Timins Law Group Blog

Give It Back! New York Turnover Proceedings

Posted on May 20, 2015

When a person passes away many people have a tendency of ransacking the decedent’s home and absconding with property. Co-Signers run to the bank to empty the safe deposit box (which they are NOT allowed to do in New York), people with access to the house take all types of personal belongings (so you know, the door locks should be changed immediately), and some people illegally use the decedent’s credit cards. Other people will accumulate mail containing financial information, then act as they see fit. Other times people will have an incapacitated person sign a Power of Attorney or blank checks, or even forge the signature. When that person dies the property that was supposed to go to one person goes to

Wills Only Deal With a Deceased Person’s Money

Posted on May 13, 2015

The title of this blog seems clear: A will only deals with a deceased person’s money. But what exactly does this mean? Is a retirement plan such as an IRA a deceased person’s money? How about a life insurance policy owned by the deceased individual? The term “estate” means many things, though the term essentially means “property”. Real estate is often referred to as real property by attorneys. The “gross estate” means all property owned by the deceased person for taxation purposes, meaning everything they have control over (including life insurance, some joint property, and retirement plans). However, the “Probate Estate” is only property that passes through probate. Probate proceedings do not distribute funds paid outside of probate. Life insurance

Asking Your Attorney About “Wise” Investments

Posted on May 5, 2015

Attorneys have a reputation for “killing” more deals than they enable. In my experience this is a true statement: Several clients make haphazard investment decisions, such as signing contracts with “silent partners,” getting involved with high risk investments (my least-favorite: forwarding money for an independent film), or getting their feet wet with a new sure-thing-get-rich-quick scheme (i.e. flipping a home or entry into the rental real estate market). Several attorneys can share horror stories of clients break their backs and banks on these ventures. But the question that should arise is often overlooked by the client: Does the attorney actually have any qualifications or experience to condone or dismiss the investment cost? By their nature, most lawyers are good with

GUEST BLOG – Sheila O’Brien, R.N., B.S.N., C.M.C. of O’Brien Care Management: Benefits of Hiring a Nurse Care Manager

Posted on May 4, 2015

A call comes in saying that mom has been hospitalized and you feel lost. Your loved one is showing signs of forgetfulness or neglect and you feel lost. You are concerned that a parent is at risk for falls or medication noncompliance and you feel lost. These are all too common scenarios in our busy lives. A Nurse Care Manager provides the answers to the difficult and all too common question, “what do I do next”. A Nurse Care Manager provides comprehensive oversight to a variety of individuals in need of help. Care Managers rely on their healthcare experience when managing home staff, and coordinating all aspects of care within an interdisciplinary approach. These services are tailored to the

GUEST BLOG – Alix Purcell of Alix LLC Brand & Marketing Strategy: How Will You Be Remembered?

Posted on April 24, 2015

The thought of dying is an unimaginable event to most people. As a result it takes a lot to sit down and anticipate the outcome you’d like for your heirs upon your passing. Going through the legal process of pulling together a will and testament is difficult enough, but rarely do people go beyond this to consider the emotional impact of the content they leave behind upon passing. I encourage you to reconsider the attention you give to this important topic. In my marketing consultancy work in content creation, I see the impact that carefully chosen language can have in completely transforming a message and connecting with a market in business, but imagine this impact in your personal life. .

Dealing With the Unthinkable: Handling Affairs After the Death of an Adult Child

Posted on April 24, 2015

I was 4 years old when my father passed away. This obviously caused me a great deal of childhood trauma, and the associated financial and emotional cost to my family to “rehabilitate” me was substantial. Only as I have aged and entered this profession have I become aware that his death seriously affected many other people in the family, not least of which was my mother. But instead of choosing the more obvious individuals, let’s discuss the strain that affected his parents, my grandparents. Depending on the family’s financial dynamic, the loss of an adult child can be absolutely devastating: Some parents have placed an enormous amount of resources on raising that child, and may have sacrificed to the point

PROBATE: Beware the Court Clerk!

Posted on April 13, 2015

For those of you that missed it, my March 26th blog post spoke of the importance of being exceedingly nice to court clerks while initiating the Probate process. The clerk is (a) extremely knowledgeable as to how Probate works, (b) the gatekeeper and only individual who can begin the proceeding, and (c) a human being with feelings. As such, treat them with respect. That is not what this blog post shall cover. Clerks, like all people, are human beings and human beings are fallible. You have to understand and accept this fact, or your visits to the Surrogate’s Court will end in you wanting to drown your bad mood at the nearest Happy Hour. I have had clerks tell me

GUEST BLOG – Chet Davis: How Home Buyers Can Obtain the Best Home Mortgage

Posted on April 7, 2015

Obtaining a home mortgage is one of the most substantial financial transactions that most families will ever negotiate. The mortgage loan process can take 60-90 days from the signing of a Contract of Sale on a purchase through closing. The loan application and related paperwork can be hopelessly confusing. So, how do you obtain the expertise for the one, two or maybe three times in your life that you’ll buy or refinance your home? Options for finding a mortgage include: Calling your local retail bank Going on a website like Bankrate.com or www.lendingtree.com Asking friends and family for recommendations Consulting with a residential mortgage banker Regardless of your approach, every home buyer needs to know the following before looking for

GUEST BLOG – Philip Swift: Falls Prevention Awareness

Posted on April 6, 2015

Falls, the majority of which occur at home, are the leading cause of injuries or death for those over aged 65, according to the Centers for Disease Control and Prevention (CDC). BAYADA Home Health Care – a leading national provider of home health care services – offers important suggestions to help people remain safe at home and reduce their risk of falling. “It’s important for seniors to accept that sometimes they need help to remain safe at home,” said Sharon L. Driscoll, RN, CRRN, director in the nursing office at BAYADA. “We found that the number one reason for falls in the home is lack of supervision or assistance. Not surprisingly, people want to be independent, even as they age,

GUEST BLOG – Cari B. Rincker, Esq: Farm Estate and Succession Planning

Posted on March 28, 2015

In the words of Ben Franklin, “[f]ailing to plan is planning to fail.” About 90% of farming operations do not survive the transition to the next generation. There are many possible reasons why a family farm does not succeed to a future generation; however, poor estate and succession planning is a prominent concern among the agricultural industry. After all, the average age of the American farmer is approximately 65 years old with very little (if any) estate or succession planning. In way of background, the term “estate planning” involves how the farm assets will be distributed to the heirs while “succession planning” delves into how the agri-business will continue to the next generation. Your objectives will help guide the entire