The U.S. Census Bureau predicts that by 2030, sixty percent of New Yorkers will be age sixty-five and older.
The joint state-federal Medicaid program assists with the cost of care where an applicant is found to be financially eligible. The laws regarding eligibility are complex and ever changing, but at present there are steps that can be taken to become financially eligible. There is also the issue of Medicaid estate recovery that must not be overlooked.
I assist my clients with advance planning. Assets can be protected, such as transferring a home to an irrevocable trust or to exempt classes of people. Many people are unaware that the transfer rules are different for home care versus nursing home care.
The need to seek guardianship for an incapacitated person can be avoided by advance planning. Everyone should have a power of attorney and health care proxy. In cases where theses advance directives were not executed, I have experience representing family members seeking to become the guardian of a loved one.
Family is not an important thing. It’s everything. Michael J. Fox