Helping Clients Plan for Long-term Care
Makofsky Valente Law Group, P.C. has nearly 30 years of experience in long-term care planning. We help clients receive Medicaid benefits to pay for care while employing strategies that let them protect their assets for their spouses without spending down all of their money on health care costs.
Hope for the Best, but Prepare for the Worst
Every day, accidents, medical emergencies, and the normal aging process cause individuals to become unable to care for themselves or make rational decisions. By planning ahead you can reduce the expense, confusion, and turmoil faced by your family and those charged with caring for you. Some options include:
- Durable Power of Attorney: By designating an agent in a durable power of attorney you decide who you want to make decisions about your finances and long-term care planning in the event that you become unable to do so yourself. Often, spouses appoint the other spouse as their agent. If you have not designated an agent in a durable power of attorney and you become unable to make financial decisions, you may need to establish a guardianship through a court proceeding. The guardianship process is more expensive, time consuming and has uncertain results.
- Health Care Proxy: A health care proxy is a document that designates a person to make health care decisions for you should you become unable to do so yourself. You might also want to execute a “living will” in addition to the health care proxy.
Many Options Are Available to Pay for Care
No matter how close you are to needing long-term care, we generally can take steps to help you preserve your assets.
You can defray the costs of a nursing home stay by applying for Medicaid benefits. You may be able to position your assets so that you are eligible to receive Medicaid without having to spend down all of your assets and you may be able to protect your assets from estate recovery.
In addition, you can protect your home from Medicaid liens by using tools such as trusts and deed transfers. You may also wish to purchase long term care insurance.
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*Certified by the National Elder Law Foundation.
The National Elder Law Foundation is not affiliated with any governmental authority. Certification is not a requirement for the practice of law in the State of New York and does not necessarily indicate greater competence than other attorneys experienced in this field of law.
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LOCATED IN GARDEN CITY, NEW YORK, Makofsky Valente Law Group, P.C. (formerly Makofsky Law Group, P.C. formerly Makofsky & Associates, P.C. formerly Raskin & Makofsky, LLP) HAS SERVED CLIENTS IN AREAS INCLUDING LONG ISLAND, NEW YORK CITY, MANHATTAN, QUEENS, BROOKLYN, BRONX, WHITE PLAINS, MINEOLA, HEMPSTEAD, LEVITTOWN, MASSAPEQUA, BETHPAGE, SYOSSET, OYSTER BAY, GLEN COVE, PORT WASHINGTON, MANHASSET, GREAT NECK, WOODMERE, VALLEY STREAM, ELMONT, FLORAL PARK, FLUSHING, KEW GARDENS AND FOREST HILLS, NEW HYDE PARK, EAST MEADOW, PLAINVIEW, Merrick, Westbury, Long Beach, Oceanside, Franklin Square, Huntington and Rockville Centre.
Attorney Advertising: Information contained in this website may be considered attorney advertising. The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.
*Certified as an Elder Law Attorney by the National Elder Law Foundation as approved by the American Bar Association. Certification is not required for the practice of law in the State of New York.