It is crucial for those who wish to set up a trust to realize how their estate plan could impact any benefits that they currently receive or may be entitled to receive. For example, assets in some trusts could disqualify the beneficiary from receiving Medicaid. On the...
PLEASE NOTE: We are able to fully assist you during these difficult times. We are offering our clients and prospective clients the ability to meet with us via telephone or through video conferencing. Please call our office at 914-948-1500 so that we may assist you.
We are pleased to announce the reopening of our White Plains office location for in-office meetings. We are following the applicable New York State regulations for Phase 2 re-openings. These regulations limit in-person gatherings, so although we will hold a select number of in-person meetings, we will continue to encourage telephone and video-conference meetings whenever possible. We have implemented health and safety procedures for all staff, as well as those clients who come into the office. Please click here for in-office meeting procedures.
Medicaid Planning
How do trusts factor into Medicaid planning?
It is impossible to predict when serious accidents may happen, or what sort of effects they may have. Medicaid exists to help provide people who face sudden disabilities and injuries with the financial support needed to survive. Individuals in New York with low enough...
Medical planning for the possibility of incompetence
The thought of being unable to voice your own wishes due to physical or mental inability is an unpleasant one many people shy away from. However, the possibility is one you need to consider and plan for. If you fail to do so, you may find your medical fate in the...
Could your parents qualify for the Medicaid Excess Income Program?
Medicaid is a government healthcare plan available based on need. To determine eligibility, the state will assess your parent's income and assets. For many seniors, their assets will put them over the threshold, making them ineligible for this program. However, New...
Should your parents consider a Medicaid spend down?
If your parents are beginning to experience the health issues often associated with aging, the time to begin Medicaid planning is now. Should they eventually require long-term care in a nursing home, Medicaid likely is the only way they will be able to pay its high...
What do you know about Medicaid denials?
As you or a loved one approaches your golden years, you may want to get a head-start on understanding Medicaid. Even if you submit an application, you may not receive approval. The American Council on Aging explains common reasons for a Medicaid denial. Before...
What is Medicaid planning?
Medicaid is a government-run health insurance program for low earners. To qualify for benefits, you must meet specific income requirements, which include calculating your assets as part of your income. The American Council on Aging explains that when planning for your...
A family may consider a trust when planning for Medicaid
Serious accidents may occur at any time, and they may also result in a devastating physical disability. Regardless of his or her age, an unexpectedly disabled individual may require Medicaid to provide for health care and assisted living expenses. As noted by New York...
How does the state assess my assets for Medicaid eligibility?
When you apply for Medicaid and are over the age of 65, different rules apply to you than for other applicants. The state will assess your assets as part of the qualification process. According to the New York Department of Health, the state looks at all countable...
Will nursing home care drain your life savings?
You have spent your life building financial security, but you have concerns about losing that nest egg if you or your spouse eventually needs long-term care in a nursing home setting. In that situation, New York will review your income and assets to determine...