Medicaid has a complex set of eligibility rules, based a person's income, assets, and age. If you do not plan property all of your assets, your income and property could be used to pay for medical care, home care and/or nursing home costs before Medicaid benefits begin to be paid.
In order to prevent this from happening it is essential to develop a plan to transfer assets and income in order to qualify you or your loved one for Medicaid.
Law Office of Emily Ann Klotz PLLC will provide you with an initial consultation to see if and how we can serve your interests. We will prepare an evaluation of your family's financial situation. The planning recommendations will be designed to preserve your family's assets to the maximum extent possible.
Although it is best to plan in advance for the possibility of long-term illness, most people do not engage in this type of planning. In situations where Medicaid planning has not already been addressed, we will advise clients and their families after they realize the need for long-term care.
The rules regarding Medicaid eligibility are complicated and change constantly. New changes are anticipated as both Congress and New York State address deficit reduction and other economic issues. As Medicaid rules and regulations becomes increasingly complex, there are many pitfalls for people who may put off developing and executing a Medicaid plan.
The office can also assist with completing the necessary documentation to successfully apply for Medicaid benefits.
Call today and schedule a consultation.