by Bonnie Kraham, Esq. Most of us don’t want to end our days in a nursing home, and would rather “age in place,” so it’s important to become familiar with available home health care services. There are three major ways to pay for home health care: self-pay, long-term care insurance,…
by Bonnie Kraham, Esq. Family members overwhelmingly provide the care for elderly and disabled loved ones at home. Although a labor of love, taking care of ailing loved ones also has a market value, meaning that caretakers can be paid as a way to protect assets. Through the use of…
by Michael Ettinger, Esq. Long-term care insurance (LTCI) and the Medicaid Asset Protection Trust (MAPT) are often thought of an alternatives to each other. They are not. While LTCI is both a shield and a sword, the MAPT is a shield only. LTCI protects your assets and income from the…
by Michael Ettinger, Esq. Medicaid annuities have been a viable planning option for New York spouses since The Deficit Reduction Act of 2005. Say you have a spouse who needs nursing home care (the “institutionalized spouse”) but you have more assets than the Medicaid law allows you, the spouse at…
by Michael Ettinger, Attorney at Law The Medicaid Asset Protection Trust (MAPT) is a technique commonly used by elder law attorneys. It consists of an irrevocable trust, usually set up by a parent of parents sixty-five and older. One or more of the adult children are named as “trustees” to…