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How Much Will Medicaid Planning and Application Cost?
My mother's (second) husband has been back and forth between hospitals and a nursing home for the past month. All of their assets -- home and stocks/bonds/annuities -- are in his name only. We contacted a recommended elder care attorney for the Medicaid application/asset transfer and preservation. I understand it's a rather complicated and time-consuming process. Can you please give me a ballpark figure for these services on Long Island, and also how is the attorney's fee collected, i.e., total upfront, payment in thirds, one half, etc. Thank you!
Attorneys charge differently, so you will have to ask. But most elder law attorneys have moved away from charging by the hour towards a flat-fee model that reflects both the amount of time and the expertise needed to complete the needed work. Medicaid planning and Medicaid applications consist of a mix of elements. The planning piece takes the expertise of an experienced elder law attorney, but may not take considerable time. The application can be time consuming, though most of the work can be completed by an experienced paralegal. My guess is that you will be looking at fees in the $10,000 range.