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The Trump Administration: Impact on New York’s Older Adults
The New York landscape for older adults may greatly change under a Trump administration. We will examine the various policies as proposed during the campaign and as they unfold in his presidency.
Medicaid Benefits
Currently, the Federal government and the States share joint responsibility for administering and funding the Medicaid program. President-Elect Trump has proposed that the States take over exclusive control of Medicaid benefits. Trump’s plan calls for block grants to the states, meaning that each state will get a block of money to use at the state level in any way they see fit, without any federal oversight or control.
Spousal Refusal
The New York State legislature entertains proposals nearly every year to abolish spousal refusal. Currently however, spousal refusal is protected by federal law and a waiver is required for spousal refusal to be eliminated. If and when Trump’s plan is effectuated to give states exclusive control, spousal refusal in New York may be a thing of the past.
Click here to learn more about Spousal Refusal.
What You Should Do
Asset protection planning is critical, now more than ever. Families need to plan ahead, well in advance of a health care crisis, to preserve assets and ensure the ability to access health care when needed. Placing assets in an irrevocable trust is often the best place to start.
Click here to learn more about trusts and asset protection planning.
As always, contact us if you have any questions. Our Elder Law attorneys are always available to address your questions and concerns.
Call us at 631.390.5000 or click here.
