Q: How can I protect assets from nursing home costs in NY?
A: Strategies include Medicaid Asset Protection Trusts, exempt transfers, and restructuring resources. These must follow Medicaid’s 5-year lookback period.
Q: What is the Medicaid 5-year lookback for nursing homes?
A: Medicaid reviews five years of financial transactions for improper transfers. Penalties can delay eligibility.
Q: What is a Special Needs Trust (SNT)?
A: An SNT protects assets while preserving eligibility for benefits such as Medicaid or SSI.
*Manhattan and Long Island Offices, scheduled by appointment.
