Planning for Long-Term Care
An estate planning lawyer from our firm can help you understand the array of options and issues that you or your family member will face when planning for long-term care, including how to manage care to address chronic illnesses, disabilities, and self-care difficulties that arise with advanced age. The average annual cost of living in an elder care facility in New York State is currently between $135,000 and $200,000. Health insurance and Medicare will cover a very limited portion, but not all of those costs.
Our elder care attorneys will analyze your options for handling these costs and provide straightforward and clear guidance on the optimal coordination of benefits from Medicare, self-insurance, private insurance, Medicaid, and other sources. Additionally, our services cover tax planning and trust and estate matters, including the use of Medicaid Asset Protection Trusts (“MAPTs”) and Revocable Trusts to preserve assets for long-term care and future generations. We also advise our elderly clients on alternatives to trust planning, including the benefits that may be available through private long-term care insurance.
Consult with an elder law lawyer before you apply for Medicaid benefits
Medicaid may be the only available option to pay elder care expenses when an older person does not have other income or resources or any private long-term insurance. The Medicaid income and resource limits and rules regarding transfers of assets, however, can be difficult to comprehend and, if not properly navigated, can result in an erosion in the value of an individual’s estate. Our elder care planning attorneys help our clients qualify for Medicaid recipients to maximize their benefits and to retain as much of their estate assets as may be allowed under applicable federal and state rules.
New York elder care planning lawyer
The elder law attorneys at Pierro, Connor, & Strauss, LLC have offices in the Capital Region to serve clients and their families in Albany, Schenectady, Rensselaer, Saratoga, Columbia, and Greene Counties, as well as in our New York City office in Manhattan, Long Island, Hudson, Lake Placid and other locations in New York State. Please call our offices to schedule a free consultation with one of our Albany elder care planning attorneys.
We give all of our elderly clients and their families the respect and sensitivity that they deserve with state-of-the-art legal planning that enables them to age with dignity and affordable, quality care.