Vincent J. Russo Law & Associates, P.C.

Long Island’s Signature Elder Law, Special Needs and Estate Planning Law Firm

Planning Tip of the Day

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Vincent J. Russo


"Planning for Today's Concerns."

Vincent J. Russo, J.D., LL.M., CELA is a noted author, lecturer and advocate for seniors and people with special needs. He is the Managing Shareholder of his law firm - Vincent J. Russo & Associates, P.C. of Westbury, Lido Beach, Woodbury and Islandia, New York.

 

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Breakfast with Vincent, September 6, 2010

Medicaid Approved

With DRA, there were significant concerns regarding the Medicaid transfer penalty. Immediately, we focused on exempt transfers and in particular, transfers made for full consideration.

In a recent case in our office, we had a senior ("Mom") seeking Medicaid nursing home care. Mom's daughter had paid for her mother's home repairs and furnishings, medical equipment and medical supplies prior to entering the nursing home. The daughter had used credit cards to pay for these expenses and she had outstanding bills. Mom made payments to the credit card companies over a period of time in excess of one year for the expenses incurred by the daughter.