Nassau County Medicaid Planning Lawyer Seth Schlessel Outlines Key Asset Protections for Medicaid Applicants
Understanding which assets can be preserved during the Medicaid application process is critical, particularly in New York, where the financial thresholds and eligibility guidelines are highly specific. In a detailed blog post titled “What Assets Can You Keep When You Go on Medicaid?”, Nassau County Medicaid planning lawyer Seth Schlessel (https://www.schlessellaw.com/what-assets-can-you-keep-when-you-go-on-medicaid/) of Schlessel Law PLLC breaks down the categories of assets applicants may retain without compromising their eligibility. The content is intended to support individuals and families navigating long-term care planning and the often-confusing Medicaid rules in the state.
For anyone working with a Nassau County Medicaid planning lawyer, understanding asset exemptions is a crucial first step. According to Seth Schlessel, Medicaid does not count certain resources against eligibility limits. “In New York, Medicaid recipients can keep certain assets, including one home (if equity is under $1,097,000 in 2025), one vehicle, personal belongings, and up to $32,396 in savings,” he writes. These exemptions are significant for individuals who are concerned about losing everything to qualify for coverage.
Seth Schlessel, as a Nassau County Medicaid planning lawyer, explains that these exempt assets typically include a primary residence (under the allowable equity limit), personal items, and one automobile. Additional exclusions, such as prepaid burial plans and retirement accounts in payout status, can also be shielded from Medicaid’s eligibility assessment. This information can help guide long-term care decisions and prevent missteps during the application process.
The post outlines that Medicaid eligibility is based not only on income but also on countable assets. Countable assets include cash, bank accounts, investments, and any real estate other than the primary residence. Medicaid also has a five-year look-back period during which any improper asset transfers may trigger penalties. Seth Schlessel notes that careful planning around this timeline is essential to avoid disqualification from benefits.
In the broader discussion, the Nassau County Medicaid planning lawyer also addresses common misconceptions. For example, many believe all assets must be depleted before coverage begins. Seth Schlessel clarifies that with proper planning, individuals can retain a portion of their wealth while still qualifying for Medicaid assistance. The post also warns against assumptions such as being able to give away property to qualify. Medicaid’s five-year look-back period penalizes asset transfers for less than fair market value.
Strategies such as Medicaid-compliant annuities and irrevocable trusts are covered as options to protect assets. Seth Schlessel explains that these tools, when structured correctly, convert countable resources into non-countable income streams or reposition ownership. For married applicants, protections exist through the Community Spouse Resource Allowance (CSRA), which permits the spouse not applying for Medicaid to retain assets up to a specified limit—in 2025, this is $157,920.
The blog post emphasizes that early planning remains the most effective approach. It allows time to implement asset protection strategies and comply with look-back provisions. Seth Schlessel highlights that, “Early planning allows for a wider range of options and strategies to protect assets and ensure Medicaid eligibility.” This timing also reduces the stress and urgency that typically accompany late-stage applications or sudden care needs.
Application preparation is another major focus in Seth Schlessel’s article. Assembling comprehensive documentation, from income statements to asset records, can streamline the process and reduce the risk of denial. The Nassau County Medicaid planning lawyer advises that accuracy and transparency in the application process are essential, and those submitting forms should be prepared to respond promptly to requests from Medicaid officials.
Additionally, the article addresses the possibility of Medicaid liens on homes. If a recipient is permanently placed in long-term care and cannot return home, the state may pursue reimbursement through a lien on the property. However, Seth Schlessel notes that exceptions apply when certain family members remain in the home, such as children under 21, disabled dependents, or siblings with shared ownership.
Planning with the guidance of a Medicaid planning lawyer helps safeguard both eligibility and family resources. Seth Schlessel’s breakdown of exempt and countable assets serves as a practical guide for those looking to protect their homes, savings, and legacy while securing access to essential long-term care benefits.
Medicaid rules in New York are detailed and often confusing. However, informed planning helps avoid unnecessary financial hardship. Working with a Medicaid planning attorney like Seth Schlessel at Schlessel Law PLLC enables individuals and families to understand their rights and options before making critical decisions.
Navigating long-term care planning requires accurate knowledge of what Medicaid permits and what it doesn’t. Individuals looking to protect their savings, home, or support their spouse through Medicaid eligibility should seek out legal guidance early. The insights provided by Nassau County Medicaid planning lawyer Seth Schlessel offer a valuable starting point for informed, effective decision-making.
About Schlessel Law PLLC:
Schlessel Law PLLC is a New York-based firm that focuses on Medicaid planning and elder law services. Led by attorney Seth Schlessel, the firm provides legal guidance to individuals and families aiming to protect their assets and plan for long-term care. With a clear understanding of New York’s Medicaid policies, Schlessel Law PLLC assists clients through the intricacies of eligibility and asset preservation strategies.
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