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Last Login: 11/21/2008 2:48:45 PM
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| What is a reasonable range for the cost of estate planning by an eldercare attorney to include the medicaid research and application process, penalty calculation and the establishment of two trusts; one to fund the medicaid penalty and the other for the remaining of the gifted amount?
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Last Login: 5/27/2008 11:04:45 PM
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The cost can range considerably depending on the part of the country, the difficulty of the state Medicaid agency and the specifics of the situation. But I would expect the range of fees to be between $8,000 and $15,000. What were you quoted?
Harry S. Margolis
ElderLawAnswers
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Forum Newbie
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| The price quoted was a flat fee of $15,000. This is in New York state and involves assets of cash (CD's), US Savings Bonds, and LIfe insurance with cash surrender values. All will be gifted and two trusts will be set up, one to pay the Medicaid Penalty period and the remaining amount in trust to be distributed to two upon death. Does the high end seem appropriate given the above?
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Forum Newbie
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| Please respond to my answer to this response which i posted with the additional information which you did have at the time of your reply. I need to make a decision to proceed or not and would value your opinion the amount. Thank you very much for your consideration.
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Last Login: 9/20/2008 4:31:30 AM
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| I my experience, fees are based on the ability to perform the work. so what may seem like a highend fee, may barely be a breakeven point given the work involved. I can assure you that at $15k in NY you are probably in the middle.
Mark John Crews
Strategic C.A.R.E. Planning(C)
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