September 2018 Archives

College savings may affect Medicaid eligibility

Many New York residents have savings goals they want to achieve. For instance, individuals who want to attend a certain college or who want to help their loved ones attend college may have an account set up to accumulate funds for that purpose. However, some concerns regarding those funds may come about if a person ends up in need of Medicaid.

Parents of special needs kids can benefit from estate planning

It is common for people to think that having an estate plan is a good idea but to also think that they can put off planning until later. For some, thinking about getting started may lead to feelings of anxiety, and they may easily become overwhelmed, especially if they have children with special needs. However, estate planning does not have to be as intimidating as many people consider it to be.

Living will is an important care-related document

Estate planning can help New York residents determine how they want their assets distributed after death, and it can also help them plan for care that may be needed while still alive. Various documents can help with care planning, but it can be confusing to know which documents may be needed. In particular, parties may wonder about the difference between a living will and a health care proxy.

How does a Medicaid spend-down work?

The costs associated with long-term care often leave people reeling. Though you or a loved one may need extended care from professionals, you may struggle to pay the bills associated with the attention and treatment needed. As a result, you may want to take the time to plan ahead before that time comes.

Steps may need to be taken to obtain assistance through Medicaid

Many parts of New York residents' lives revolve around their finances. Even if money is not the direct issue, a problem could arise that may result in expenses that will need addressing. In particular, older people may be at risk of suffering health issues that could result in the need for financial assistance through Medicaid.

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