Fishkill Emergency Medicaid Planning Lawyer

Help is available when a nursing home is needed but assets are at risk. Serving Dutchess, Westchester, and Putnam Counties.

With the use of certain emergency planning tools and strategies the current law permits approximately one half of a person’s assets to be preserved.

Do not give up if you or a family member requires nursing home care and no steps have been taken to protect assets. Take control of the process and limit the financial damage with emergency planning.

Emergency planning is more complex than typical planning and often there is a sense of urgency. Our office is experienced when emergency planning is needed. The investment in emergency planning is crucial.

Emergency Medicaid planning is often necessary to protect your assets and can still result in savings. Emergency planning involves some of the same steps as advanced planning. First, an assessment of your income and resources will be undertaken to determine what is and is not countable for Medicaid qualification purposes. From there, it may be necessary to spend down these resources, by making exempt transfers or purchasing certain exempt resources. It may also be necessary to create a Trust to manage your assets and income. To increase the chances of saving your assets you should get the emergency planning process started prior to or as soon as you or a loved one enters long-term care.

There is a method for preserving assets if a person has never done any prior Medicaid planning and finds him or herself in a nursing home. This method is known as a promissory note planning, which allows the person preserve half of his or her assets so that only one-half the assets are used for nursing home care. Take advantage of this last opportunity for a family to preserve its wealth. Have the facts reviewed to determine eligibility and the extent that savings can be achieved. Emergency Medicaid planning can be utilized to preserve assets for the individual’s family.