Elder Law Firm Serving Greater NYC

Each generation in the United States lives longer than the one that came before. In response to a growing number of older citizens, the specifics of New York elder law address issues that primarily affect seniors—whether they live in Manhattan, the Bronx, Westchester County, or anywhere else in the state.

Trusts

As you age, it may benefit you to move some of your assets into a trust for the benefit of your children and grandchildren. Depositing assets into trusts can sometimes allow you to continue enjoying the use of the asset while ensuring it remains in the control of your family for generations.

Additionally, moving an asset into a trust early enough in your life may help to avoid estate taxes on the asset after your passing. You may even eliminate gift taxes if you do so while the asset has little value.

With more than 30 years of experience practicing law, Cormac McEnery knows how to help ensure that your trust is properly crafted and administered. His elder law firm is prepared to advise you on the tax implications of trust transfers, and can also help you prepare the trust agreement that preserves your assets for future generations.

Guardianships

Guardianships are made up of two types: guardians of the person and guardians of the property. Each guardian controls a different aspect of the life of an individual:

• The guardian of the property controls and manipulates the assets of someone who is no longer able to do so on his or her own.
• The guardian of the person is responsible for the physical well-being of an individual.

Both guardians serve important purposes and should seek the advice and guidance of a knowledgeable attorney at an elder law firm.

Medicaid

One important area of the law an elder law firm deals with is Medicaid. To qualify for Medicaid, an individual must meet certain income and net worth standards. These standards require a recipient to have substantially depleted all of his or her assets before applying for Medicaid.

Even if a person transfers all of his or her assets to family members before applying, he or she may remain ineligible for a period of time. This ineligibility period is a result of the look-back period that Medicaid applies to determine how long ago the individual became qualified for the program.

When considering applying for Medicaid in Manhattan, the Bronx, or Westchester County, you should contact an experienced elder law firm. Cormac McEnery has the legal acumen and knowledge needed to analyze your assets and determine which can be transferred without affecting the look-back period. He can also help you to prepare your application for the program to ensure your success.

Contact our elder law firm

We serve clients from New York City (Manhattan, Bronx, Brooklyn, Queens), Westchester, and Nassau and Suffolk Counties. To set up a free legal consultation with our elder law firm, contact Cormac McEnerney at 1-888-368-4329.