Press release
Long Island Medicaid Planning Attorney Seth Schlessel Offers Guidance on Protecting Assets from Nursing Home Costs
Long Island Medicaid planning attorney Seth Schlessel explains that nursing home care in New York can exceed $176,000 annually, placing a heavy burden on families without sufficient legal planning. Medicaid may cover most of the cost, but income and asset limits must be met before assistance is granted. Long Island Medicaid planning attorney Seth Schlessel works with individuals to evaluate countable and exempt resources, including homes, savings, and retirement accounts, ensuring that asset protection strategies align with current laws.
Many families are unaware that improper asset transfers or delayed action can lead to disqualification from Medicaid. Long Island Medicaid planning attorney Seth Schlessel outlines common risks, such as violating the five-year Medicaid look-back period or misusing income after entering a facility. "Careful planning now can help you preserve more of your assets while ensuring you can access the care you may need in the future," states Seth Schlessel, highlighting the urgency of early legal action.
When a person enters a nursing home in New York, Medicaid rules shift. Pooled-income trusts, once used to qualify under Community Medicaid, no longer apply. Institutional budgeting rules take effect, and nearly all income, except a small personal needs allowance, must be paid to the facility. Seth Schlessel addresses this transition and reviews financial records to prepare families for the change.
Nursing homes do not directly take property or savings, but unpaid bills can result in lawsuits, court judgments, and even liens. Medicaid Estate Recovery may also attempt to reclaim costs from an estate after death. Seth Schlessel helps clients avoid these outcomes by applying legal tools such as irrevocable trusts, annuities, and exempt transfers, in compliance with New York regulations.
Asset protection strategies are most effective when implemented before a crisis. Seth Schlessel advises that selling a home or making gifts without proper planning can jeopardize Medicaid eligibility. By creating trusts and using structured annuities, families can preserve inheritance goals and reduce exposure to long-term care expenses. Timing and documentation are critical in these transactions.
Seth Schlessel founded Schlessel Law PLLC to serve the Medicaid planning needs of Long Island families. A graduate of Touro Law School and member of the New York Bar since 2014, Seth Schlessel leads the firm with a focus on practical solutions that comply with Medicaid law. All legal matters are handled with personal attention, ensuring strategies are both legally sound and aligned with family goals.
Long Island residents facing nursing home decisions must consider how financial actions today affect care options and family resources tomorrow. Seth Schlessel evaluates each situation, clarifies eligibility rules, and recommends a step-by-step approach tailored to individual circumstances. From preserving homes to managing retirement distributions, every strategy follows the strict requirements of Medicaid law.
Waiting too long to address long-term care planning can result in depleted savings, delayed eligibility, and legal penalties. Schlessel Law PLLC supports families in building secure plans that protect their future while remaining compliant with all Medicaid rules. Seth Schlessel remains committed to guiding New Yorkers through the financial realities of aging with clear and effective planning.
About Schlessel Law PLLC:
Schlessel Law PLLC is a Medicaid planning and elder law firm based in Long Island, New York. Led by Long Island Medicaid planning attorney Seth Schlessel, the firm provides legal guidance to individuals and families preparing for the high cost of nursing home care. The firm focuses on protecting assets, ensuring Medicaid eligibility, and helping clients achieve long-term financial security.
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Email: seth@schlessellaw.com
Website: http://www.schlessellaw.com/
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Company Name: Schlessel Law PLLC
Contact Person: Seth Schlessel
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=long-island-medicaid-planning-attorney-seth-schlessel-offers-guidance-on-protecting-assets-from-nursing-home-costs]
Phone: (516) 574-9630
Address:34 Willis Ave Suite 300
City: Mineola
State: New York 11501
Country: United States
Website: https://www.schlessellaw.com/
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