Can I Gift My Assets to Qualify for Medicaid in New York? The Answer May Surprise You
Tracy R. Field2024-03-01T12:31:36-05:00As the cost of long-term care in New York City continues to increase, understanding Medicaid eligibility becomes crucial for residents who wish to plan for future healthcare costs and needs. Many people believe they must deplete their assets and savings before they can qualify for Medicaid coverage, especially when they need long-term nursing home care. You may have heard the idea of giving away your assets to family members floated as a potential solution. But does this really work? This strategy can be more complex and nuanced than [...]