LONG-TERM CARE PLANNING
Long-Term Care Planning in New York
Are you concerned about losing your house to the State of New York because you can’t afford nursing home care? Do you have elderly parents who don’t want to lose everything they’ve worked for because they need long-term care in a nursing home?
We are the New York elder law attorneys of Jacobowitz and Gubits, LLP. Since 1968, we have been helping families protect their financial assets with legal services designed to help you:
- Eliminate or avoid Medicaid liens on your home
- Remain in your home in the event the state seizes your assets
- Keep the family business in the family
- Protect your estate from arbitrary decisions by probate court judges
- Establish a living trust to disburse your assets without court intervention
- Draft a legally binding will that protects your survivors from litigation
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What can a New York lawyer for long-term care planning do for you? Get the facts. Call us at 845-764-9656 or toll free at 866-303-9595 or contact us by e-mail to schedule a consultation.
Why Is Long-Term Care Planning Necessary Now?
When an elderly person enters a nursing home for long-term care, the nursing home and state will look at every available resource for payment. (This can even include the adult children responsible for consigning a parent to a nursing home.) It is a common strategy to get financial assets out of the elderly patient’s name so that the nursing home or state have no personal resources to tap into, but the law says that the state can look back five years into the person’s financial past to look for hidden assets.
Many people make the mistake of waiting too long to disburse their assets. If long-term care is needed, the state can then penalize the one who made the gift. Long-term care planning should start at least five years prior to an anticipated need for nursing home care. But even for those who start planning late, substantial assets can be saved.Medicaid has time periods they work with. If you are thinking of elder law planning for yourself or your parents, it is urgent that you start earlier rather than later, but, even if it is the last minute, we can still work toward preserving assets.Don’t lose your family’s financial assets and property to the State of New York. Start thinking about long-term care planning now. Our attorneys have experience in all areas of Medicaid planning, estate planning, wills and trusts and other legal options to protect your family. Contact us to arrange a consultation with an experienced lawyer today. Jacobowitz and Gubits has offices in Walden and Monticello for your convenience.