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Medicaid Planning in New York | What You Should Know

It is important to understand your options when it comes to Medicaid. With a skilled Rockland County estate planning attorney on your side, you can work with a legal team that can help you obtain the financial support you need to receive medical treatment. Reach out to our firm today to get started.

What is Medicaid planning in New York?

You should begin planning for your Medicaid eligibility at least five years ahead of time. The history of your assets will be considered in order to determine your eligibility for Medicaid. As a result, it is critical that you have a clear idea of your financial status. If you are unprepared, you can end up with serious fines and other legal consequences.

It is in your best interest to reach out to our skilled New York estate planning attorneys today to ensure that you can receive the healthcare you need without the financial burden.

Do I qualify to receive Medicaid?

Not everyone can receive Medicaid. This is because Medicaid is a program for people whose income and/or resources are under specified levels. However, there are individuals who have medical bills that may qualify even if their income and/or resources are above the Medicaid income levels that are required. These levels normally change on January 1 of each year. Those who are qualified for Medicaid can involve children, pregnant women, single individuals, families, and individuals certified blind or disabled.

Speak with an experienced Contact our firm to speak with an experienced Rockland County estate planning attorney today to discuss the details of your situation and your options.

How can I restructure assets to obtain Medicaid coverage?

In some instances, you may be able to restructure your assets to enhance the chances of receiving Medicaid coverage. You can do this in several ways, including:

  • Creating irrevocable trusts
  • Gifting certain assets to family members or loved ones
  • Transferring the title of the home to the beneficiaries who would receive it upon the decedent passing anyway
  • Paying off debts and mortgages
  • Making repairs to your home
  • Prepaying for your funeral expenses
  • Consulting an attorney regarding other restructuring methods that may work for your specific situation

At The Lauterbach Firm, our legal team is on your side and is prepared to help you with anything related to Medicaid. Do not wait to reach out today to discuss your options and to ensure that you are on the right track. We are just one call away.

Contact our Firm

The Lauterbach Law Firm is proud to serve clients throughout Rockland County who are faced with legal matters related to estate planning, real estate, foreclosure defense, landlord-tenant law, business law, and criminal defense. If you require the services of an experienced team of attorneys, contact The Lauterbach Law Firm today to schedule a consultation.

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