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primarily when we’re doing elder law
planning we’re focused on two main
well really three main things we’re
focused on asset protection
to keep your assets uh from being
clawed back or taken
from your estate either during life or
after death by
disability or medicaid
or any other
benefit that you’re receiving
secondly we always want to make sure
that we have some tax planning involved
so that you don’t get hit with we
minimize rather your tax exposure when
we create your
plan
inherently in all of your planning
is what’s called probate avoidance which
is avoiding the surrogate court for
purposes of transferring assets at death
through using things like revocable and
irrevocable trusts properly funded with
your assets
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NY estates planning & probate attorney Russel Morgan, Esq. explains what issues elder law planning can help with. He explains that when handling elder law planning, the focus is on three primary areas. First is asset protection, ensuring that assets are safeguarded from being clawed back or seized during life or after death due to disability, Medicaid, or other benefits. Second is tax planning, aimed at minimizing tax exposure when creating the estate plan. Third, inherent in all planning is probate avoidance—structuring assets to transfer at death without going through surrogate court, often through properly funded revocable or irrevocable trusts.
