Medicaid planning attorney Garden City - Schlessel Law PLLC - [phone]

Schlessel Law PLLC

Schlessel Law PLLC, nestled in Garden City, New York, is a law firm committed to aiding clients in managing their legal affairs. We concentrate on elder law, estate planning, and Medicaid planning, striving to ensure our clients' futures are well-secured.
Q: What assets does New York's Medicaid program exempt?
A: In New York, Medicaid exempts certain assets for eligibility determination. These usually encompass your main residence, personal items, household goods, one automobile, burial funds up to $1,500, a life insurance policy with a cash value up to $1,500, non-refundable prepaid funeral agreements, and IRA's and 401K's in payout status.
Q: How can I secure my assets from Medicaid implications in NY?
A: Consider establishing a Medicaid Asset Protection Trust (MAPT) to secure your assets from Medicaid in NY. It's an irrevocable trust, so once assets are moved into it, they typically cannot be moved back. However, once your assets are held in the trust, Medicaid no longer views them as your personal property or as assets that could potentially be used to cover your expenses.
Q: Is it a must to repay Medicaid in NY?
A: Yes, Medicaid does require repayment from any residual assets upon the death of a benefits recipient. As a federal program administered at the state level, Medicaid requires repayment in all states, though the process and specifics can differ from state to state.
Schlessel Law PLLC
34 Willis Ave Suite 300, Mineola, NY 11501, United States
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Other Services we are known for:
Asset Protection
Elder Law
Estate Planning
Medicaid Planning
Wills and Trusts
Guardianship
GBP categories
Estate planning attorney
Elder law attorney
Areas we serve:
Eastern Section
Central Section
Western Section
Estates Section
Mott Section
Open Hours
24/7
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