Preserve the Legacy You Create Every Day
Our Elder Law practice focuses on issues facing our aging population with an emphasis on helping mitigate exorbitant long term care costs. We do this through an in-depth review of our clients’ medical and financial situations to determine if Medicaid or Veterans Benefits are a good fit. When clients are ready to apply for benefits, we also handle Medicaid applications.
Elder Law: Medicaid Planning for Long Term Care
Nursing home costs can easily be $11,000 to $13,000 per month in the New York Metro area. This is a huge expense that you should account for when thinking about the future.
Our planning process includes a comprehensive review of your financial situation and goals. We explore different options for long term care, explain the varying levels of care, and identify the right fit for your finances and personal preferences.
We then work together to align everything and set up appropriate legal structures to preserve your legacy for future generations. Read this article to learn more about Medicaid Planning and what it entails.
Elder Law: Medicaid Spend Down in an Emergency
Life can sometimes take you by surprise. Unfortunately, this happens every day when people unexpectedly need long term care.
A common situation is that someone suffers a stroke or other serious illness and cannot return home after their hospital stay. If rehabilitation is needed, Medicare only pays for up to 100 days. After that, you are on your own and the costs are very high.
While this planning could have been done prior to your health crisis, planning at any point can still potentially save a significant amount of your assets. Learn more about a Medicaid spend down.
Elder Law: Medicaid Applications for the Elderly
Applying for Medicaid can be difficult and time consuming. Compliance with their strict rules is crucial and part of the process requires you to disclose financial records for the last 5 years.
You must know how Medicaid will look at your transactions and what may or may not trigger their “penalty period.”
Once triggered, this penalty could prevent you from receiving much needed Medicaid benefits for a long period of time.
Working with Andrew will make the application much easier with helpful guidance in navigating this difficult process. If you are considering applying for Medicaid, read this article to learn more about it and call us for a free consultation.
Elder Law: Veterans Aid & Attendance
Veterans and their surviving spouses can qualify for Aid and Attendance benefits, which are payments added onto a monthly VA pension.
You qualify for this benefit if you satisfy one of these criteria:
1. You need assistance with activities of daily living, which include maintaining personal hygiene, dressing, eating, maintaining continence, and transferring/mobility; or
2. Your illness causes you to stay in bed for most of the day; or
3. You are in a nursing home due to mental/physical disabilities; or
4. You have very limited eyesight.
This benefit can be extremely helpful and, unfortunately, some Veterans or their surviving spouses do not realize they can receive it. Contact us if you think you qualify.
Please call us at 201-664-0540 or go to www.schedulefreeconsult.com to set up a time to speak with us to learn more about Elder Law and how Andrew can help.