Medicaid Planning
Anticipating Nursing Home Care
The “golden years” sometimes end too soon when a spouse or elderly parent develops Alzheimer’s or other health issues. The high cost of nursing home care can rapidly deplete the family estate, as Medicaid does not kick in until the assets are all but gone.
However, advance planning can allow for lawful transfer and protection of family wealth while still preserving Medicaid eligibility. The elder law attorneys of Voelkl Law PC, PC, provide long-term care planning and guidance for other legal and financial issues that seniors commonly face.
Our Buffalo law firm assists elderly people and their family members in Erie County and surrounding counties of Western New York. Arrange a consultation today to discuss options in long-range planning or a pressing elder care matter.
Buffalo Elder Law Attorneys
Elder law is an umbrella term for financial, health care and estate-related matters faced by people who are aging. Our knowledgeable attorneys provide comprehensive counsel regarding:
- Wills and living wills
- Nursing home planning
- Powers of attorney
- Guardianship and Article 81 proceedings
- Trusts, asset protection and estate tax planning
- Elder financial abuse
Western New York Medicaid Planning Lawyers
The sooner you start planning for nursing home care, the more options you will have. Even in the early stages of dementia when nursing care is on the horizon, it is often too late to avoid Medicaid spend-down requirements. Medicaid has a five-year look-back on gifts and asset transfers. If you pass property to the next generation improperly within that period, the government can recapture those assets and delay or deny Medicaid nursing home funding.
Don’t give away the family fortune to the nursing home or the government. Our lawyers can provide the advance planning strategies to divest assets or place them in trust while maintaining Medicaid status. We can discuss specific strategies for your unique circumstances. Call Voelkl Law PC at 716-276-0803 or contact us online to schedule a consultation.