Long Island Elder Law Attorney Seth Schlessel Explains Long-Term Medicaid Planning
Long Island elder law attorney Seth Schlessel releases a new article (https://www.schlessellaw.com/long-island-elder-law-attorney/) explaining New York’s Long-term Medicaid Planning. The lawyer mentions that New Yorkers over 65 often have unique legal needs which can be best addressed by an elder law attorney. These legal needs include asset protection, counseling, and qualifying for Medicaid for nursing home care.
“These difficult decisions are often emotionally challenging. However, they are essential to safeguard yourself and everything you've worked so hard for. If you don't plan well, you might have to sell your assets to help pay for your nursing home care,” says the Long Island elder law attorney.
The lawyer explains that a lot of people do not think that they will need to be put in a nursing facility. However, more and more New Yorkers find this reality as they age into their 80s. The median annual cost for a semi-private room in a nursing facility in New York is around $145,000. This includes Long Island.
Attorney Seth Schlessel says that Medicare and private insurance usually won't cover nursing home stays for long periods. While some families are able to cover the costs of nursing homes or invest in long-term insurance, other families will have to use Medicaid. This can mean that assets that were not transferred at market value within the five preceding years may make the person ineligible for Medicaid.
In the article, attorney Seth Schlessel adds that estate planning is an important part of protecting the legacy of a person. A comprehensive estate plan may help a person decide where their assets should go as well as plan their loved one's caretaker once they pass away. An estate plan may help ensure that the client’s future, their loved ones, and their assets are cared for.
According to the estate planning lawyer, “The main difference between elder law and general estate planning is that elder law deals with seniors in the implementation of estate plans. This includes long-term care and incapacity as well as wealth transfer at death. Elder law lawyers can assist clients with Medicare, Medicaid, and Guardianship issues. These are particularly important for seniors as they age.”
Lastly, attorney Schlessel emphasizes that having an elder law attorney in Nassau County or Suffolk county is important when facing elder law matters. A skilled lawyer may be able to help the client save money while also planning their future in an efficient manner.
About Schlessel Law PLLC
Seth Schlessel is the founder of Schlessel Law PLLC. As a skilled estate planning attorney, Mr. Schlessel understands the importance of a comprehensive estate plan to a family’s future. He and his team have helped many families preserve their assets and ensure that a person’s wishes are carried out the way they want. Aside from estate planning, the firm also helps with elder law, personal injury law, and startup/corporate law. Contact them today to learn more about their services.
For more information about Schlessel Law PLLC, contact the company here:
Schlessel Law PLLC
Schlessel Law PLLC
34 Willis Ave Suite 300, Mineola, NY 11501, United States