Two out of three families in the United States dry up their finances within the first year of an extended stay in a nursing home. Why? Nursing home care is expensive. On average the monthly tab can run as high as $10,000 to $14,000. Most people fail to realize that you can still qualify for public assistance despite the fact that you may own a substantial amount of assets. Government assistance in the form of Medicaid and Veterans Benefits can help pay for long term care such as a long term stay in a nursing home or the assistance of a home health aide with daily activities.
At Mishiyeva Law, PLLC., we can offer estate planning strategies that will allow you to qualify for Medicaid without losing your wealth and assets. On top of that, with our estate planning techniques, we can show you how to properly prepare for mental/physical incapacity.
What Is Non-Crisis Medicaid Planning?
This is essentially for individuals who are relatively healthy but want to ensure that if they do become incapacitated, an estate plan is in place to ensure they are financially ready for the challenging time that may be ahead. Preparing a plan early on is vital in protecting wealth and ensuring adequate health care. Furthermore, family members are prepared ahead of time in case incapacitation strikes.
The best way to have the right estate plan ready is by retaining a law firm concentrating their efforts on estate planning, and specifically elder law and Medicaid planning in New York State. There are many nuances and intricacies regarding this area of law and it is always best to hire the right professional. The last thing anyone wants is a poorly written trust or any other estate planning document that can have adverse effects on your financial situation. This is why it is crucial to hire the right lawyer for the job.
What is a Medicaid Crisis?
If you are faced with a situation in which you are already residing in a nursing home or are in the process of being admitted, you may face the possibility of being cut off and disallowed from qualifying for Medicaid assistance due your available resources. Do not be overly concerned when a healthcare professional informs you of the bad news. They may not be aware of the subtleties involved within this area of law that an attorney does. There is still a chance to resolve the situation to ensure you get the proper assistance you need. You can read our latest article to learn more if you Qualify For Medicaid in New York.
Our Services Involving Medicaid Include:
- Medicaid Applications
- Medicaid Hearings & Appeals
- Medicaid Asset Protection Trusts
- Pool Trusts
- Special Needs Planning
Meet Your Medicaid Planning Lawyer in New York
Kamilla Mishiyeva, Esq., the founder of Mishiyeva Law, PLLC., is the right person for the job when it comes to your NYC Medicaid planning needs along with the assistance you may require for estate planning, probate administration, estate administration, trust and will preparation, and elder law assistance. Call us today at (646) 535-1667. We are located on 85 Broad Street 18th Floor, New York, NY 10004.