The Law Offices of Roman Aminov has been providing NYC residents with award-winning Medicaid planning and elder law services tailored to our clients' needs.
By Roman Aminov,
Celebrated for extensive experience helping New York families protect their assets, secure Medicaid eligibility, and plan for long-term care with confidence, with hundreds of heartfelt client testimonials, Roman Aminov delivers thoughtful, individualized solutions to our clients' needs and wishes.
Why New York Families Need a Medicaid Plan Before They Need Medicaid
Long-term care in New York is extraordinarily expensive. A single year in a nursing facility in the New York City metro area can easily exceed $180,000, and those costs continue climbing. Most families cannot absorb that kind of financial pressure indefinitely, which is exactly why Medicaid exists as a safety net for individuals who have exhausted their resources.
But here is what many families discover too late. Medicaid eligibility in New York is not simply about running out of money. It is about meeting strict asset and income thresholds under rules that penalize last-minute financial moves. The families who protect the most are the ones who start planning years before a health crisis ever arrives.
Our firm builds Medicaid plans that account for New York's specific regulations, the 60-month lookback period, and each family's unique financial picture. We do not believe in cookie-cutter strategies because no two families face identical circumstances.
What Medicaid Planning Actually Involves
Medicaid planning is a structured legal process designed to help individuals qualify for benefits while preserving as much of their hard-earned assets as possible for their families. It is not about hiding money. It is about using the legal tools New York provides to arrange finances in a way that satisfies eligibility requirements honestly and effectively.
We work with clients across Queens, Brooklyn, Manhattan, Staten Island, and the surrounding boroughs to build plans that address every piece of the puzzle.
- Asset Evaluation: We review your complete financial picture, including bank accounts, real estate, retirement funds, and life insurance policies, to determine what Medicaid will count and what it will not.
- Trust Structuring: Irrevocable Medicaid trusts are one of the most powerful tools available, and we draft them to meet New York's precise legal standards while protecting homes, savings, and investments.
- Spend-Down Guidance: When clients are over the resource limit, we develop compliant spend-down strategies that convert countable assets into exempt ones without triggering penalties.
- Spousal Protection: New York provides specific protections for the spouse who remains at home, and we make sure every available allowance and exemption is claimed.
How Irrevocable Trusts Shield Your Family's Assets
An irrevocable Medicaid asset protection trust is the centerpiece of most comprehensive plans we build. Once assets are transferred into this type of trust and five years pass, Medicaid no longer considers them available resources. The trust removes your legal control over the assets, which is precisely why Medicaid cannot count them.
This is fundamentally different from simply retitling accounts or adding a family member's name to your bank statement. Joint accounts, for example, create serious complications during a Medicaid application because the state presumes the entire balance belongs to the applicant. A properly funded irrevocable trust eliminates that risk entirely.
- Home Preservation: Your family residence can be placed into the trust, protecting it from Medicaid estate recovery after your passing.
- Lookback Compliance: We time every transfer carefully so the 60-month lookback period expires well before benefits are needed.
- Family Continuity: Your chosen trustee manages assets according to terms you helped design, keeping your wishes intact even after control transfers.
When Is the Right Time to Start Planning
The honest answer is sooner than most people expect. Because New York enforces a five-year lookback on virtually all asset transfers, waiting until a diagnosis or a fall or a hospital stay means the most effective strategies are already off the table.
We routinely meet with clients in their 60s and early 70s who are healthy and independent. That is the ideal window. Starting early means every option remains available, and the plan has time to mature before it is ever tested.
That said, we also help families who are facing an immediate need. Crisis Medicaid planning is more constrained, but there are still legitimate steps that can minimize financial damage, and we have guided hundreds of families through exactly that situation.
- Proactive Planning: Clients who begin five or more years before needing care have the widest range of asset protection options.
- Mid-Range Planning: Families with a two to four year horizon can still implement meaningful protections, though some strategies become unavailable.
- Crisis Response: Even when care is needed immediately, compliant spend-down techniques and spousal protections can preserve significant resources.
A Team That Understands What Your Family Is Going Through
Medicaid planning is deeply personal. Behind every application is a family trying to do right by a parent, a spouse, or a loved one while navigating a system that was not designed to be intuitive. We understand that, and we treat every client's situation with the seriousness and care it deserves.
Our approach starts with listening. We want to understand your family's goals, your concerns about the future, and the assets that matter most to you before we ever recommend a strategy. From there, we handle the legal work, the documentation, and the application process so you can focus on what matters most, taking care of the people you love.
Call us today at (347) 766-2685 or visit https://aminovlaw.com/ to schedule a free consultation.
