I Have Too Much – I Will Never Be Eligible For Medicaid!

By: Anthony J. Enea, Esq.

Many are of the belief that because they have several million dollars’ worth of assets (including their home(s), savings accounts, and retirement monies) they will never qualify for either Medicaid Home Care and/or Nursing Home benefits. Depending on their individual circumstances, they may be right, however, it is far from certain that they are.

For example, most seniors do not realize that in New York State, the face value of their retirement assets (IRAs, 401Ks, 403Bs, etc.) do not affect their eligibility for Medicaid, and that only the required minimum distribution (RMDs) will be counted as income once they are receiving Medicaid benefits. With respect to Medicaid Home Care, one’s income, including RMDs, can be used for their care and living expenses—even for home care that is not covered by Medicaid. This is accomplished by the Medicaid applicant enrolling in a charitable pooled-income community trust.

Click HERE to Read 'I Have Too Much – I Will Never Be Eligible For Medicaid!'

Why an Irrevocable Medicaid Asset Protection Trust Works for Non-Medicaid Related Reasons

By: Stella King, Esq.

The Irrevocable Medicaid Asset Protection Trust (MAPT) is regularly used by elder law attorneys to protect one’s assets from the cost of long-term care. The transfer of assets to a MAPT triggers a 5-year “lookback” period for nursing home Medicaid (NHMA), during which period one is ineligible to receive NHMA benefits. (Currently, the transfer does not cause a period of ineligibility for home care Medicaid, however, this may change in the future as a 2.5-year lookback period is still expected to be implemented.) Once the lookback period has expired, the assets that have been transferred to the MAPT are fully protected for Medicaid purposes. Although long-term care planning is the primary reason one would utilize a MAPT, there are still many other advantages of having one:

1. It Protects Against Creditors
Medicaid liens, claims, and ineligibility (after the expiration of the lookback period) are prevented. When assets are transferred to a MAPT, those assets are not only shielded from other creditors of the trust creator but also from the beneficiaries’ creditors.

Click HERE to Read More About Irrevocable Medicaid Asset Protection Trusts

Upcoming Speaking Engagements

Featuring the Attorneys of Enea, Scanlan & Sirignano, LLP

Tuesday, April 14, 2026 from 12:00-12:50pm
Lauren C. Enea, Esq. will be speaking on
“Aging in Place with Medicaid Home Care”
Hosted by: Lawline
Webinar
This program is appropriate for legal professionals.
For more information or to register,
visit: https://bit.ly/4bYgrs2

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Tuesday, April 14, 2026 from 6:30-8:00pm
Stella King, Esq. will be speaking on
“Legal Issues and Best Practices in Senior Care”
Hosted by: Gramatan Village & Bronxville Public Library
In Person: 201 Pondfield Rd, Bronxville, NY 10708
For more information or to register,
visit: https://bit.ly/3ObaJcX

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Monday, April 20, 2026 from 3:00-4:00pm
Lauren C. Enea, Esq. will be speaking on
“How to Avoid a Last Will Contest”
Hosted by: Bronxville Public Library
In Person: 201 Pondfield Rd, Bronxville, NY 10708
For more information or to register,
visit: https://bit.ly/4cuXopc

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Wednesday, April 22, 2026 from 12:00-1:00pm
Michael P. Enea, Esq. will be speaking on
“Drafting an Effective Power of Attorney”
Hosted by: NYCPA Manhattan/Bronx Chapter
Webinar
This program is appropriate for financial professionals.
For more information or to register,
visit: https://cpe.nysscpa.org/product/36760

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Tuesday, April 28, 2026 from 12:00-1:15pm
Sara Meyers, Esq. will be speaking on
“Key Elements of Estate Planning”
Hosted by: Franciscan Mission Associates
Webinar
For more information or to register,
visit: https://bit.ly/4md1ENq

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Tuesday, April 28, 2026 from 1:00-2:00pm
Lauren C. Enea, Esq. will be speaking on
“Accountable Aging: Preparing for the Elder Years”
Hosted by: Tuckahoe Senior Citizens
In Person: Fr. Fata Hall at Assumption Church
125 Wallace St., Tuckahoe, NY 10707
For more information, call (914) 337-8487 or
visit https://www.scc70.org/tuckahoeseniors

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Tuesday, April 28, 2026 from 7:00-8:00pm
Stella King, Esq. will be speaking on
“What is a Power of Attorney and Why Do I Need One?”
Hosted by: The Warner Library
Webinar
For more information or to register,
visit: https://bit.ly/3OrJviv

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Wednesday, April 29, 2026 from 7:00-8:30pm
Sara Meyers, Esq. will be speaking on
“The Nuts & Bolts of Elder Law”
Hosted by: Chappaqua Continuing Education
In Person: Horace Greeley High School
70 Roaring Brook Rd, Chappaqua, NY 10514
For more information or to register,
visit: https://bit.ly/4mdFKcS

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Thursday, May 7, 2026 from 5:00-7:00pm
Stella King, Esq. will be speaking on
“Asset Protection and Estate Planning”
Hosted by: KeyBank Tarrytown
In Person: KeyBank Tarrytown
75 N Broadway, Tarrytown, NY 10591
For more information or to register, call 914-524-4981
or email christine_tosi@keybank.com.

Recent Blog Posts

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