Long-term care planning isn't something that most people think about until they need to get some type of care assistance. The issue with this is that the individual might not qualify for Medicaid care because of their assets. Medicaid is a program that is needs-based,...
Elder Law
The importance of a health care proxy and agent
A health care proxy is one of the most crucial documents you can have in your estate plan. It's one document that just about any adult, regardless of their age, is wise to have.It details your wishes for your medical care – particularly things like under what...
Important Changes to New York Medicaid
New York has included in the 2020 State budget Bill significant changes to New York's Medicaid rules for Community Medicaid (Home Case) benefits, making it harder for New Yorkers to obtain Medicaid benefits for long-term care. The changes to New York State's Medicaid...
A pooled trust could help you qualify for Medicaid
You've been living in New York for years, and you're getting up in age. You want to make sure you can stay where you are and enjoy your retirement from the comfort of the home you've made there. Living in New York costs a fortune. If you have to go on Medicaid, you're...
The sooner you begin Medicaid planning, the better the protection
Too many people don't think about whether they will need Medicaid until they are actually in the situation where they have to apply for Medicaid's income-based medical benefits. This lack of preparation likely reflects the fact that many people don't realize that the...
Here are the answers to 4 common health care proxy questions
You've been thinking about updating your estate plan, and you want to add to it. You already have a will, but something your spouse has been suggesting is that you choose someone to be a health care proxy. You're not sure that you want other people making decisions...
Goals of Medicaid planning and how to get started
Even if you don't qualify for Medicaid right now, the right approach to planning could put you in line to receive benefits in the future. The goals of Medicaid planning can differ from one person to the next, but typically include some or all of the following: Provide...
Long-term care and your financial situation
If you're in the process of creating an estate plan or simply thinking about the future, it won't be long before matters associated with long-term care move to the top of your mind. It's your hope that you never require long-term care as you age, but you can't assume...
Worried about dementia? Get a health care directive now.
Death and medical conditions are things that most people don't want to deal with. Ignoring them will not prevent them from happening, but it can lead to problems when determining how your loved ones will have to handle the issues. One area that many people fail to...
Trusts may keep you eligible for Medicaid later in life
Many of the baby boomers living here in New York may start to wonder about whether they will need long-term care at some point in the future. If you are one of them, then you may also wonder how to best prepare for the cost of that care. You may know people who make...