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What Happens If You Didn’t Plan Properly What happens when you don’t plan properly? Joe Ranni, Esq. of Ranni Law Firm PLLC helps with answers to this and many questions including: What if you have no health care proxy? What happens when you don’t have a power of attorney? Does no proper financial planning lead to Medicaid issues? In […]
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What is Medicaid Spend Down? Do you have questions about Medicaid spend down requirements? Joe Ranni, Esq. of Ranni Law Firm PLLC helps with answers to this and many questions including: How does Medicaid spend down work in NY? What does Medicaid spend down cover? Are IRA in required minimum distribution sheltered from Medicaid spending down in NY? How
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Rights for People with Disabilities Joe Ranni, Esq. of Ranni Law Firm PLLC answers the following questions having to do rights for people with disabilities: Can you tell us the types of disabilities are protected under NYS law? Which type of disability is more vulnerable, physical or mental? Is disability rights similar to civil rights? Does the length
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Why not qualify for Medicaid coverage of nursing home care by simply transferring assets out of your name? Congress does not want you to move into a nursing home on Monday, give all your money to your children (or whomever) on Tuesday, and qualify for Medicaid on Wednesday. So it has imposed restrictions on the
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While most transfers are penalized with a period of Medicaid ineligibility, certain transfers are exempt from this sanction. Even after entering a nursing home, you may transfer any asset to the following without having to wait out a period of Medicaid ineligibility: > Your spouse (but this may not help you become eligible since the
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You may have heard that transferring assets to achieve Medicaid eligibility is a crime. Is this true? No. But what about a professional advising someone to engage in asset transfers for Medicaid planning? That is a crime, at least in the statute books. However, it has been ruled to be an unconstitutional violation of the
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Testamentary trusts are trusts created under a will. The Medicaid rules provide a special ‘safe harbor’ for testamentary trusts created by a deceased spouse for the benefit of a surviving spouse. Unlike a trust created during life for a spouse, the assets of these trusts are treated as available to the Medicaid applicant only to
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Medicaid rules provide for three ‘safe harbor’ trusts that are notable exceptions to the general trust rules. 1 The first, referred to as a ‘(d)(4) (A)’ or ‘pay-back’ trust, must be created by a parent, grandparent, guardian or court for the benefit of a disabled individual under age 65. It may be funded with the disabled
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