Elder Law Attorney
Contact
Address:
2899 Ocean Avenue, 2nd Floor, suite 4 Brooklyn, NY 11235
Phone:
718-313-1347
Website URL:
http://morganlegalny.com/elder-law
About US
For many people, the best choice for long-term care costs involves setting up a Pooled Income Trust.
Open to people of any age, it allows them to become financially eligible for insurance programs such as
Medicaid, while at the same time preserving their monthly income in a trust to cover living expenses
and other needs. By taking advantage of this option, a person can obtain Medicaid home care services
for their long-term care needs, while continuing to have the money available to support themselves
while at home. A variety of people can greatly benefit from establishing a pooled income trust, including
recipients of personal injury settlements, elderly people who are ill and living at home, younger people
who have special needs, and people who are applying for or already receiving government benefits.
When a person has to move into a nursing home, they are required to divest themselves of their assets
in order to pay for their care. However, by placing their assets into an Irrevocable Trust, the assets can
be protected from high nursing home bills. However, it’s important to remember that this type of
transfer must be done at least five years before a person goes into a nursing home.
While thinking about the difficulties one may face as they age is difficult, failing to do so can lead to
financial problems that can devastate an entire family. Rather than allow this to happen, it’s best to
contact a New York Elder Law attorney as early as possible to make arrangements that will be
satisfactory to everyone involved. By doing so, a family can gain peace of mind, knowing their financial
and long-term care needs will be met.
Related Searches
Guardianship Law Attorney | Elder Law Attorney | Probate Lawyer | Will Preparation Lawyer | Asset
Management And Protection | Estate Planning Lawyer | Irrevocable Trust | Living Will Lawyer | Trust
Law Attorney | Last Will And Testament Lawyer | Brooklyn | NY
Additional Details
Hours: 24h
Payment: cash, all credit cards, check
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