Archive for category Medicaid Recovery

Life Estates Are No Longer an Effective Tool To Preserve Your Home From Medicaid Recovery

Life Estates are no longer an effective tool to preserve your home from Medicaid. Due to a recent change in the law, Medicaid now has the power to recover part of the value of your home upon your death if you have a life estate. If a life estate was used in your planning to protect the value of your home, then your plan must be reviewed and maybe changed to avoid having New York State to be able to recover a portion of the value of the life estate. There are still effective alternative ways to keep your assets safe from Medicaid Recovery, but you should act now.

If you or a loved one finds themselves in this unfortunate predicament, then stay tuned to the site for further information or call us for a complimentary consultation about your situation.

 

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Have We Seen the End of Life Estates?

Life Estates are no longer an effective tool to preserve your home from Medicaid. Due to a recent change in the law, Medicaid now has the power to recover part of the value of your home upon your death if you have a life estate. If a life estate was used in your planning to protect the value of your home, then your plan must be reviewed and maybe changed to avoid having New York State to be able to recover a portion of the value of the life estate. There are still effective alternative ways to keep your assets safe from Medicaid Recovery, but you should act now.

If you or a loved one finds themselves in this unfortunate predicament, then stay tuned to the site for further information or call us for a complimentary consultation about your situation.

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