Update: The implementation date for the "look back" has been extended from July 1, 2021…
Are you a shareholder in a co-op? Do you need long-term care? Have you considered the likelihood you will need long-term care in the future?
As Elder Law Attorneys, a primary focus of Lamson & Cutner is to protect your real property in the event that you should need costly long-term care. While real property is easily transferred, co-op apartments are more complicated. In order to transfer your co-op shares and proprietary lease to another person or to a trust, you will need approval from the co-op board. Obtaining approval may not be easy, and having representation by an experienced Elder Law attorney can be very helpful.
Lamson & Cutner has established a very successful track record of obtaining co-op board approval. Read about our successful approach here. While every co-op board is different, and no firm can guarantee approval, your Elder Law firm should be adept at dealing with co-ops.
To learn about other ways we can help to protect your home when you need Medicaid coverage for long-term care, visit our Real Estate Transactions page.
If you’d like to Get Started today, call our office at: (212) 447-8690