Can A Nursing Home Take Your House if it is in A Trust in New York? - Seth Schlessel

From Schlessel Law PLLC – Can A Nursing Home Take Your House if it is in A Trust in New York? examines the legal and financial intricacies facing New York families when preparing for long-term care. As the costs of elder care in places like Manhattan and Long Island continue to rise, many residents are seeking clarity around the safety of their homes and savings. This podcast explores how estate planning tools such as irrevocable trusts and Medicaid Asset Protection Trusts (MAPTs) may offer protection, and under what conditions.

New York’s five-year Medicaid look-back period is a crucial factor in determining whether your house can be shielded from nursing home costs. Listeners will learn how placing a home in an irrevocable trust, at the right time, can prevent it from being counted as part of your estate for Medicaid eligibility. Attorney Seth Schlessel and his team at Schlessel Law PLLC walk us through the differences between revocable and irrevocable trusts, and why revocable trusts often fail to offer the level of protection families are counting on.

We’ll also cover the escalating costs of long-term care in New York, where annual nursing home expenses can top $150,000, and the various factors—like staff wages, compliance requirements, and quality expectations—that drive these figures. Additionally, the episode explores how special needs trusts, charitable remainder trusts, and irrevocable life insurance trusts (ILITs) can serve different estate planning goals depending on family needs and financial circumstances.

To round out the discussion, the podcast addresses how Medicaid estate recovery works in New York and why post-death claims are often limited to probate assets, making pre-planning essential. With thoughtful insight from the Long Island asset protection attorneys at Schlessel Law PLLC, this episode helps New York residents understand how to protect their homes, qualify for Medicaid, and secure their legacy for the next generation.

Schlessel Law PLLC

34 Willis Ave Suite 300, Mineola, NY 11501, United States

(516) 574-9630

https://www.google.com/maps?cid=7387587768064061142