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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...
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...
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...
In New York, in order to qualify for Medicaid benefits, you must have assets below a certain threshold. The threshold is very low, and most people do not want to impoverish themselves just so they can qualify for the benefits they may need for nursing home care. It...
