Maximizing Medicaid Benefits: How Pooled Trusts Can Help You Afford Long-Term Care
Your Hosts
Frank E. Hemming III, Esq.
Partner, Pierro, Connor & Strauss
Pierrolaw
Sarah Grimes
Director of Outreach and Community Relations, NYSARC Trust Services
PierrolawSeptember 7, 2024
Hosts: Frank Hemming and Special Guest, Sarah Grimes, Director of Outreach and Community Relations for NYSARC Trust Services
This week on Life Happens, we’re tackling the important topic of Medicaid Planning and Pooled Trusts. Listen as host Frank Hemming, Partner at Pierro, Connor & Strauss, is joined by Sarah Grimes from NYSARC Trust Services.
They’ll discuss how to qualify for Medicaid benefits while preserving your income and assets through legal techniques like the Medicaid Asset Protection Trust (MAPT). Frank will focus on strategies to help individuals protect their wealth and remain eligible for Medicaid, while Sarah will cover the benefits of using pooled trusts to manage surplus income, ensuring you can afford long-term care without spending down your life savings.
During the show, they’ll explore key topics including:
- How to Qualify for Medicaid: Understanding income limits and eligibility
- Medicaid Asset Protection Trusts (MAPT): Safeguard your assets while qualifying for Medicaid
- Income Spend-Down and Surplus Income: What to do when your income exceeds Medicaid limits
- Pooled Trusts: Use excess income to stay eligible for Medicaid and afford home care
- Using a Pooled Trust: How to submit requests for bill payments and manage financial stability while receiving care
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