After many years of hard work, sacrifice and saving for a successful financial future, most people look forward to an easy and stress-free retirement. However, many people do not consider the probability of needing costly long-term care, including needing to reside in a nursing home. According to the AARP, approximately 70% of Americans will need some type of long-term care, and nursing homes in New York cost around $12,000-$14,000 per month. Most people cannot afford over $150,000 per year per person. Worse yet is that so many never saw this expense coming and therefore suffer financial destruction.
There are very complicated rules about what assets can be protected, when, and how. One wrong move can jeopardize everything that you have. The law is also evolving and updates must be understood. Many people either have no idea, or wrong ideas, about what they should do to ensure that what they have stays with them and their heirs. The laws governing Medicaid-asset protection, the interplay with the 5-year look-back penalty period, and various exceptions to the rules requires an attorney with sophistication. Mr. Seidner teaches other attorneys.
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Whether you are facing an immediate need for long-term care or preparing for your future in advance of a life changing event, the New York Asset Protection attorneys and staff at the Law Offices of Seidner & Associates, PC can evaluate your needs in order to create a customized plan. We utilize specific trusts and other methods to protect your assets from being drained in the event you or a loved one might need such care. With our help, there can be comfort in knowing that the assets you have earned through years of hard work will be protected when you need government benefits. Then you can truly focus on enjoying a stress-free and fun retirement.