Author: Dan Rose

What To Consider When Hiring A Lawyer After A Car Accident

What To Consider When Hiring A Lawyer After A Car Accident

Dan Rose

A personal injury lawyer (or accident attorney) can be hired to represent you after a car accident, but you should be aware that there are many things that you should know before hiring an attorney. For example, you need to know if the attorney is experienced in your area of law and how much they charge for their services. 

What Does A Personal Injury Lawyer Do?

The term “personal injury” refers to a legal claim where a person or business is found liable for harm done to another person. This harm may consist of physical injury, emotional trauma, or even damage to property.

A personal injury lawyer is a lawyer who specializes in helping people who have been injured from another person’s negligence. They help the victims of car accidents, trucking accidents motorcycle accidents and many other forms of accidents.

Choosing An Attorney To Represent You

In order to choose an attorney, do your research and make sure you pick one that is a good match. When interviewing attorneys, make sure you ask them the tough questions about their experience, office hours, rates and cases they’ve been working on.

In order to be able to make a good decision for your attorney, research thoroughly and find an injury lawyer with great reviews. You should also do thorough research on the rates and hours of the attorney that you are going to hire because this will be very important when setting up your case. Be aware of how much work they have been doing lately because it will help with the case preparation as well as how much work they are willing to put into it for you personally. At our Queens personal injury law firm, we dedicate time and attention to each and every client.

What to Expect for Your First Meeting with the Lawyer

  • You should be able to talk about your concerns and your goals without feeling like you’re being judged.
  • Your lawyer will ask you questions and may want to do some research before they take on your case.
  • Many accident attorneys offer free initial consultations so that you can get a feel for what it would be like working with them.
  • You and the lawyer will discuss any relevant information about your case, such as what happened, who was involved, and how it has impacted you personally.
  • You may go over any deadlines or other important dates that need to be met in order to achieve the best possible result.

Your Lawyer’s Fee and How They Will Be Paid

Some attorneys charge by the hour, while others charge by project completion or by one flat fee. But most personal injury attorneys operate on a  contingency-fee-basis, which means that they only get paid if they win their case for you. The big benefit of using a contingency fee lawyer is that their incentives are properly aligned with yours since they only get paid if you get paid.

Personal Injury Accident Firm Of Queens 141-24 Jewel Ave Fl 2, Queens, NY 11367 (718) 682-3480

Legal Guardianship Options in New York

Dan Rose

Guardianship law in New York is based on two types of guardianships, limited and plenary. Limited guardianship gives a guardian certain rights and responsibilities for the person who cannot take care of themselves. The guardian has to be appointed by a court and can be given control over property and finances. The court determines the limitations of guardianship so that it does not interfere with the person’s autonomy or rights.

Plenary guardianship means that the guardian’s authority is unlimited on all matters relating to you–including your health care, finances, where you go, who you see. etc

The court will appoint at least one person as your guardian if there are no living parents or other suitable relatives available to act as your guardian or if their condition makes them incapable of acting as your guardian.

When seeking to obtain guardianship over an individual incapable of making their own decisions, you might want to look into Article 81 or 17-A of the Mental Hygiene Law in New York. Guardianship is often sought when a person with dementia or Alzheimer’s becomes incapacitated and incapable of living independently. If this individual was intellectually or developmentally disabled, they would be more likely to need an Article 17-A guardianship. Article 17-A guardianships are most often used when developmentally disabled people reach the age of 18 and their parents or guardian need to apply for power of attorney so you can make decisions on their behalf. Guardianships in Article 17-A are brought in Surrogates Court, while guardianship proceedings in Article 81 are held at Supreme Court.

For more information about Guardianship law in New York State please contact Law Offices Of Roman Aminov.

Law Offices Of Roman Aminov, 147-17 Union Turnpike, Flushing, NY 11367 – (347) 766-2685

Supplemental Needs Trust & Supplemental Security Income Regulations

Dan Rose

People who are qualified for Supplemental Security Income, otherwise called SSI, are dependent upon pay and resources limits. Beneficiaries cannot claim more than $2,000 in resources (or $3,000 in case they are married). We often get calls from SSI beneficiaries asking us how they can ensure their SSI benefits when obtaining a sizable sum of wealth, ordinarily from a legacy or an individual physical issue settlement. Assuming the beneficiary is younger than 65, a first-party supplemental necessities trust (“SNT”) might be a great choice.

The recipient can work with a unique necessities lawyer to set up the trust and name somebody, called the trustee, to hold the cash on their half. 

