The Social Security Administration has two programs under which a person with a disability can receive a monthly check to help with the cost of their living expenses. One such program and form of disability payment is called Social Security Income (SSI) and the other is known as Social Security Disability Income (SSDI). Often, people … Read More
Update! Medicaid Community Care Lookback Further Delayed
October 2022 Update Update on the Community Medicaid Lookback! New York State Department of Health has announced that it will not be implementing the Community Medicaid 30-month lookback earlier than March 31, 2024. In alignment with the requirements under the American Rescue Plan Act relating to Home and Community Based Services, as well as the … Read More
Dealing with an Estranged Child in Your Estate Plan
Dealing with an Estranged Child in Estate Plan Under New York State law, a child is a default beneficiary of a deceased person’s estate. However, as long as you have mental capacity, you can create an estate plan directing the distribution of your estate to whomever you wish. Cutting your child off in your will … Read More
Upon the Death of a Parent of a Child with Special Needs
While unpleasant to think about, avoiding this topic will be much more unpleasant to deal with in the long run. Parents are often the bedrock and support of children well into their adult years. The death of a parent irrespective of a child’s age can be painful and difficult. The death of a parent is … Read More
What is the difference between a Medicaid Asset Protection Trust and a Pooled Income Trust?
Medicaid has strict limits on the amount of money a Medicaid applicant and his or her spouse can have (resource limit) in order to qualify for Medicaid long term care benefits, as well as specific income limits while receiving services. (See Medicaid Eligibility Limits for specific figures.) In New York State, Medicaid Asset Protection Trusts … Read More
Don’t Make This Costly Mistake: Transferring Your Home To Kids During Your Lifetime May Not Be A Good Idea
It’s not uncommon for parents to think about transferring assets, specifically their home, to their children in their sunset years. They hope to make the transition of assets smooth and easy for their children after their lifetime. Specifically, when there is more than one child, and a parent only wants one of their children to … Read More
Nassau County Votes to Eliminate Property Verification Fee
The cost of protecting your home may become a bit more affordable in Nassau County. On Friday, October 1, 2021, the Nassau County legislature voted to eliminate $106 million in real estate and traffic fees. The fees to be eliminated includes the hefty $355 fee for each “tax map verification” letter required by the county … Read More
Transfer Beware. Transferring Assets to Qualify for Community Medicaid Services is Not So Simple After All.
In order to qualify for Medicaid Home Care or Assisted Livings Services, known as “Community Based Services”, a person cannot have non-exempt assets (or “resources”) greater than a specific dollar amount. In New York, for 2021 the resource limit is $15,900. Until the Community Medicaid lookback is implemented (expected to be April 2022 or even … Read More
