Fatoullah Ronald A & Assoc

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General Practice Attorneys, Attorneys, Business Law Attorneys

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Today: 9:00 am - 5:00 pm

Tomorrow: 9:00 am - 5:00 pm

30 Years

in Business

(718) 621-5300Visit WebsiteMap & Directions1861 86th StBrooklyn, NY 11214 Write a Review

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Mon - Fri:	9:00 am - 5:00 pm

Fatoullah Ronald A & Assoc

Guardianship
A Guardianship matter is where an individual(s) petitions the Court to have a Guardian appointed for a loved one or even a third party. The alleged incapacitated person will lack capacity or the ability to handle his/her own financial and/or healthcare needs. Taking on the role of becoming a guardian is a big commitment and responsibility. Every family situation is different and therefore requires a detailed consultation with one of our attorneys to ensure an optimal result.

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Neighborhoods: Bensonhurst, Southwestern Brooklyn
AKA: Ronald A Fatoullah & Assoc
Other Link: http://elderlaw-newyork.com
Categories: General Practice Attorneys, Attorneys, Business Law Attorneys, Corporation & Partnership Law Attorneys, Family Law Attorneys, Real Estate Attorneys, Tax Attorneys, Wills, Trusts & Estate Planning Attorneys

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Phone: (718) 621-5300

Address: 1861 86th St, Brooklyn, NY 11214

Website: http://elderlaw-newyork.com

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Fatoullah Ronald A & Assoc

Guardianship
A Guardianship matter is where an individual(s) petitions the Court to have a Guardian appointed for a loved one or even a third party. The alleged incapacitated person will lack capacity or the ability to handle his/her own financial and/or healthcare needs. Taking on the role of becoming a guardian is a big commitment and responsibility. Every family situation is different and therefore requires a detailed consultation with one of our attorneys to ensure an optimal result.

Business and Corporate Law

Corporate Law
We are very proud to announce that Robert Mehran, Jr. has become “Of Counsel” to Ronald Fatoullah & Associates. Robert has a strong background in Civil Litigation, Corporate and Business Law. He will be instrumental in assisting the firm with Guardianship Litigation and Estate Litigation matters.
Business Disputes

Real Estate Transactions
Following Debby, Junel Abreu, Associate Attorney, discussed the basics of a real estate transaction and the mechanics of transferring a property into a Living Trust. Once a Living Trust is fully signed, it must be funded in order for the Medicaid and/or estate plan to be effectuated.

Social Security Disability
Pursuant to the NYS Budget, the levels for Non-MAGI Medicaid will increase to 138% of the Federal Poverty Level (FPL) on January 1, 2023. This is the same income limit that applies to individuals whose income is calculated under the Modified Adjusted Gross Income (MAGI) formula. Using the same income limit for MAGI and NonMAGI Medicaid will allow current MAGI recipients to retain Medicaid coverage when they turn 65 and become eligible for Medicare or for younger individuals who receive Medicare due to receiving Social Security Disability benefits.
Medicaid Planning
Medicaid planning and planning for long-term care can be done at any stage of life, but we strongly urge everyone over the age of 55 to have a Medicaid and/or long-term care plan in place. The typical Medicaid plan involves the use of a Medicaid Asset Protection Trust which will give one the opportunity to protect his/her assets while receiving income and even avoiding probate on the assets held by the Trust. Planning in advance is the best way to preserve most if not all of an individual’s assets.

Trusts and Estates

Estate Planning
Your estate is the property and assets that you leave behind after you pass away. Estate planning is not just for the rich. It is there for anyone that has real estate and assets, including brokerage accounts, retirement accounts, life insurance, personal property, annuities, etc.
Wills
Probate is the legal process of submitting a Last Will & Testament to the Surrogate’s Court for approval. The Surrogate’s Court will validate the Will and legally appoint the Executor named in the Will to act on behalf of the estate. The Executor’s responsibility is to marshal (gather) and manage the assets of the estate and is responsible for carrying out the affairs of the estate, including paying debts and eventually distributing assets in accordance with the terms of the Will.
Trusts
Trusts and Wills clearly spell out who your beneficiaries are and how and when assets will be distributed to them. Properly drafted Trusts and Wills can ensure that your assets will be protected for your family for generations to come.
Power of Attorney
It is always better to execute documents in advance of becoming ill if the individual can express a desire to appoint an attorney-in-fact (using a power of attorney) and a health care agent. Without a durable power of attorney, no other person has the authority to access an incapacitated individual's funds.
Probate

Tax Law
A Trust is a legal document that creates an entity that gives the trustee the right to hold title to real estate and other assets. Trusts are established to protect assets for long-term care including Medicaid planning, estate tax planning, probate avoidance, asset protection for individuals with special needs and for spendthrift beneficiaries. The individual who creates the Trust is call the Grantor, Settlor, or Creator. The individual(s) who manages the assets held by the Trust and who distributes these assets in accordance with the terms of the Trust is called the Trustee. A Trust can provide your family with significant flexibility for the future.

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