When you start to have long-term care needs, two factors will quickly become apparent. First, you (or your children, if they are handling your finances) will probably be stunned by how much it costs to pay for care. Second, if you have not done advance planning, you will understandably be worried about the future. How are you going to continue to pay for your care, if you run out of money as your health declines?
If you talk to an Elder Law attorney, a good firm should be able to allay your fears, as well as help you to create a plan for your long-term care and how to pay for it. When you understand what your options are, you can make an appropriate decision to protect yourself and your family. This may involve placing your money into a trust or transferring it to a trusted family member or friend, and applying for Medicaid.
Although some people have initial reservations about taking these kinds of steps, once you understand how the Medicaid system works in New York, you can see why so many people just like you benefit from Elder Law planning. If you have planned properly, the end result of having Medicaid pay for your long-term care means that your money will be protected from Medicaid, but will still be available to be used for your benefit. This can enable you to remain in your community and enjoy the best possible quality of life, without having to worry.