Long-term care costs have steadily increased and will likely continue to increase in the foreseeable future. New York State and the Federal Government are changing the rules regarding entitlement programs in an effort to reduce their own costs. As the system becomes more complicated, many people are worried that they will be disqualified from obtaining long term care treatment.
That’s a frightening prospect, and that’s why we specialize in the practice of Elder Law. We help our clients with a broad range of specialized services, including:
- Medicaid Applications
- Medicaid Planning
- Medicaid Fair Hearings
- Pooled Trust Applications
- Guardianship Actions
- Long Term Care Planning
- Asset Protection
- Real Estate Transactions
The old saying, “Growing old is not for sissies” is never truer when it comes to Elder Law. That’s why we assemble a team of professionals that can include financial planners, insurance advisers, geriatric care managers, and medical professionals.
Bringing the legal, financial and medical aspects of your Elder Law plan together in one place makes sense, because it saves you from having to seek out and retain the services of all of these professionals on your own.
At Wood and Associates, we understand that every client has different goals for their future. That’s why we create custom-tailored Estate Plans. We understand and appreciate the goals of our clients and draft a plan appropriate for them. . Our younger clients want to provide for their children and have the peace of mind that comes from knowing their kids will be taken care of. Our older clients simply want to protect their assets and ensure their precise wishes are met. It is never too early begin, because the relationship that we have with our clients lasts years and in many instances spans generations.
In our office no two clients are identical and therefore no two estate plans are identical; however, most include:
- Last Will and Testament. Explains your final wishes with regard to who is to receive your financial assets and other possessions and can provide for the guardianship of minor children.
- Advanced Healthcare Directive. Provides direction for your family when they must make health care decisions on your behalf.
- Health Care Proxy. Appoints a representative to communicate with doctors and nurses and make health care related decisions on your behalf.
- Durable Power of Attorney. Appoints an individual as your agent to make other necessary decisions in the event you are unable to do so, such as selling property or stock, or making other “business” decisions you.
- Trust.. A legal entity with multiple customizable options that maintains assets for the benefit of certain individuals.
Estate plans should be modified as you age and your health and assets change. In addition to modifying these plans with our clients we also streamline complex issues such as protecting wealth and assets, providing for retirement income, and providing for long-term care, by managing your team of trusted professionals like accountants, financial planners and insurance experts.
Running a business involves a lot more than profit-and-loss. For most business owners the day-to-day operation of the business is the easy part. The part they ignore is the tedious, legal and accounting matters that can sink them in the future: buy-and-sell agreements, taxes and insurance, compensation and compliance…and the documentation that goes along with it all. Business owners – and those who wish to start a new business – work with us to get it all done quickly, efficiently and legally. We help the clients choose between the many corporate structures, from Partnerships, “S-Corporations”, and Limited Liability Companies, just to name a few. We draft documents and advise partners and shareholders in small businesses on insurance decisions, buy/sell arrangements, Human Resources and business succession planning matters. And when a new legal matter pops up (as it often does when you are least expecting it) you have someone who knows your business – and knows the law – who is only a phone call away. . .we are here for them, as the part-time “General Counsel”, guiding the way to a successful business future.
This area of practice is focused on the NY Business Corporations Law (BCL), The Uniform Commercial Code (UCC) and NY’s Contract Law
Type of Work
- Drafting: Articles of Incorporation; Shareholder Agreements, Partnership Agreements, Membership Agreements (for LLC’s). Nondisclosure agreements
- Contracts between businesses
- Stock Transfer Agreements; Asset Purchase Agreements
- Commercial Loan Agreements, Private Mortgage and Note Agreements (for Residential and Commercial Properties)
- Every document needed in a Sale and/or Purchases of existing businesses
Nothing kills time and money more quickly in a business than litigation. But, unfortunately, sometimes a court battle is unavoidable. And when one happens, you need a legal firm with the experience to fight to protect the financial interests and legal rights of the business and its associates—while controlling litigation costs. Because the issues are complex. And the stakes arehigh.
At Wood and Associates, we routinely help partners, shareholders or board members who aren’t being treated fairly, fiduciaries that have been accused of a breach, as well as owners facing unfriendly takeovers or business dissolutions. We approach these matters with new ideas and different perspectives in order to bring about expeditious and cost-effective resolutions.
Real Estate, Land Use and Zoning Litigation
When it comes to Real Estate, there’s no such word as ”simple.” or routine. Buying and selling residential and commercial properties, obtaining Building Permits, Certificates of Occupancy, and Environmental Impact Studies, are minefields of potential problems that can cost you undue time—and money. That’s why you should never initiate a real Estate transaction or litigation without an attorney by your side.
At Wood and Associates, we’ll offer manageable solutions to real estate issues and help you understand all of your options before proceeding. We’ll also provide representation for commercial real estate transactions, i and have worked closely on deals involving Small Business Administration (SBA) financing programs.
Surrogates Court Litigation
Legally, the death of a spouse, relative or business partner can be tremendously complicated and stressful. If you’re settling an Estate and need assistance in navigating through the turbulent legal channels of the Surrogates Court, contact Wood and Associates first. We have the experience you need for the results you want.
Surrogates Court is governed by the Surrogates Court Procedure Act (SCPA), the Estates, Powers and Trusts Law (EPTL) and the Civil Practice Law and Rules (CPLR). We are experts in all three, and service Surrogates Court within Suffolk, Nassau, New York City, and Westchester.
We offer expertise in such areas as:
- Probate or Administration. These actions occur when someone dies with a will, or without one, respectively. Both are initiated for the same reasons, including transferring real property or financial accounts, selling the deceased’s assets, paying estate taxes and collecting inheritances.
- Exceptional Proceedings. These dealings are far more complex and emotional in nature and can include such matters as disagreements about inheritances among family members, removing fiduciaries, making a claim against an estate, and guardianship proceedings.
Running a business involves a lot more than profit and loss. For most small-to-midsize business owners, the day-to-day operation of the business is the easy part. What’s not? Paper-intensive, tedious legal and accounting matters that can seriously impact you and your business’ future, including:
- Buy/Sell agreements
- Taxes and insurance
- Compensation and compliance
- Commercial real estate transactions
- Succession planning
- Partnership agreements
- Small Business Administration (SBA) financing
Wood and Associates offers expert legal assistance and drafts the necessary documents in all areas of business operations. And whenever a new legal matter arises, which often happens in a business, you have peace of mind knowing you have highly accessible, trusted legal counsel who understands the ins and outs of your business and cares about its future.