MEDICAID PLANNING LAWYER
Medicaid is a “means tested government entitlement.” In plain language, this means that a person’s income must be below a certain amount in order to be eligible for benefits, among other eligibility requirements. With proper planning, a person can protect his or her assets. Many people are often misinformed regarding Medicaid planning issues, and think that there is nothing they can do to protect assets. In most cases, some assets can be protected even at a very late date. However, the earlier the planning is started, the more assets can be protected.
Call (516) 487-5400 or contact us online for your consultation.
The New York State Department of Health lists the annual estimated average nursing home rate for Long Island for 2016 at $151,596.00 and for New York City at $144,348.00. Most persons without unlimited wealth who enter a nursing home will eventually have to rely on Medicaid to assist in payment of their health care.
Our firm is experienced in the use of Medicaid-exempt transfers, irrevocable trusts and combinations of loans and gifting and other planning techniques as tools to protect assets as a part of Medicaid planning.
Let us assist with your Medicaid-related legal needs by calling our law firm at (516) 487-5400 or emailing us now!