Elder Law is the practice of law which focuses on planning for the future personal and financial concerns of clients, typically with a focus on Medicaid planning, and includes long term care, retirement, estate and tax planning. As an elder law attorney, our goal is to assist clients in understanding Medicaid eligibility and advise clients in various methods of preservation of their assets. Planning documents such as Revocable Living Trust, Irrevocable Trust, Last Will and Testament, Deed transfer with Life Estate, and Durable Power of Attorney are options which may be utilized by the client.
To assist your attorney in your planning needs, it is necessary to understand the client’s assets and liabilities, how assets are held, that is, individually, jointly, or otherwise, as well as any beneficiary designation of assets. Also, it is important for the client to be aware that there is currently a sixty (60) month or five (5) year look back period for purposes of Medicaid eligibility. It is therefore recommended that asset preservation planning be undertaken by a client prior to attaining “elderly” status.
If you have any questions or would like a free consultation, please call our Riverhead Law Office at 631-727-3904, or contact us here.