Is It Legal To Put Assets Into Trusts In Order To Be Eligible For Medicaid In The Buffalo, NY Area?
Yes, there are a number of legal, ethical ways for seniors to allocate their wealth so that if their health declines to the point of needing nursing home care or similar services, they won’t have to decimate their lifetime of work and earnings in order to be eligible for Medicaid.
It’s important to work with Buffalo Estate Planning attorneys who are thoroughly versed in Medicaid planning and stay constantly up to date on new requirements, changes to Federal and New York law, and new regulations that govern these processes.
In the absence of effective Medicaid planning, you’ll be expected to pick up the tab for healthcare options that almost no one can afford in the long term.
Once you’ve made yourself effectively destitute, you’ll be eligible for support from Medicaid.
When a spouse develops a catastrophic illness, this can be especially wrenching, because both spouses are expected to impoverish themselves, even if one is healthy and expects to live decades more.
What families need to know is that the earlier you begin your Medicaid planning, the better off you’ll be should it ever be needed.
The attorneys at Friedman & Ranzenhofer help your family prepare for the worst, while allowing you to enjoy the fruits of your lifetime’s work.
Call us today at 716-542-5444 to speak to an experienced Buffalo Medicaid Planning attorney.