Medicaid Planning in Advance of Changes to the Healthcare System By: Salvatore M. Di Costanzo, Esq. With Congress about to break for a two week Spring recess, the repeal of Obamacare appears to have stalled and remains uncertain. Notwithstanding, we must pay attention to the various proposals that have been put forth by the…
The look-back period is very different from the penalty period and as always the rules are different depending on whether you are seeking Medicaid to cover the cost of homecare or nursing home care. Conceptually, the look-back period is the period where asset transfers may impact your eligibility for Medicaid. The penalty period is the…
Second to the house, an individual retirement account (“IRA”) is usually the largest asset when looking into someone’s financial portfolio. The tax and Medicaid rules dealing with IRAs are very different yet related, quite complex and often misinterpreted or misapplied. It is important to have a general understanding of these rules in order to avoid…
If there is one unavoidable consequence of life and relationships, it is that our loved ones may fall ill at some point, whether it be a parent, grandparent, child, aunt or uncle. Sometimes it could be a tragic accident or disease that affects them, and other times it is simply part of the aging process….
In Yorktown, NY and the surrounding community, I often see the homestead as the single most valuable asset of an estate. The “American Dream” is to own a home, create memories there, and one day, leave it to your children. However, without proper planning, the dream can soon turn into a nightmare if nursing home…
In a perfect world, everyone would craft an estate and elder care plan well in advance of having to implement it˗ but the world isn’t perfect! I have had the opportunity to work on a fair amount of cases where clients, who had no estate or elder can plan, fell ill or became disabled. In…
