New York Medicaid planning can be a very complex application process for you and your loved ones. Seeking legal guidance from an experienced New York Elder Law attorney versed in Medicaid applications can help you better prepare for the possibility of long-term care and protect your assets.
Understanding the New York Medicaid Application Process
It is vital to understand the Medicaid application process in New York. Medicaid is a program for individuals and families who can’t afford the cost of long-term care. When you or a loved one apply for Medicaid in New York, proof of income, citizenship, and residence are required. For some New Yorkers seeking Medicaid benefits, it is important to work with an expert New York Elder Law attorney to make sure you or a loved one meet the asset and income thresholds required for Medicaid benefits.
It is Never Too Late to do Medicaid Planning in Nassau County and Suffolk County
It is almost never too late to protect some of your hard-earned money for your family or favorite charity. Even if you are already in a nursing home, we can usually help. One of the most common misconceptions of New York Medicaid planning is that it must be done well in advance of going to the nursing home in Nassau County, Suffolk County, and surrounding areas.
Medicaid Applications and Financial Catastrophes in New York
A mistake on a Medicaid application can be a financial catastrophe. For example, if you transferred assets or sold your home to a child for less than fair market value, a Medicaid application submitted a week too early could knock you off the Medicaid program for months or even years. This is according to the New York Medicaid rules (specifically, look-back rules), which can change. For example, the look-back rule has recently been expanded to five years for all transfers made on or after February 8, 2006. Medicaid rules can and do change. That’s why it’s so important to get advice from an experienced New York Medicaid lawyer before you submit a Medicaid application.
Russo Law Group, P.C. helps you and your loved ones handle Estate Planning, Elder Law, Special Needs Planning, Medicaid Planning, Trust & Estate, Guardianship, Small Business Planning, and Real Estate Law. We welcome you to contact our Garden City, Lido Beach, Islandia, or Manhattan, New York law offices to learn more about how we can help address your Medicaid planning legal matters.