Real Estate Profits & Qualifying for Medicaid Don’t Mix…Or Do They?

Real Estate Profits & Qualifying for Medicaid Don’t Mix…Or Do They? by Michael Fedele

Our firm receives a lot of inquiries about the qualification process for Medicaid if there is ever a need. In particular, many clients look to downsize their residence and move to the suburbs later in life. They are concerned about how to protect the equity they’ve built in their previous home.

Medicaid Planning

Common questions about real estate profits and Medicaid include: 

•Can I protect these assets?

•Is there something I can do with these assets?

•Can I buy another house and preserve the so-called surplus money?

The answer to all is, generally, YES. It all depends on how aggressively the client wants to pursue asset protection and Medicaid planning. Various types of trusts, life estates, and gifting all become viable options for people faced with this scenario.

Do You Qualify for Medicaid If You Have an Interest in Real Estate Assets?

Unfortunately, people are often under the misconception that they cannot qualify for Medicaid unless they spend down all of their money—and so they do. There are other options to pursue—many of which are contingent on family dynamics and how much of their assets the individual(s) would like to preserve and/or lose control of.

If you have questions regarding the sale of your home, please don’t hesitate to contact us today.

Michael J. Fedele, Esq.
135 Pinelawn Road
Suite 110 South
Melville, NY 11747
(P) 631-756-6006

Share This Blog

Ask A Question,
Describe Your Situation,
Request A Consultation

Call (631) 756-6006 or fill out the short form below. We will usually respond within one business day and often the same day. Don’t hesitate. Your questions are welcome!

Practice Area Form
* Required Fields
Your Information Is Safe With Us

We respect your privacy. The information you provide will be used to answer your questions or to schedule an appointment if requested.

Follow Us On

135 Pinelawn Rd #250s, Melville, NY 11747
Questions or Schedule An Appointment? Click to Call (631) 756-6006

Contact Us

Schneider, Garrastegui & Fedele PLLC

Hours of Operation

Mon-Fri 9am to 5pm
Clients first entrusted us to help them with their estate planning and elder law issues over 30 years ago. Since then, we have expanded our practice to include real estate, but our focus continues to be on assisting clients with some of the biggest issues they will face in their lives.

Our Elder Law & Estate Planning Office in New York

© Copyrights 2023. Schneider, Garrastegui & Fedele PLLC. All Rights Reserved.


Powered by Law Firm Marketing Pros

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. Contacting us does not create an attorney-client relationship.

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram Skip to content