Category Archives: Asset Protection
New York Asset Protection 101
For a long time, most people saw estate planning as making a will, with no other steps required. In reality, asset protection steps help anyone who has assets; given the potential quirks of the probate process in Westchester County, it can settle a person’s mind to know that their assets can be as guarded… Read More »
Having The Difficult Conversations About Asset Protection
No matter what type of relationship a person has with their parents, facing their aging and eventual passing can be difficult for all the parties involved. However, having those conversations about asset protection and estate planning are crucial – after all, it is a good idea to try and protect the assets they worked… Read More »
What Steps Should I Take Now For Medicaid Planning?
Nobody wants to think about needing to rely on Medicaid to cover long-term care in old age. However, it is critical for Mahopac residents to know that, statistically, it is more than possible that long-term care will be necessary at some point, even if it is for a limited amount of time. Indeed, according… Read More »
How To Discuss Asset Protection With An Aging Parent
Many older adults in Pleasantville and throughout Westchester County are resistant to the idea of addressing asset protection strategies and considering ways of protecting their assets in the event they require long-term care. For a number of older adults, these discussions can be unwanted because they highlight the fact that their lives are changing… Read More »
What You Should Know About The Medicaid Lookback Period
Many New Yorkers in Westchester County will need to rely on Medicaid to cover the costs of nursing home care or other forms of long-term care. As you may know, Medicare is a federal health insurance program for people who are 65 and older, while Medicaid provides health care coverage to lower-income Americans. New… Read More »
Elder Law And Medicaid Estate Recovery: How Does It Work?
It is critical to plan ahead for Medicaid coverage for nursing home care given the very high costs. The New York State Department of Financial Services reports that nursing home care in downstate New York costs approximately $340 per day. That’s more than $10,000 per month! Over the course of a year, the average… Read More »
Do I Need Advanced Directives?
Whether you are getting ready to meet with a Putnam County or Westchester County asset protection lawyer or you are wondering about whether you need an attorney to help you with estate planning, you might have come across the term “advanced directives,” which are sometimes written as “advance directives” in other states. You may… Read More »
How Can A Mahopac Lawyer Help With Elder Law And Asset Protection?
Planning for long-term care can be complicated and difficult, especially when long-term care must involve Medicaid planning. Any long-term care planning should involve extensive thinking about options for protecting your assets, and learning more about the potential penalties and risks associated with transferring assets soon before needing care in a nursing home. How can… Read More »
Medicaid Asset Protection Trusts FAQs
If you are helping an elderly parent or relative plan for nursing home care, or if you are making plans for yourself in the future, it is essential to consider a variety of options for protecting your assets while remaining eligible for Medicaid coverage. One option that many New York residents consider when it… Read More »
Medicare And Medicaid: Understanding Long-Term Care And Asset Protection
Older adults who need medical coverage may rely on both Medicare and Medicaid. However, the two federal programs are quite different from one another. Medicare is a federal program that provides health coverage to older adults aged 65 and up, as well as to adults under the age of 65 if they have a… Read More »