Common Misconceptions Part 1
The Koldin Law Center, P.C. is excited to announce that our website has been completely revised. Please check www.koldin.com to see what we have done!
This edition of the Koldin Report E-Newsletter is Part 1 of a series about common misconceptions about Elder Law, Estate Planning and Medicaid.
The attorneys at the Koldin Law Center meet with clients every day. We have seen a pattern of misconceptions and misunderstandings that can have catastrophic effects on families. The following is a list of some of the most common misunderstandings that clients present to our office.
Medicare only covers a short-term stay in a nursing home for therapy and rehabilitation.
Medicaid will deem the cash value of the life insurance policy an available resource for Medicaid purposes.
There are very specific Medicaid rules relating to retirement accounts that do not require the retirement accounts to be liquidated and spent down to the resource level. Far too often, people are cashing in and spending down all of their retirement accounts unnecessarily. It is important to know all of the rules to preserve your retirement accounts.
Many people have excellent policies that may cover a substantial portion of nursing home costs, but we have seen many clients with policies that will only cover a small part of the costs. It is important to review the actual terms of the policy and explore other options that may be available.
At the Koldin Law Center, P.C., located in East Syracuse, New York, we have over 50 years of experience helping individuals plan for immediate crisis and long term care. Our attorneys are available to discuss your estate planning options, including the advantages and disadvantages of Revocable Trusts and Irrevocable Trusts, along with other estate planning considerations including a Will, Power of Attorney, and Health Care Proxy. We do not charge a fee for the initial consultation. We welcome your children, family attorney, accountant, and/or financial planner to be present at the initial consultation.
There is something you can do.
Our Attorneys are available to speak to your organization
Our Attorneys speak to groups throughout New York State as a public service. If you would like to arrange for one of our Attorneys to speak to your group, please contact our office.
We appreciate your referrals
We have been told by many clients who are in a crisis that they wish they had known about our firm much sooner. We are proud of the many families we have helped in times of crisis.
We are also proud of the many families we helped avoid financial crisis by doing estate planning in advance.
We all share the responsibility for making our family and friends aware of the planning options available to them.
Your referral to the Koldin Law Center could make a major difference in the lives of your family and friends if they are someday faced with a long term illness.
Remember that the Koldin Law Center offers many services for clients of all ages. Our services range from basic estate planning such as a simple will to complex estate planning including asset preservation planning.
THERE IS NO FEE FOR THE INITIAL CONSULTATION