Rochester Elder Law Attorney Discusses Emergency Medicaid Planning and the Importance of Promissory Notes

  • For people that never did any planning for Medicaid, there is still what’s known as emergency Medicaid planning.
  • This is done when someone is already in a nursing home and about to apply for Medicaid.
  • You’re not giving up any powers or any rights by signing a power of attorney.
  • Powers of attorney also automatically cease upon death, so the agent no longer has access to your bank accounts as soon as they find out about the death
  • You can give away half your assets and use the other half for your nursing home care by using a promissory note.

This educational legal video was brought to you by Robert Friedman, an experienced Rochester Elder Law Attorney.