Medicaid eligibility is based on a number of factors, and having high value assets, substantial savings, or a monthly income above a modest threshold is usually disqualifying.
However, many seniors are able to create eligibility for themselves through the use of instruments like trusts, promissory notes, and other fiduciary arrangements that allow the owner to continue to live well while still having access to necessary services in the event of a health crisis.
It’s important that such planning start as early as possible.
Medicaid relies on a five year “look back” period in order to establish eligibility, so large gifts or trusts that have been established in that time period may leave you ineligible, or create a penalty period should you need nursing home or other services.
The attorneys at Friedman & Ranzenhofer have helped families in Buffalo plan for every eventuality for decades, and we can help you protect what you’ve built while still getting the care you need.
Call us today at 716-542-5444 for a free consultation with an experienced Medicaid planning attorney.