The cost of long-term nursing home care continues to grow in America. For many Americans and their families, the greatest fear is being unable to meet the cost of quality health care - being forced to spend their life savings before qualifying for government benefits. Smart Medicaid planning can help prevent this from happening.
Our firm helps people plan for the future through Medicaid planning. Medicaid planning is used to help clients protect their homes and their property. Medicaid planning usually involves the establishment of an irrevocable trust, and the transfer of those assets to the trust. If property has been timely transferred into a trust, the property will be protected, and it will not disqualify an individual from receiving Medicaid benefits.
In order to be eligible obtain Medicaid coverage for “in-home” home care, the applicant’s income and resources must not exceed Medicaid guidelines. Our firm handles Medicaid planning and applications for “in-home” nursing care.
When it comes to Medicaid planning for nursing home care, many people have heard of the 5-¬year “look-back period”. This look-back period serves as a penalty for people who transferred some or all of their assets into a trust during the 5-year period prior to the filing of a Medicaid application. In view of the look-back rules, clients are often concerned that they will not receive any benefit from Medicaid planning. It’s never too late to plan. While the best outcome is achieved when people do their Medicaid planning early, it’s never too late to protect your assets with smart Medicaid planning. Our firm handles Medicaid planning and applications for nursing home care.
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Law Offices of Barton P. Levine - New York Office
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New York, NY 10016
Law Offices of Barton P. Levine - Long Island Office
1225 Franklin Avenue, Suite 325
Garden City, NY 11530