Monthly Archives: May 2023

Irrevocable Trusts and Medicaid Planning

Contact Somekh & Associates to discuss your options and take the first step toward securing your financial future. Schedule a consultation now and gain the peace of mind you deserve.

Irrevocable trusts can be utilized for Medicaid planning in New York to safeguard assets from being considered for Medicaid eligibility. Once assets are placed in an irrevocable trust, they cannot be reclaimed by the grantor. This strategy can help individuals qualify for Medicaid while preserving some assets for their beneficiaries. However, it is crucial to […]

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