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Reena Gulati Blog

Medicaid, Lady Bird Deeds, and Life Estates: What Real Estate Owners Often Get Wrong
For families trying to protect real estate while planning for long-term care or Medicaid eligibility, the internet is full of quick-fix advice:rnrn“Just put the house in your kids’ names.”rn“Do a life estate, it avoids probate.”rn“Use a Lady Bird Deed, it’s the best of both worlds.”rnrnBut in New York, these strategies are not always available or advisable. And more importantly, what sounds simple online can create complications that are hard to undo.rnrnLet’s take a closer look at the real risks of using deeds and life estates for Medicaid planning and what better alternatives may exist.
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What Happens When a Trust Inherits a Real Estate LLC Interest
Many families today hold real estate through LLCs for asset protection and liability reasons. At the same time, more and more are using revocable and irrevocable trusts as part of their estate plan to avoid probate, protect privacy, and plan for smooth wealth transfers.rnrnBut what happens when those two tools intersect?rnrnCan a trustee automatically step into the shoes of a deceased LLC member? Will the operating agreement recognize that trustee as a valid decision-maker? And what if it doesn’t?rnrnThese questions often come up during moments of transition—after the death of a parent, during a refinance, or when it’s time to sell inherited real estate. At that point, if the documents weren’t set up to speak to each other, the result is confusion, delay, and sometimes conflict.
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Understanding Trust Income: What It Is and Why It Matters
Many people believe trusts are only for the ultra-wealthy, but they're actually valuable planning tools for many families. As a trust attorney serving clients throughout Long Island and New York, I often find that understanding trust income is a key concern for both trustees and beneficiaries.
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Estate Planning: Why You Need More Than Just Documents
If all you needed for estate planning was a document, you could grab a will from Staples or download a form online. But estate planning isn’t about paperwork—it’s about protecting your family, your assets, and your legacy.rnrnThe Difference Between Documents and a Real Plan
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Estate Planning for Blended Families: How to Protect Your Legacy and Loved Ones
Blended families bring love and connection but also introduce unique challenges when it comes to estate planning. If you have children from a previous relationship and want to ensure they receive their rightful inheritance, strategic planning is essential. Without a well-crafted estate plan, assets may not be distributed as you intended, potentially leading to disputes and legal complications.
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