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Who Qualifies for Community Medicaid in NY?
A New Yorker interested in applying for Community Medicaid – that is, long-term care provided by home healthcare aides – must meet certain income and asset limits to qualify.
Our elder law specific estate planning sometimes involves both a revocable and irrevocable medicaid asset protection trust to provide flexibility for the unknown future. One issue that comes up is when a client enters an assisted living facility is which trust can help pay the costs of the facility.
Many individuals have heard of the trusts used in estate planning, such as an Irrevocable Trust, Income Only Trust, or Medicaid Asset Protection Trust. However, there is a trust not so commonly known, a “Pooled Income Trust” which can be established by Medicaid applicants.
Question: My husband may soon need a Nursing Home. I have been told that if he needs to go to a Nursing Home, we will have to spend down all of our assets before he can be eligible for Medicaid benefits, is this true?
In light of the COVID-19 closing of non-essential workplaces and the reduction of staff members in essential ones, the New York State Department of Health has adjusted the requirements for Medicaid applications and assessments during this time.
After what we were told were long negotiations and deliberations between Governor Andrew M. Cuomo, the Legislature of the State of New York, and their staff-persons, the Fiscal Year 2021 New York State Budget passed at 3 a.m. on April 3, 2020. As a result, some changes will be made to the Medicaid Managed Long Term Care program.
Question: Do I need to hire an attorney to complete a Medicaid application for my dad? He has some assets in his name, including his primary residence, which I have heard is automatically protected from Medicaid.
While the beginning of the year is typically tax season, it is important to remember that property tax exemptions can be applied for at this time. There are different programs that homeowners should be aware of in order to potentially save with respect to property taxes.
Question: Will my Social Security deposit increase in the New Year?
The tail end of the baby boomer generation is turning fifty-five this year and those born in the forties are moving into their seventies. They are setting milestones as they enter this third excelling at all levels.
