Monthly Archives: June 2024
Life Estate Deeds & Medicaid Planning
Medicaid planning is the process by which a person divests themselves of assets in order to qualify for Medicaid-paid long-term care. It can be difficult to plan appropriately for Medicaid eligibility, because Medicaid requires a person not to have many assets in their own name, while most people want to preserve as many assets… Read More »
Medicaid Asset Protection Trusts
When a person starts Medicaid planning, it can sometimes be a shock to realize that the program has very strict income and asset limits – for example, in 2024, New York Medicaid required a single program participant to have no more than $1,732 per month in income, and $31,175 in assets. However, with proper… Read More »