Growing older brings many challenges, especially when it comes to your health and healthcare costs. Assistance from Medicaid's long-term care program offers relief for many seniors. But many New Yorkers find themselves in a difficult position—earning more than...
Long-term care can cost at least $4,300 a month in an assisted living facility. For nursing home care, the national median is about $7,756 a month for a semi-private room. Unfortunately, many Americans cannot afford these services out-of-pocket. Long-term care...
Planning for the future of a loved one with special needs involves careful thinking, especially about Medicaid eligibility. In New York, special needs trusts (SNTs) offer a valuable tool to ensure your loved one gets the care they need without risking their benefits. ...
A Medicaid divorce is a complex and often misunderstood concept in elder care planning. It is crucial to understand what it means, why some couples consider it, and when it might be appropriate. What is a Medicaid divorce? A Medicaid divorce is when a married couple...
Long-term care can be expensive, especially in a state like New York, where costs can be higher than in other states. That is why Medicaid planning is vital, especially for families whose only option for long-term care is Medicaid. Even well-to-do families can use...
Understanding asset protection and healthcare eligibility can be challenging for many individuals. A Medicaid Asset Protection Trust (MAPT) offers a strategic solution to this dilemma, allowing for the preservation of personal wealth while maintaining eligibility for...
Your potential need for long-term care is real. And if you end up needing a nursing home stay or some other form of long-term care, you’re bound to incur significant costs that can quickly erode the wealth that you’ve worked hard to accumulate. As a result, you might...
If you are contemplating a move to a nursing home in New York or assisting a loved one in doing so, understanding the associated costs is crucial. The intricacies of nursing home expenses are influenced by multiple factors like location, duration and required care...
Many people begin their estate planning journeys without understanding what the related legal terms are, which can be confusing and can lead people to make decisions that may not be in their best interests. For example, one of those words is probate. Probate is the...
Medicaid is a federal assistance program that helps participants with the rising costs of medical care as they grow old. Many states, including New York, have their own financial assistance programs that can be combined with Medicaid to provide significant help to...
