Elder Law Attorney Long Island

Is it time to consider finding a senior living community for your parent or senior loved one? Beginning searching for senior care can feel daunting at first, so here are five of the top questions you’ll need to ask as you connect with and tour your possible options: https://bit.ly/2O1SX9w Give Lisa B. Singer a call at (516) 271-3032 if you need Nursing Home Medicaid Planning service in Long Island NY.... https://ElderAttorneyLongIsland.com See more

Giving loved ones your assets as gifts can help keep them from being taken by the government when you die. However, there may be tax consequences and could render you Medicaid ineligible. Contact an experienced estate planning, elder law, or Medicaid planning attorney to help you protect your assets. The more you delay, the less likely you’ll be able to protect them. Questions? Call the Experienced Elder Law Attorney in Long Island NY... (516) 274-9103 https://ElderAttorneyLongIsland.com **** We are serving Nassau and Suffolk Counties of Long Island with all Elder Law services. Our main office is in Queens. Meetings in Long Island are by appointment. See more

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Not all gifts result in Medicaid ineligibility. Congress has specifically exempted transfers to disabled children, caretaker children, certain siblings, and monies put into trust for anyone who is disabled and under age 65. Additionally, they have exempted transfers into trusts that are designed to payback the state if under age 65; and pooleddisability trusts. However the laws are complicated, and provided you follow the explicit rules, gifts of these types will not rend...er you ineligible for Medicaid benefits. QUESTIONS? Contact Long Island Elder Law Attorney Lisa Singer for your Medicaid planning needs in Long Island, New York. Medicaid Planning Long Island NY https://ElderAttorneyLongIsland.com We are serving Nassau and Suffolk Counties of Long Island with all Elder Law services. Our main office is in Queens. Meetings in Long Island are by appointment.

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Financial look back for community Medicaid Up until now, there has been no official look back when someone applies for Community Medicaid. In other words, if assets were transferred prior to applying for Community Medicaid, there were no ramifications to that person’s eligibility for Community Medicaid. Effective with applications filed as of October 1, 2020, there will now be a 30-month look back, similar to that of a Medicaid nursing home application. If the applicant... made any non-exempt transfers, the applicant will be subject to a period of ineligibility (penalty period) based on the amount of the transfers. QUESTIONS? Contact Long Island Elder Law Attorney Lisa Singer for your Medicaid planning needs in Long Island, New York. Medicaid Planning Long Island NY https://ElderAttorneyLongIsland.com We are serving Nassau and Suffolk Counties of Long Island with all Elder Law services. Our main office is in Queens. Meetings in Long Island are by appointment.

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Naming you as the life tenant and a loved one you trust as the remainderman, with future ownership interest in the property. As a life tenant, you retain the right to continue living in your home until your death. After your death, ownership in the property is transferred to your loved one, which prevents the state from making a claim against it. If you create a life estate and transfer real estate, you’ll incur no penalty if you enter a nursing home, provided the transfer oc...curred at least five years before your illness. If you enter a nursing home within that five-year window, however, you may incur a financial penalty for transferring property that would otherwise have been available for estate recovery. Questions? Call the Experienced Elder Law Attorney in Long Island NY (516) 274-9103 https://ElderAttorneyLongIsland.com **** We are serving Nassau and Suffolk Counties of Long Island with all Elder Law services. Our main office is in Queens. Meetings in Long Island are by appointment.