Entries by CNY Elder Law

Eight Mistakes Made When Qualifying for Medicaid

When the time comes to qualifying for Medicaid there are many common mistakes. Knowing the medicaid mistakes to look out for is going make the process easier and much less stressful for you. Here are the top 8 mistakes people make with it comes to medicaid qualification: 1. IGNORING THE NEED TO PLAN WILL MAKE […]

Important Medicaid Numbers

IMPORTANT POINTS TO REMEMBER ABOUT MEDICAID NUMBERS :The Community Spouse (CS) Resource Allowance is calculated based on the value of the couple’s resources on the date Institutionalized Spouse (IS) becomes a permanent nursing home resident. (Example: Mr. Doe becomes a permanent nursing home resident (Example: Mr. Doe becomes a permanent nursing home resident on January 1, 2013. The […]

Medicaid Eligibility

Frequently Asked Questions About Medicaid Eligibility Do I have to give away everything I own to receive Medicaid? Medicaid eligibility allows for a maximum of $14,4000 in countable assets. The trick is to learn which resources are countable assets and which are exempt assets. The Medicaid planning process may allow you to convert your Countable […]

Supplemental Needs Trust FAQs

Q. What is the Supplemental Needs Trust? A supplemental Needs Trust (SNT) is a Trust authorized by federal and state statutes specifically for a “disabled” beneficiary who is receiving or eligible for means tested public benefits. Q. What is a Trust? A Trust is an agreement involving three parties, Grantor, Beneficiary and Trustee. The Grantor creates […]

Planning for Long-Term Care

What can be done to plan for long-term care, ensure that a health crisis or chronic illness will not erode an individual’s security and dignity, and provide for family and loved ones? As you might suspect, the answer is not simple. A careful analysis of each individual’s personal and financial situation must be done to formulate […]

So, You’ve Been Appointed Trustee of a Trust?

Whether it’s an honor or a burden (or both), you have been appointed trustee of a trust. What responsibilities have been thrust upon you? How can you successfully carry them out? Do read the trust document. It sets out the rules under which you will operate, so you need to understand it completely. Do create […]