Long Island Medicaid planning lawyer Seth Schlessel (https://www.schlessellaw.com/long-island-medicaid-planning-attorney/) of Schlessel Law PLLC has released an informative article about the importance of Medicaid planning. In the article, Schlessel explains the benefits of Medicaid planning and how it can help individuals and families save money on long-term care expenses.
According to the Long Island Medicaid planning lawyer, “Medicaid planning is essential for anyone who wants to protect their assets and ensure that they receive the best possible care in the event of a long-term illness or disability. Medicaid planning involves a variety of legal and financial strategies that can help individuals and families qualify for Medicaid while preserving their assets.”
The Long Island Medicaid planning lawyer goes on to explain that many people are unaware of the benefits of Medicaid planning and often wait until it’s too late to start planning. He encourages individuals and families to start planning early to ensure that they have the best possible options for long-term care.
“Many people assume that they won’t need long-term care until they’re much older, but the reality is that anyone can experience a serious illness or disability at any time,” says the lawyer. “By planning ahead, you can ensure that you’re prepared for whatever the future may hold.”
In the article, attorney Schlessel also discusses some of the common misconceptions about Medicaid planning and addresses some of the most frequently asked questions about the process. He emphasizes that Medicaid planning is a complex process that requires the assistance of a qualified Medicaid planning attorney.
The lawyer further explains that in New York, Medicaid applicants for nursing home care are subject to a 5-year look-back period. This means that Medicaid evaluators examine an applicant’s financial statements for irregularities during a specific duration. The government can evaluate the applicant’s financial statements for any irregularities during this look-back period, which can significantly impact their Medicaid application.
Currently, the look-back period for Community Medicaid applicants in New York is 3 months, but it will be changed to 30 months. Any assets included in or transferred from the applicant’s estate during this specific time will be considered part of their estate.
“If you’re considering Medicaid planning, it’s important to work with an experienced attorney who can guide you through the process and ensure that your plan is tailored to your unique needs and circumstances,” says attorney Schlessel.
Overall, the lawyer’s article provides valuable information and insights for anyone who is considering Medicaid planning. By highlighting the benefits of early planning and addressing common misconceptions, Schlessel offers a valuable resource for individuals and families who want to protect their assets and plan for the future.
About Schlessel Law PLLC
Schlessel Law PLLC is a Long Island-based law firm that specializes in Medicaid planning, estate planning, and elder law. Founded by Long Island Medicaid Planning Lawyer Seth Schlessel, the firm is dedicated to helping individuals and families protect their assets and plan for the future. With extensive experience and a deep commitment to client satisfaction, Schlessel Law PLLC is a trusted resource for anyone who needs legal guidance and support.
About Schlessel Law PLLC
Seth is the Managing Member and Founder of Schlessel Law PLLC. Seth oversees the day-to-day operation of the firm and handles the more complex cases and clients.
Seth graduated from Touro Law School in 2013, where he held numerous leadership positions including being VP of the Sports and Entertainment Society. Seth was admitted to the New York Bar in 2014.
Contact Schlessel Law PLLC
34 Willis Ave Suite 300