A trustee may even make payments for household items such as a personal care attendant or a wheelchair. By using an FPSNT, an individual no longer has to rely on family and friends and on the government programs and services that provide for their basic needs.

The creation of an FPSNT expressly reserves the right of the trustor to receive the trust’s income and principal money on his or her own behalf for his or her benefit; no other person can ever inherit from such a trust, subject to some limited exceptions.

You should have a lot of questions about the money you are about to receive after an inheritance or personal injury settlement. It is always smart to speak with a lawyer before you accept it. Call our office for a free consultation at 347-766-2686. Estate attorneys in Queens, New York will help you every step of the way.

Law Offices Of Roman Aminov 147-17 Union Turnpike, Flushing, NY 11367 (347) 766-2685

Providing Credit Shelter Through New York State Trusts

Dan Rose

To fully take advantage of their combined estate tax exclusions, married couples use credit shelter trusts. This type of planner may be especially useful to couples living in states with state estate taxes in addition to federal estate taxes.

Credit shelter trusts will only be accessible to ultra-rich estates in 2021 as the federal estate tax limit is set at $11.7 million. Federal estate taxes are not imposed on the first $11.7 million of an estate. Additionally, a married couple could use both spouses’ exemption amounts to avoid paying federal estate taxes if their combined estate exceeded $23.4 million. There is the concept of portability within the federal estate and gift tax regulations in New York City. In other words, if one spouse does not use the entire exemption amount, the remaining amount is portable to the surviving spouse at their ultimate death. A surviving spouse, however, must formally elect to utilize their spouse’s remaining estate tax exemption upon the death of their first spouse.

If the first spouse dies leaving their entire estate to the second spouse, there will be no estate tax due. The federal estate tax exemption amount for married couples is $5.95 million. Furthermore, the couple may be liable for estate taxes if they live in a state with a separate estate or inheritance tax. The estate tax-exempt amount of one spouse cannot be transferred to the other in New York state. In the event of an estate not planned properly, the couple’s estate, as well as the second spouse’s estate, may be liable for estate tax. The value of a married couple’s assets is generally split up by them, and an amount equal to the current estate tax exemption amount for the surviving spouse is positioned in a credit shelter trust. The assets can then be passed to the survivor without becoming part of their spouse’s estate and passing directly to them.

We are ready to answer any questions that you may have and would be happy to set up a free case evaluation with one of our attorneys.

Roman Aminov Esq. Estate, Probate & Elder Law of Queens – 147-17 Union Tpke, Queens, NY 11367, (347)766 2685.

Inflation-adjusted basis and capital gains tax

Dan Rose

Inflation-adjusted basis and capital gains tax allow the taxpayer to take the current value of an asset as its basis for capital gains tax purposes. This is often referred to as “step-up in basis” or “step-up in cost”. The donor of the asset gets a step-up too, but they don’t pay any capital gains tax on their donation.

The step-up in basis is a provision in the United States tax law that permits an individual to increase the basis of any property, including stocks and bonds, without incurring capital gains tax. This change was implemented by President Trump to make sure that the rich don’t take advantage of this loophole. Step-ups can occur either when an individual dies or sells the property for more than its adjusted basis. A taxable event occurs when an individual sells their assets for less than their adjusted basis so they automatically incur taxes on any increased value above what they originally paid. The reason for this is because the person is not allowed to purchase any other property with cash other than his/her house, cars, and investments without paying taxes on it.

It would also have a big impact on estates with a lot of illiquid assets like real estate. Even if the asset is not sold by the beneficiary, there is a proposal that would apply a capital gains tax. This could force heirs to sell their inherited family property, liquidate inherited requirement accounts, and even have a significant impact on corporate assets.

If you are looking for an experienced law firm that will provide you with the right advice, contact Roman Aminov Law Office today.

Law Offices Of Roman Aminov, 1600 Ave. M, Brooklyn, NY 11230, (347)76 62682

orthodontist in flushing queens

Can You Correct An Overbite With Braces?

Dan Rose

What is an Overbite? 

An overbite is when the top jaw and teeth overlap the lower jaw and teeth. The most common cause of an overbite is when the child has a small lower jaw or is born with a cleft palate. A child will most likely have an overbite if they have inherited smaller jawbones, creating less space for their teeth to grow into. There are many different types of treatment for this issue, which will depend on the severity and age of the sufferer, and your local orthodontic clinic will be able to provide treatment.

What Causes an Overbite?

