Elder Law News
From Enea, Scanlan & Sirignano, LLP
October 2024
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New York's Elder Law Team
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When Should You Engage in Elder Law Planning?
By: Anthony J. Enea, Esq.
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The decision to engage in elder law planning is obviously an extremely important one. As the Medicaid Asset Protection Trust (MAPT) is often the centerpiece of an elder law plan, it is crucial to properly assess whether (and when) said trust should be created and funded.
Generally, the most important factors used to determine if one is a candidate for asset protection planning and a MAPT are as follows:
1. The age and health of the potential applicant and their spouse.
If one is in their 40s, 50s, or even early 60s, the need to create and fund a MAPT is generally low, unless they have been diagnosed with a debilitating illness such as Alzheimer’s, Parkinson’s, ALS, Multiple Sclerosis, or any other neuro-impacting disease that necessitates long-term care either at home or in a nursing home.
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The Best Gift You Can Give
By: Lauren C. Enea, Esq.
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As individuals approach the later stages of their lives, effective estate planning becomes crucial. One mode of estate planning is generational gifting, which allows individuals to transfer wealth to their heirs during their lifetime rather than waiting until their passing. This approach not only helps reduce potential estate tax liabilities, especially in New York, but also often strengthens family bonds and provides immediate financial support to loved ones.
Gifting can be done in a number of ways: outright gifts, gifts in trusts, or even paying for expenses (such as medical and/or educational) expenses for a loved one directly, which is often considered when gifting assets to college-age grandchildren.
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There’s still time – CAREERS Support Solutions' 2024 Anniversary Celebration is coming up on Thursday, October 24 at Sonesta in White Plains (5-8pm). This remarkable nonprofit helps individuals with disabilities find meaningful employment and offers the essential on-the-job training and ongoing support needed for long-term success. Partner Lauren C. Enea, Esq. is President of CAREERS Support Solutions' Board of Directors and Enea, Scanlan & Sirignano, LLP is a proud sponsor of the event. For more information or to purchase tickets, call (914) 741-8500.
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Westchester County Bar Foundation's 13th Annual Benefit & Silent Auction
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Enea, Scanlan & Sirignano, LLP Managing Partner Anthony J. Enea, Esq. will be honored at the Westchester County Bar Foundation's 13th Annual Benefit and Silent Auction on Tuesday, October 29, 2024 at Fenway Golf Club in Scarsdale. The evening will feature a cocktail reception, hors d'oeuvres, buffet dinner, dessert, and a silent auction. Proceeds from the Benefit will support the Foundation’s Fellowship Program.
The Westchester County Bar Foundation is the charitable arm of the Westchester County Bar Association and is dedicated to improving the administration of justice and fostering a better public understanding of the law. Sponsorships are available and tickets may be purchased online at www.tinyurl.com/WCBFBenefit.
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Upcoming Speaking Engagements
Featuring the Attorneys of Enea, Scanlan & Sirignano, LLP
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Wednesday, October 30, 2024 from 9:00-10:00am
Sara E. Meyers, Esq. will be speaking on
“Critical Issues Facing Senior Clients”
Hosted by: NYSSCPA Rockland Chapter
Webinar
For more information, visit: https://tinyurl.com/3746s38w
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Tuesday, November 5, 2024 from 11:30am-12:30pm
Anthony J. Enea, Esq. will be speaking on
“The Nuts & Bolts of Estate Tax Planning with Trusts”
Hosted by: NYSSCPA’s Westchester/Rockland Tax Conference
Webinar
For more information, please contact our office at (914) 948-1500.
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Wednesday, November 6, 2024 from 3:00-4:00pm
Lauren C. Enea, Esq. will be speaking on
“Accountable Aging: Preparing for the Elder Years”
Hosted by: Mamaroneck Public Library
Webinar
For more information, visit: https://tinyurl.com/MamaroneckLibrary
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Wednesday, November 6, 2024 from 2:00-3:00pm
Anthony J. Enea, Esq. will be speaking on
“Critical Issues Facing Senior Clients in New York”
Hosted by: Lawline
Webinar
To register, visit: https://tinyurl.com/LawlineNov
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Tuesday, November 12, 2024 from 6:00-7:00pm
Lauren C. Enea, Esq. will be speaking on
“Protecting Yourself and Your Loved Ones from Financial Elder Abuse and Senior Scams”
Hosted by: Hendrick Hudson Free Library
185 Kings Ferry Rd #1236, Montrose, NY 10548
For more information, visit: https://tinyurl.com/HendrickHudson
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Wednesday, November 13, 2024 from 7:00-8:30pm
Sara E. Meyers, Esq. will be speaking on
“Planning Considerations for New York's New Medicaid Eligibility Requirements for Long-Term Care”
Hosted by: Chappaqua Continuing Education
Horace Greeley High School, 70 Roaring Brook Rd, Chappaqua, NY 10514
To register, visit: https://bit.ly/43cEkpK
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Thursday, November 14, 2024 from 6:00-7:00pm
Sara E. Meyers, Esq. will be speaking on
“Aging in Place: A Guide to Growing Older at Home”
Hosted by: Hudson River Community Education
Dobbs Ferry Middle School, 505 Broadway, Dobbs Ferry, NY 10522
To register, visit: https://hrcewestchester.org
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The Talking Seniors podcast is currently on break.
Take a listen to some of the episodes from last season.
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Episode 13: What to Discuss with Family When an Alzheimer's Diagnosis Occurs
Anthony J. Enea, Esq. interviews Joan Nimmo of The Alzheimer's Association about the important conversations that are necessary when a diagnosis of Alzheimer's occurs within the family.
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