Lecture on Elder Law and Estate Planning by Michael Ettinger

Introduction

Speaker: Michael Ettinger of Ettinger Law Firm
Experience: Lawyer since 1980 (41 years experience, 31 years in elder law and estate planning).
Objective: To provide a litmus test to see where participants stand on their estate planning and identify areas needing work.

Ettinger Law Firm is a statewide firm with various offices in Long Island, Westchester, Rockland, Hudson Valley, Albany, and New York City.

Elder Law and Estate Planning: Specializes in trusts, wills, probate, estate tax savings strategies, Medicaid applications, and Medicaid trusts.

Elder Law (Disability Planning)
- Increased importance due to longer life expectancy.
- 50% chance of becoming disabled.
- Instruments: Health proxy, living will, power of attorney, trusts for disabled persons, guardianship proceedings, and Medicaid planning.
Estate Planning (Death Planning)
- Planning to distribute assets after death with minimal taxes and legal fees.
- Everyone needs it due to 100% mortality rate.

Estate planning allows taking control back from courts and government to oneself and family.
Trusts: Avoid probate, save time and money, keep assets in the family, and protect from long-term care costs.

Disability Protection
- Trusts protect against guardianship; wills do not.
- Guardianship proceedings are court-controlled, lengthy, and expensive.
- Trusts maintain control within family without court intervention.
Probate Avoidance
- Wills require probate, involving court proceedings and potential delays and expenses.
- Trusts avoid probate, saving time and money, and keeping estate private.
- Trusts are private, while wills are public records.
Inheritance Protection
- Trusts protect from children's divorces, lawsuits, and creditors.
- Inheritance protection trusts keep assets in the bloodline.
Long-term Care Protection
- Trusts such as Medicaid Asset Protection Trust (MAPT) protect from nursing home costs.
- Both revocable and irrevocable trusts have their specific uses and protections.

Helps qualify for Medicaid benefits for long-term care while protecting assets.
Requires assets to be put into an irrevocable trust and managed by a trustee (usually a trusted family member).
Offers significant protection for middle-class individuals, especially homeowners.

Disability Planning: Avoids guardianship, keeps control within family.
Probate Avoidance: Saves time and money, maintains privacy.
Inheritance Protection: Protects assets from divorces, lawsuits, and creditors, keeps it within family.
Long-term Care Planning: Protects home and savings, ensures eligibility for Medicaid.

Offers a free initial consultation, detailed review of existing plans, and proposal for necessary changes.
Provides ongoing support with newsletter and three-year review process to ensure plans remain current.
Does not charge for phone calls or email inquiries after the initial plan setup.
Flexible payment options available.

Options to schedule via Zoom, phone, or in-person at any of their offices.
Clients can use the provided contact information (Patty Brown) or the online calendar link to book appointments.

Clients receive a free copy of Ettinger’s book on elder law and estate planning.
Continued access to the Ettinger Elder Alert newsletter to stay updated on legal changes.