Frequently Asked Questions
FAQ’s - Pre-Existing Condition Denials
What if my long term disability claim was denied because I have a pre-existing condition?
Your receipt of benefits can only be delayed if you suffer from a pre-existing condition. Do not walk away from your claim if you have been denied. Call Gisonni & Harms, and we can best assess your rights and chances of overcoming the unfair denial.
[top]
How much will it cost to fight the insurance company?
Gisonni & Harms assesses every case on its own facts. We have engaged in many different agreements with clients fair to both us and the client. Call us to discuss what type of agreement we can offer you.
[top]
What if my claim was denied a long time ago for a pre-existing condition?
You may still have an opportunity to reverse the denial of the insurance company. Call Gisonni & Harms as quickly as possible to discuss how we can help you.
[top]
Does it matter which company denied my claim?
No. No insurer in New York state can prevent you from getting long term disability benefits for a pre-existing condition. Any company that has done that to you or is doing that to you is violating the law, for which there are severe consequences.
[top]
FAQ’s - Elder Law / Estate Planning
A Power of Attorney is a document that allows you to appoint someone to make various non-medical decisions on your behalf. You designate the person or persons who are called the attorney in fact and the types of decisions they can make. A Durable Power of Attorney can be effective in the event you become incapacitated or disabled.
[top]
A Health Care Proxy is a document in which you appoint a person to make health care decisions for you at a time when you are unable to make those decisions for yourself.
[top]
What is a Living Will?
A Living Will is a document which details your health care directives and wishes should you become incapacitated or unable to make health care decisions for yourself.
[top]
If you have real property, other assets or minor or disabled children, you may need a will. A will is a document which directs how your assets will be distributed after you die. If you have minor children, you can nominate a guardian for your children in your will. A New York State resident who dies with assets and no will dies intestate, and the distribution of assets is controlled by New York State Law. This can be more costly and time consuming than having a will prepared and it having to go through probate.
[top]
Can I make provisions for a guardian for my children?
Yes. You can nominate a guardian and a successor guardian for your children in your will.
[top]
What can I do about a parent or relative who I believe is in need of a guardian?
If you have a parent or relative who you believe is in need of a guardian, there are procedures by which you can petition the Court for a determination as to whether a guardian is necessary and for a guardian to be appointed. The Court will promptly set a date for a hearing and the best interests of the alleged incapicated person is taken into account. If a guardian is deemed necessary, the Court will determine whether the nominated person can serve as guardian.
[top]
Should I worry about Estate taxes?
Currently, Federal Estate Taxes apply to estates valued in excess of $2,000,000. This figure will continue to rise until 2009 at which time the limit will be $3,500,000 for 2009 only. In 2010, there will be no Federal Estate Tax. However, under current legislation, in 2011 the Federal Estate Tax will return and apply to estates valued over $1,000,000. Importantly, New York estate tax does not follow Federal Law and applies to all estates valued over $1,000,000. This area of law is now a source of concern and legislation may be forthcoming which could change this. Therefore, estate taxation is an issue that should be addressed and continually reevaluated in any estate plan.
[top]
What is a Trust, and do I need one?
A trust is an estate document in which the person setting up the trust (the settlor) nominates a person or institution to handle the assets which the settlor transfer to the trust. The settlor may be able to receive income and principal from the trust during their lifetime depending on the type of trust drafted. At death, the trust assets are transferred to the person or persons named as beneficiaries. These assets avoid the probate process. A trust can be revocable or irrevocable. They can be used in various situations and may play a role in an estate plan.
[top]
FAQ’s - Personal Injury
Can I recover for pain and suffering for injuries sustained in a motor vehicle accident?
It depends. In New York, a person who is involved in a motor vehicle accident must sustain a “serious injury” as a result of a motor vehicle accident in order to recover for pain and suffering. New York State Insurance Law defines what a “serious injury” is. If your injury falls within one of these specific categories, you may bring a claim for your pain and suffering. Whether an injury is considered a “serious injury” is a highly litigated area of law. You should rely on the firm’s expertise in this area to advise you as to whether your injury is considered “serious” under New York State Law.
[top]
What if I am involved in an automobile accident and the other driver has little or no insurance?
You may still have recourse in obtaining a recovery for your pain and suffering. New York State law mandates that the owners of all motor vehicles carry uninsured and underinsured motorist coverage. If the person who caused the accident and your injuries has no insurance or minimal limits, you might be able to make a claim under those coverages. This could provide an avenue for recovery. In addition, the Motor Vehicle Accident Indemnification Corporation (MVAIC) provides another potential opportunity for recovery.
[top]
FAQ’s - Business
What can I do to protect my personal assets in my business dealings?
There are several different ways in which to insulate youself and your personal assets from liability arising from your business dealings. Among the alternatives are the formation of certain business entities such as Corporations (Corp.), Limited Liability Companys (LLC) and Limited Liability Partnerships (LLP).
[top]
What is in a partnership agreement and why do I need one?
The scope of a written partnership agreement can include terms relating to profit sharing, capital contributions, voting rights, admission of new partners, and provisions for when a partner becomes disabled or dies. While a partnership agreement may be oral, a written agreement creates clarity and direction for the partnership in the event of a dispute between partners or the death of a partner.
[top]
I have formed a Corporation with another person, are there any documents we should have?
When a small corporation is formed, it is recommended that a Shareholders Agreement and an Employment Agreement be considered. These documents provide for various life situations including death, disability or when and how a business can be sold, among other things.
FAQ’s - Real Estate
How does my offer to purchase a home become formalized?
Once your offer has been accepted by a seller, a contract of sale is drawn up by the seller’s attorney. The contract is then sent to the buyer’s attorney for review and possible negotiation. Once the terms are agreed to, all parties then sign the contract of sale.
[top]
What is a Sellers Disclosure Credit?
Under New York State law, a seller of residential property is obligated to complete a disclosure statement. However, the seller also has the option not to sign the statement. In this case, a $500.00 credit is given to the purchaser.
[top]
When should I obtain an engineer’s inspection?
Inspections can be performed before or after a contract of sale so long as it is provided for in the contract. Usually, an inspection is performed after an offer has been accepted, but before the contract has been drafted and entered into.
[top]
Are there special considerations when I purchase property with a friend or non-family member?
Each party should consider what they would want to happen to their share of the property should a party pass away while holding title to the property. If the parties wish the other to retain ownership of the deceased owner's share, then title would be styled as joint tenants. If, on the other hand, each owner wants their survivors or heirs to own the property at their death they may wish to consider tenany in common. A tenants-in- common agreement may be necessary to cover issues raised under this type of ownership.
[top]
What is title insurance, and why do I need it?
Title insurance will protect against loss if a covered defect is found in your title. Among other things, title insurance will protect against claims against the property (i.e. liens, unpaid mortgages, incorrect information in deeds, and claims to title). Generally, most banks will require you to purchase title insurance.
[top]