On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Feb 27, 2020 | Medicaid Planning
The kind of gifts that you’re permitted to provide each year according to tax law is very different than what is allowed under Medicaid. For an older or disabled person, Medicaid places some restrictions on how much money you can give, even to your children or heirs....
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Dec 26, 2017 | Medicaid Planning
Aging New Yorkers may have significant concerns about how to protect their assets that come hand in hand with planning for their medical futures. When older people are considering or need to access the long-term care provisions of Medicaid, including nursing homes and...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Dec 11, 2017 | Medicaid Planning
While Medicare may provide many services to New York residents, it will generally not pay for care in a nursing facility. This is important because as many as 70 percent of people aged 65 and older may eventually need such care. Whether or not Medicare will pay for a...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 31, 2017 | Medicaid Planning
New York Medicaid beneficiaries might be aware of the 21st Century Cures Act (CCA), which came into effect on Jan. 1. The law changes the wording of the Omnibus Budget Reconciliation Act of 1993, which was written to exclude people with disabilities from creating...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | May 2, 2017 | Medicaid Planning
Many aging New York residents are concerned about retirement planning. In addition to funding accounts and making arrangements to live out retirement in a comfortable community, the possibility of needing long-term care also presents significant issues. While people...
by McMahon Law Firm, Attorneys and Counselors at Law | Feb 17, 2017 | Medicaid Planning
Many elderly New Yorkers reside in nursing homes, and many of those who do rely on Medicaid to cover all or a portion of the costs. The Medicaid program is funded by both the federal and state government, and there are strict financial tests in place that determine...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Oct 5, 2016 | Medicaid Planning
Estate planning can be so much more than just drafting a will. Your estate plan is a way for you to manage your assets so that you and your loved ones are taken care of up until your passing. One part of estate planning that can sometimes get overlooked by...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jan 4, 2016 | Medicaid Planning
Many New Yorkers who are nearing retirement age begin thinking about what they will do in the event they eventually need nursing home care. One aspect of planning for this major expense involves Medicaid planning. This includes a consideration of what they will need...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Mar 12, 2015 | Medicaid Planning
Seniors in New York often depend on Medicare for their health care needs. Medicare benefits, however, are limited if a person needs to enter a nursing home. Only a set number of days are allowed through Medicare to recover from a surgery or illness in a skilled...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Dec 29, 2014 | Medicaid Planning
Many elderly people living in New York and who require long-term care would prefer to stay in their own home. While making a decision about whether or not staying at home is feasible, there are some important things to think about. A person may want to consider the...
