Can a Life Estate Deed Shield My Home From Medicaid in New York? - Seth Schlessel

From Schlessel Law PLLC – Can a Life Estate Deed Shield My Home From Medicaid in New York? explores how strategic estate planning can protect your home while meeting Medicaid requirements. This episode dives into the legal framework behind life estate deeds, revealing how transferring a property title while retaining lifetime use can become a powerful tool in safeguarding assets. Listeners will discover how this planning strategy works within the unique laws of New York.

We’ll guide you through the key roles in a life estate deed—the grantor, also known as the life tenant, and the remainderman—and how these parties share rights and responsibilities. You’ll hear how attorney Seth Schlessel and his team at Schlessel Law PLLC help families on Long Island preserve their homes and plan for future generations while staying compliant with Medicaid’s complex look‑back period.

In addition, we break down differences between life estate deeds, fee simple deeds, and revocable living trusts, and examine why life estate planning is often chosen in Medicaid and elder law contexts. From STAR and Veteran tax exemptions to estate recovery risks, each topic is unpacked with practical scenarios relevant to homeowners across New York.

Finally, we offer insight into challenges such as selling a life estate property, potential tax implications for heirs, and the importance of properly reporting life estate interests on Medicaid applications. Tune in for actionable guidance and a deeper understanding of how a life estate deed can secure your legacy while protecting your home from Medicaid recovery in New York.

Schlessel Law PLLC

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(516) 574-9630

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