Quoted In New Branding Book
VINCENT J. RUSSO QUOTED IN NEW BRANDING BOOK – Branding in a Digital World – How to Take an Integrated Marketing Approach to Building a Business – Garden City, NY, December 27, 2019 – Vincent J. Russo of Long Beach, NY was recently quoted in a newly released book, Branding in a Digital World –… Read More »
How Does the SECURE Act Impact RMDs?
The “Setting Every Community Up for Retirement Enhancement Act” (the SECURE Act) is part of the spending bill legislation passed by Congress, which is now awaiting the President’s signature, effective January 1, 2020. The SECURE Act significantly changes the Required Minimum Distribution (“RMD”) requirements for inherited retirement accounts by delaying the required beginning age…. Read More »
What is the Difference Between Original Medicare and Medicare Advantage?
There is a significant amount of mystery and misunderstanding about the differences between Original Medicare and Medicare Advantage that can be harmful when seniors and individuals who are eligible for Medicare consider what plan is best for them. What is Medicare? Medicare is a federal government health insurance program that gives you health care if… Read More »
How Can I Locate Life Insurance Policies and Annuity Contracts Owned by My Deceased Loved One?
If you have diligently searched through your deceased loved one’s financial records, tax returns, personal possessions, and safe deposit boxes, and you still cannot identify and locate your decease loved ones’ life insurance policies and annuity contracts, the National Association of Insurance Commissioners (NAIC) may be able to assist you. Search Request Form As a… Read More »
On Air with Marie Elena Puma
The Probate Process – What You Need To Know Marie Elena Puma joined Hilary Topper on her talk show, Hilary Topper on Air. During this show, Marie Elena discusses Frequently Asked Questions on Probate. Here are some of the questions she addresses during the show: What is Probate? When is Probate required? How to select an… Read More »
Multiple Executors – Who Gets the Commission?
In New York, an executor is entitled to commissions for the services that he or she provided on behalf of the estate. It is important to review the terms of the decedent’s Will to see if there are any provisions regarding how the executor should be compensated. If there are no provisions regarding the executor’s… Read More »
UTMA (Unified Gift to Minors Act) Custodian Accounts – Protect Your Children From Their Money
A child’s very first account is likely a custodial account established at a bank, brokerage firm or with a mutual fund company. The goal is to provide for life milestones of the minor such as college or homeownership. Although the Unified Transfer to Minors Act (“UTMA”) provides an inexpensive and expedient arrangement for accumulating wealth… Read More »
On Air with Eric Einhart
Guardianships: A Practical Explanation Eric J. Einhart joined Hilary Topper on her talk show, Hilary Topper on Air. During this show, Eric discusses Frequently Asked Questions on Guardianships. Here are some of the questions he addresses during the show: What is a guardianship? When is it needed? What does a Guardian do? What is the… Read More »