Overbites occur in individuals born with a cleft palate or with small jaws. A small jaw bone may not be able to support or hold the teeth in place, which causes the teeth to move out of place. Smaller jaws are more commonly seen in children with Down syndrome, Bohn disease, Pierre Robin syndrome, craniofacial syndromes, and skeletal dysplasia syndromes. Overbites are also seen more commonly in children with smaller jaws.

Can you correct an overbite with braces?

Yes. Your Queens Orthodontist can treat for overbites through braces and teeth alignment. A child could also receive a surgical correction to bring the lower jaw forward and create more space in the mouth. Treatment for an overbite will vary depending on the severity of the condition.

With Mild Overbites:

– Smaller appliances could be used to align the teeth such as rubber bands, headgear, and smaller, removable plastic trays.

With Severe Overbites:

– The child may need to wear permanent appliances like stainless steel or gold brackets. These supports are placed on both sides of the teeth and can cause pain for some patients. 

How Long Does it Take to Fix an Overbite with Braces?

Each patient will progress at their own pace depending on the severity of their overbite. The typical timeframe to correct an overbite is between 6 months to 24 months.

What problems are caused by overbites?

Parents most often recognize their child with an overbite has a problem that an Orthodontist in Flushing, NY will need to treat. Children with an overbite will often come in earlier for treatment than other problems because they have health or psychological problems related to their teeth.  

Other children may struggle with bad eating habits because of the overbite.

Can you fix overbite without braces?

Surgery is one treatment method for an overbite for the most severe cases when braces or other orthodontic methods have failed to correct the problem.

 My Smiles Orthodontics of Queens 75-05 Parsons Boulevard Flushing, NY 11366 (718) 380-1230 https://mysmilesbraces.com/

financial assets

What Qualifies as a Probate Asset in NY

Dan Rose

Probate is a legal process after someone passes away to collect the property and assets of the individual. The first debt is paid and then assets are distributed to the beneficiary according to the will. But figuring out which assets are included in a NY probate estate is sometimes not so easy. For medium to large estates, a local probate attorney in NY is often needed to streamline the probate process to only include assets that actually can go through probate. For smaller estates, under a certain threshold ($50,000) probate can also be skipped depending on how the assets are calculated.

What assets are included in probate estate in NY

Many assets which are singularly owned by the individual can go through probate but if an asset is jointly owned or held in a trust that it is not considered a probate asset. Some of the most common assets are bank accounts, stocks, bonds, cars and even real estate.

Assets not included probate estate in NY

But some of the assets not included in probate include property owned in a living trust, life insurance, 401ks and transfer on death accounts. These assets not included in a probate estate in NY are typically passed directly to the beneficiary or the joint owner upon receiving the death certificate. These assets are also not included in the probate petition and are not used to calculate the filing fee.

If all the assets are not included in the probate estate due to the fact they are jointly owned or other qualifying reasons then the NY court will not be involved. Careful planning is required in advance to legally classify and protect assets to avoid the lengthy probate process and set up joint ownership or a trust.

Get a free consultation with the local estate planning experts at:

Roman Aminov Esq. Estate, Probate & Elder Law of Queens 147-17 Union Tpke, Queens, NY 11367 (347) 766-2685 https://www.aminovlaw.com/

Medicaid Trust

Medicaid Planning: Irrevocable Medicaid Trust

Dan Rose

It is necessary to understand the different planning strategies which allow seniors to obtain benefits while protecting their assets for their beneficiaries. While long-term care insurance is the best option, it is not always an option. That is why most Medicaid Trust Lawyers in New York use another technique;  an irrevocable Medicaid trust which can have various benefits both during life and after death.

Benefits throughout life

Planning a Medicaid trust in NY  involved transferring assets, including real estate, into an Irrevocable Medicaid Trust.

There are certain benefits to this kind of trust including:

  1.  The right to remain in the home as long as you and your spouse are alive.
  2.  The right to make the trust “income only” and collect any rent the property generates.
  3.  The ability to keep your existing STAR and Enhanced STAR property tax relief as long as you reside in the home.
  4. The right to use the $250,000 (if single) or $500,000 (if married) capital gains tax exclusion if the home is sold during your life.
  5. When homes are placed in a trust your beneficiary can be protected from creditors.
  6. Changes can also be made during your lifetime

Benefits After Death

After both spouses have passed away the trust will distribute assets according to their predetermined wishes. By writing a will you can reference the trust the right is retained during life to change the beneficiaries. So this means the right of control is not forfeited. This means a home can receive a step-up tax basis, saving the heirs from paying capital gains when the home is sold. 

Probate can also be avoided which saves both the time and money of the beneficiaries. One of the reasons you might want to avoid probate is the Medicaid estate recovery which means the Medicaid program can claim back what was paid after death.

