Medicaid Planning: Private Annuities
One of the ways our firm assists clients is through Medicaid planning. As part of our Medicaid planning services, we have the ability to create private annuities on behalf of our clients.
A private annuity from one person to another converts an asset into periodic income for Medicaid purposes, thus limiting the asset's exposure to nursing home or Medicaid claims. A nursing home resident's assets must be consumed to pay for care before Medicaid payments are available; conversion to an annuity allows for assets to be released gradually while Medicaid pays a part of the bill.
Why Should I Consider a Private Annuity?
If you enter a nursing home or receive Medicaid assistance, your assets may be subject to government seizure to help fund the Medicaid program. Through the use of careful estate planning and Medicaid planning measures, people have the ability to limit the exposure of their assets to Medicaid claims.
Medicaid planning and other estate planning and elder law issues require the attention of an experienced attorney who understands your individual circumstances. At Francello & Van Benschoten, we take time to listen to our clients, ask questions about their financial circumstances and help them devise comprehensive estate planning and wealth management strategies.
Learn More
We encourage you to learn more about our firm and our legal services. Attorney David Van Benschoten has more than 30 years of estate planning and probate experience. He has helped people throughout the Hudson Valley with a wide range of estate planning, elder law and probate matters.
Contact Us
Francello & Van Benschoten is located in Saugerties, New York. To contact a lawyer at our firm about wills, trusts, tax deferrals and other estate planning or Medicaid planning measures, call 845-247-5356, or contact us by e-mail.
