Rockland County Medicaid Planning Lawyer

Rockland County Medicaid Planning Attorney

If you are looking for ways to protect your assets through a comprehensive estate plan but also ensure you qualify for Medicaid benefits, it is vital that you consult a Rockland County, NY, Medicaid planning lawyer. In some cases, individuals whose assets and income exceed the limits laid out by Medicaid need the added assistance of specific Medicaid planning in order to qualify for these necessary benefits. At Greco Law, our attorneys are here to help.

The New City, NY, Medicaid Program

In New City, NY, Medicaid is a federal and state program that pays for any nursing home costs that may arise for folks who meet the financial and health eligibility requirements.

However, in order to qualify for Medicaid, a single applicant must not own more than a certain amount of non-exempt assets. Medicaid planning, therefore, can be an essential tool to ensure that you are compliant with the restrictions associated with Medicaid and remain eligible for care.

Under Medicaid, there can be several benefits. These benefits include nursing home care, assisted living facility care, and even long-term home care. However, it is important to keep in mind that eligibility for Medicaid in New York is different from that of other states. Estate planning tools such as pension plans, IRAs, and life estates are held in a more favorable light in Rockland County, and certain Medicaid planning strategies can be implemented by an attorney.

One of the most common ways attorneys approach Medicaid planning is through the establishment of a trust. A living trust, for example, will not protect the assets held inside the trust and, therefore, could affect your qualification for Medicaid. However, an attorney can draft a pooled trust, which must be an irrevocable trust, to guard against certain nursing home care expenses.

Who Can Be Eligible for Medicaid Benefits

It is also important to keep in mind that individuals wishing to apply for necessary Medicaid benefits must meet the state’s requirements, which are not solely based on their overall asset value. You must be a US citizen or a qualifying non-citizen. You must also fall into one of the following categories:

• Children
• Individuals over 65
• Individuals with certified disabilities
• Pregnant women
• Individuals who are certified as visually impaired

If you fall into one of these categories but are concerned your asset or net worth may put you over the Medicaid limits, it is vital you reach out to a Medicaid planning attorney from Greco Law who can review the details of your estate plan and look for ways in which to allow you to keep these benefits while still preserving the assets you own.

Speak With a Trusted Rockland County Medicaid Planning Lawyer

At its core, Medicaid planning works to implement certain strategies to bring your overall asset value and wealth below the limits needed for Medicaid eligibility. At Greco Law, we are experienced with finding the right strategies for our clients and implementing them to ensure you receive the long-term care needed when the time comes. Contact our offices today to schedule a Legacy Planning Session and learn more about our elder law services.