Listen to Lawrence: Answers to your questions
Dear clients and friends,
I join all of you in mourning the deaths of so many around us from the Coronavirus. People ask me if I knew anyone that died? The answer is yes, many. Fortunately, my immediate family and friends remain healthy, but my heart goes out to my clients and friends that have lost many. As an Elder Law, Special Needs and Estate Planning attorney, I am in a unique position to know many people who are vulnerable to the disease due to their age and/or disability, especially our many clients residing in nursing homes, which seems to be “ground zero” for this disease. I am receiving calls on a daily basis with the news that someone is sick or has recently died. Just know that I am hurting for you, along with my partners and staff but feel privileged knowing that you have confidence to turn to us in these challenging times. I hope these emails keep us connected. We will get through this together!
Let me now turn to one of your questions:
I assume this new look back only applies to new applicants for Medicaid home care applications? Please comment.
This question is in response to a previous email that warned that effective October 1st, there would now be a 2 1/2 year look back for home care Medicaid applications . Currently, there is no look back. The good news is that if you have already applied for Medicaid, or if you apply for Medicaid before October 1st, you will not be subject to the new look back. That means you can transfer all your assets out of your name today and be eligible for home care or “Community Medicaid” tomorrow, saving all of your assets. This will no longer be true for applications starting on or after October 1st. If you know someone who is at home and needs help, apply today, or at least before October 1st . If you can’t apply now, then talk to us about the best way to get your 2 1/2 year look back over with, perhaps with an Irrevocable Trust.
I hope this helps.
Please pass this information on to your family and friends and continue to keep your questions coming! If you are thinking about it, others are probably thinking about it too, so my answers will no doubt help you and many others. Let’s stay connected.
LISTEN TO LAWRENCE!