Working with a Medicard lawyer is the best way to ensure you, your assets and your beneficiaries are protected.

Get a free consultation with the local estate planning experts at:

Roman Aminov Esq. Estate, Probate & Elder Law of Queens 147-17 Union Tpke, Queens, NY 11367 (347) 766-2685 https://www.aminovlaw.com/

elderly couple

Do Surviving Spouses have Rights?

Dan Rose

What is Spousal Election & Protection?

Spousal right of election in New York is a law where a surviving spouse is entitled to receive up to $50,000 or 1/3 of the total assets value from their spouse, even if they were left less than that under a will and beneficiary designations. As defined in the New York’s Spousal Right of Election NY laws you can be protected if you act quickly and work with an experienced estate attorney. Let’s take a look at a few cases of how the law can be used in your favor

Case 1: Need to know facts of case 1: Beneficiary Designations

  1. The couple was separated for several years before one spouse passed away.
  2. The family of the deceased individual claimed the spouse abandoned the now deceased spouse and forfeited their rights to spousal right of election
  3. A petition was filed to the surrogate court in NY asking to rule that the surviving spouse has a right to ⅓ of the estate value

After finally arriving at court the family continued to maintain their original position and they wanted to take the case to trial. But after dedicated negotiations, the case was settled for nearly the exact amount of the value of ⅓ of the estate. Without any risk of the expense of going to travel, which can be very costly.

Case 2: Need to know facts of case 2: Investment Property

  1. A spouse passed away leaving the surviving spouse everything except investment property.
  2. The surviving spouse was not sure if they were entitled to more
  3. Even though there was a will which declared the above facts, it was discovered that this was only 1.5 of the value of the estate with the exclusion of the investment property. And as we know there is a legal right of ⅓.
  4. The other beneficiary of the investment property was required to redistribute the remaining value to equal ⅓ of the total value to the surviving spouse.

Knowing your rights can be complicated especially when all the facts of the case are considered, but choosing a top rated estate law firm in NY can help you to make the process easier and less expensive.

Get a free consultation with the local estate planning experts at:

Roman Aminov Esq. Estate, Probate & Elder Law of Queens 147-17 Union Tpke, Queens, NY 11367 (347) 766-2685 https://www.aminovlaw.com/

protect NY home from Medicaid recovery

How To Protect Your Assets From Medicaid

Dan Rose

Applying for Medicaid in NY certainly comes with its pros and cons. Many elderly people are concerned that Medicaid may try to take their home (or other assets) after their death. And if they have children, grandchildren or family members they wish to leave assets too it can be very concerning. If you are worried about protecting your assets from Medicaid in your old age or after passing then a NY elder law attorney can help with planning.

Medicaid is divided into two general categories: 

  • Institutional, which includes nursing home and intermediate care facilities
  • Community-based which includes all the other services Medicaid provides including home care and insurance. 

Understanding these two categories are one of the major factors taken into consideration regarding assets along with age and family situation.

Medicaid is required to place a lien on your home if:

  • Are receiving nursing home care
  • are considered a permanently institutionalized individual (will not return home)
  • Own your home

In these cases when the property is eventually sold the lien must be paid in full before the beneficiaries receive any assets or funds.

But there are certain exceptions to this rule including:

  • If certain qualifying family members are residing in the home including a spouse, child under 18, or a child of any age who is blind or disabled the lien cannot be placed.
  • If you return home after being a permanently institutionalized individual,  Medicaid must remove the lien. 
  • Prior to initiating a lien against your home, Medicaid allows you to transfer your home to the children under 18, spouses or any blind or disabled child of any age

Probate and Medicaid

If Medicaid is providing you with various types of medical care it is possible they will try to reclaim the value of their payout from your estate that is in probate. This is called Estate Recovery and there are certain ways to protect yourself from it. 

But it is possible to protect your home from probate since Medicaid goes after assets included in probate.

Next, they can only recover payments paid after your 55th birthday. They can only recover up to 10 years’ worth of benefits from the day of death. And lastly, Medicaid can not recover any payment if you have a living spouse, a child less than 21 years old or a disabled or blind child of any age. 

What type of trust protects assets from Medicaid?

An income only Medicaid trust is one of several methods an experienced elder law attorney can use to help protect your home.

Get a free consultation with the local estate planning experts at:

Roman Aminov Esq. Estate, Probate & Elder Law of Queens 147-17 Union Tpke, Queens, NY 11367 (347) 766-2685 https://www.aminovlaw.com/