Taking On All Types Of Elder Law Challenges

According to the New York State Department of Health, the average cost of nursing home care in the Capital Region is more than $110,000 a year. If you or your parent is likely to go to a nursing home in the near future, these costs can drain your life assets within a brief period of time. Medicaid will cover the cost of nursing home care, but it is only available to people who can prove that they own minimal assets. Through careful elder law planning, however, an individual can qualify for Medicaid without having to spend all of their assets on long term care costs. Your home and life savings can be protected. A knowledgeable lawyer will be critical in achieving this goal.

With locations in Latham, Clifton Park and South Florida, attorney Brian H. Bronsther of The Bronsther Law Firm P.C. provides the highest levels of representation and client service.

View our articles page for more information about elder law planning strategies.

Creating Solutions For Long-Term And Crisis Planning

Many people, when faced with the possibility of paying for long-term care, believe they can give all of their property to loved ones and qualify for Medicaid. This strategy will not work. Under the law, the government will look at any gifts or transfers you made in the last five years, and will penalize you for any such gifts.

There are, however, potential strategies that can qualify you for Medicaid without you having to first spend down all of your assets on nursing home care. For instance, certain types of trusts can provide asset protection.

Think of it as putting your assets into a treasure chest with a big lock on it. The lock stops anyone who is trying to get at your assets and preserves them for the future. With this said, not all trusts can help a family preserve some of its assets. Establishing the proper trust and complying with its many requirements is challenging.

Ideally, families handle Medicaid planning well before an individual has a need for nursing home care. This is not always possible, however. If your loved one needs nursing home care immediately, you may still have options. Our attorney will explain what options are available to your family.

Get In Touch Today

Call 518-952-9044 or complete our online contact form to get started. In addition to serving clients across the Capital Region, we have a satellite office in South Florida.