Common Misconceptions Part 2
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.
This $14,000 per person per year figure is the current amount that can be gifted without having to file a gift tax return. This rule relates to tax planning and not Medicaid planning. This common misconception can cause people to gift great amounts of money and cause a period of ineligibility for Medicaid coverage.
This is a very costly misunderstanding. Even if a family member is already in a nursing home, there still may be ways to protect assets. At the Koldin Law Center, we offer a no fee consultation to review the possible options. It is never too late. There is something you can do.
Applying for Medicaid is a complex process. When handled improperly, it can cause months of private pay that would have otherwise been covered by Medicaid.
Many people have social workers handle the Medicaid application. Some have private companies who are not lawyers handle this very difficult process. Having somebody assist you in filling out the Medicaid application and having an attorney handling the entire process for you are two very different things.
We may be able to make you eligible for Medicaid at an earlier date, saving your family thousands of dollars. We serve as advocates for our clients and our goal is to obtain Medicaid coverage as quickly as possible while protecting as many of the assets as possible.
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