Did you know that by the time you’re 65 years old, there’s a 70 percent chance you’ll need long-term care? It can cost hundreds of dollars a day, making it prohibitively expensive for most New Yorkers. Fortunately, you can take steps to qualify for Medicaid to cover the costs. This is true, even if you have a high-value estate with lots of assets. First, though, you’ll need to undergo Medicaid planning to transfer assets from your estate. Then you can meet the eligibility requirements when it’s time to apply for Medicaid.
Medicaid planning is complicated, with numerous rules and regulations governing the program. Thus, consult with a Melville, NY, Medicaid planning lawyer for assistance. After reviewing your situation, the lawyer can go over planning options to help you qualify. Because Medicaid has a five-year look-back period for nursing home coverage, you need to start early, so reach out today.
Your Melville, NY, Medicaid planning lawyer will discuss your options for qualifying for the program. This might include:
These are just some of the possible strategies. Schedule your consultation today so you can review your options.
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