914-681-7117

 

Estate Planning

Home Transfers and Retained Life Estate
Considering transferring your home to your children? It is something to think about. It may be advisable. If you have no intention of selling the property during your lifetime, then a transfer subject to a retained life estate can protect the residence in the event long term care is required.

Long Term Care Insurance
Long term care insurance is a key ingredientin Medicaid planning. Medicaid is a means tested program with financial limits on how much an individual may own and still be eligible. It also establishes periods of ineligibility for an individual who gives his or her assets away. Such periods lasts for years. With Long term care insurance in place, an individual can retain use and enjoy all of his or her assets until such time as illness requires long term nursing home care. Then the individual can transfer all of the assets and enter the nursing home. During the period of Medicaid ineligibility the long term care insurance policy will then pay the nursing home bills. If properly planned when the insurance benefits run out the individual will be eligible for Medicaid.

Estate Litigation
Try as we may, we can not plan for everything. When estate plans are challenged in probate, you need the extensive probate litigation experience of Palumbo & Associates.

At Palumbo & Associates, we offer free initial consultations to give our clients an opportunity to meet us and let us assess your needs. For your convenience, we will meet with you during evening hours and on weekends by appointment.

Don't leave your estate to chance. Let your will be done, for the sake of your loved ones and for your own peace of mind. Contact us today, and together, we will plan for tomorrow.

Estate Planning and Elder Law Issues
Power of Attorney
Living Will/Health Care Proxy
Guardianship
Wills & Trusts

Palumbo & Associates, P.C. represents New York clients in the Bronx, Westchester County, and throughout New York, including the areas of Manhattan, Queens, Staten Island, Brooklyn, White Plains, Eastchester, New Rochelle, Mount Vernon, Yonkers, Greenberg, Scarsdale, Harrison, Yorktown, Peekskill, Port Chester, Bedford, Pelham, Mamaroneck, Rye, Mount Kisco, Tarrytown, and Ossining.

  • Palumbo & Associates, P.C.
  • 188 E. Post Road, Ste. 300
  • White Plains, NY 10601
  • Phone: 914-681-7117
  • or
  • 2956 Radcliff Avenue
  • Bronx, NY 10469

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