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...
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...
As you get older, healthcare and medical needs generally increase. Medicaid could help you pay for these long-term needs, but qualifying might be a challenge. There are specific income and asset thresholds you must meet to be eligible for Medicaid. These rules are...
Many older Americans are living happy, healthy and productive lives, but no one can stay that way forever. The older we get, the more likely we are to need long-term care. In fact, some studies have estimated that 70% of Americans who live to age 65 will need some...
Even if you’re healthy now, there’s a significant chance that you’ll need long-term care at some point in the future. In fact, studies have shown that 70% of those age 65 and older will need some form of long-term care. This is a significant number, especially in...
As you probably know, Medicaid can help elderly New York residents pay for long-term health care needs. To qualify for Medicaid, you need to meet certain income and asset thresholds. This means that you cannot get Medicaid if your income is too high, or you have too...
When people in New York start to plan for their later years, they may know that there will be a time when they will need to move into a nursing home to receive the care that they need. Nursing home care can be expensive, and people may need to plan ahead to ensure...
You may plan on using Medicaid or other public assistance benefits to pay for your care needs during your senior years. However, these benefits are generally only available to those with a low income and few assets. Does this mean you have to impoverish yourself in...
A significant portion of Americans will require long-term care of some sort in their lifetime. This care can be incredibly expensive. While you might be able to afford it, paying for it out of your own pocket can severely decrease your estate, which means that your...
