In Planning For Medicaid, What Assets Are Considered Exempt In Buffalo?

Medicaid has stringent rules for eligibility in Buffalo, 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 716-542-5444 and speak to an experienced Buffalo Medicaid planning attorney for free.

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