Medicaid has stringent rules for eligibility in Rochester, and individuals and couples are well advised to begin Medicaid planning well in advance of any need they may have.
Regardless of when you begin the process though, some assets are protected, or exempt, when it comes to determining net worth and income for the purposes of Medicaid.
A home with an equity value of less than $786,000 is one example, as are certain retirement accounts.
Many people planning for retirement will have an income well above Medicaid’s threshold, but if a need like nursing home care arises, the costs can quickly wipe out your hard earned savings.
The estate planning attorneys at Friedman & Ranzenhofer can help you structure your wealth in a way that preserves your legacy and protects your family.
Call us today at 585-484-7432 and speak to an experienced Rochester Medicaid planning attorney for free.
Recent Posts
Facts About Workplace Violence
How safe is your company? Here are some facts about workplace violence that will make [...]
In Planning For Medicaid, What Assets Are Considered Exempt In Rochester?
Medicaid has stringent rules for eligibility in Rochester, and individuals and couples are well advised [...]
What Happens If A Young Driver Violates The Zero Tolerance Law A Second Time In Rochester?
Rochester area drivers under the age of twenty-one are not supposed to drive after having [...]
What Is The New York State Assigned Risk Program?
A Rochester driver arrested for DWI or driving under the influence of drugs faces many [...]
What Does The Court Consider When Deciding To Issue A Hardship License?
A Rochester driver who is arrested for DWI and took a breath test will, in [...]
What Are The Penalties For Circumvention Of An Interlock Device?
A Rochester DWI defendant who is required to use an ignition interlock device and attempts [...]
What Is Circumvention Of An Interlock Device?
New York’s requirement that defendants convicted of DWI have an ignition interlock device installed on [...]
What Is The Difference Between A Driver’s License Suspension And A Revocation?
All Rochester drivers convicted of a drug or alcohol related driving offense will find their [...]