While reverse mortgages may look like no-lose propositions on the surface, they also have some significant downsides. ...Read more
She may be. I’m not sure about New York, but in Massachusetts, where I practice, doing so would only make your mother ineligible for home care benefits for the month in which the transaction occurs. However, it would make your mother ineligible for nursing home benefits for up to five years. You will have to check with a New York elder law attorney to see what the effect would be on New York Medicaid. This would be a good idea in any case before taking out a reverse mortgage so you and your mother understand all of the implications of taking such a step.
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Local Elder Law Attorneys in Ashburn, VA
Margaret A. O’Reilly is an estate planning and elder law attorney with over thirty-five years of legal experience. Attorney O’Reilly graduated from Duke University with a degree in psychology, and received her law degree from Northeastern University School of Law in Boston, Massachusetts. For over 15 y...
Judith Mtinick is well known for acting as a guardian, conservator, trustee or agent on behalf of clients or by court appointment. This experience gives her a wide perspective and extensive practical knowledge that she uses when advising clients in drafting their planning documents. Her experience, as a court appointed...
Medicaid Rules, etc