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Category Archives: Asset Protection

LongTerm3

What You Should Know About Long-Term Care Insurance

By Meyer & Spencer, P.C. |

If you are thinking about planning ahead for long-term care and asset protection, it is important to understand how long-term care insurance works, the reasons people pay for it as a means of asset protection in the future, the costs of long-term care insurance, and the different types of plans that may be available… Read More »

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Medicaid3

How Does the Medicaid Lookback Period Work?

By Meyer & Spencer, P.C. |

If you are anticipating that you will need to take advantage of Medicaid’s long-term care insurance program, or if you have an elderly parent or loved one who will soon need long-term care, it is more important than ever to think about asset protection and to learn more about how the Medicaid lookback period… Read More »

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EstPl2

Will Placing My Assets in Trust Preserve My Medicaid Eligibility?

By Meyer & Spencer, P.C. |

New York’s Medicaid program has strict eligibility requirements. An applicant’s income and overall “resource level” must remain below a certain threshold. But with proper asset protection planning, it is possible for individuals whose resources exceed the threshold to obtain or retain their Medicaid eligibility. One question we often get is, “Can I protect my… Read More »

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Medicaid

What is a Medicaid Look Back Period?

By Meyer & Spencer, P.C. |

When you apply for institutional Medicaid benefits in New York, Medicaid will look at your income and assets for the last 60 months (5 years). You might have heard that it’s just 3 years, but that changed years ago. It is currently 5 years. Medicaid looks to any uncompensated transfers during that period of… Read More »

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