Our office is located in Pittsford, so we are conveniently located for people that reside in Mendon, New York. This Monroe County town is a rich repository of history. It was originally inhabited by Native Americans, and it became established as an American municipality in 1813.
There are numerous structures in town that are listed on the National Register of Historic Places. These would include Sheldon Cobblestone House, Mendon Presbyterian Church, and Miller-Horton-Barben Farm, just to name a few. Without question, it is a fantastic place to call home, and we are proud to be able to serve its residents.
Mendon Senior Population
As elder law and estate planning attorneys, we are concerned about the interests of senior citizens. At the present time, there is an unprecedented aging of the population underway because of the fact that the baby boomers are reaching their senior years. To provide some perspective, consider the fact that the Social Security Administration is accepting between 10,000 and 15,000 applications each and every day.
According to the United States Census Bureau, about 15% of the people that reside in Mendon are 65 years of age and older. When you are in this age group, you will qualify for Medicare as a source of health care insurance if you paid FICA or self-employment taxes for at least 10 years.
This will certainly provide a solid safety net, but there are out-of-pocket expenses that you must pay yourself, so you should budget for them in advance. In addition to these costs, there is one enormous gap in the Medicare coverage that you should be well aware of when you are looking ahead toward the future.
Most senior citizens are going to need help with their day-to-day activities at some point in time. Many will reside in nursing homes, and these facilities are very expensive. In the greater Rochester area, you can expect to pay over $177,000 for a year in a nursing home. The expenses could be doubled if you are married and both parties eventually need long-term care.
Fortunately, there is a solution in the form of Medicaid. This jointly administered federal/state government program will pay for long-term care if you can obtain eligibility. Since it is only intended for people with limited resources, you must divest yourself of assets before you submit your application.
The gift giving must be completed at least five years before you apply, so careful planning is key. Our elder law attorneys can help you devise a plan that leads to Medicaid eligibility at the ideal time.
Probate in Mendon, NY
In the state of New York, the Surrogate’s Court is in charge of probate matters. For residents of Mendon, the appropriate court is the Monroe County Surrogate’s Court. Probate serves a purpose, but it is time-consuming and expensive. It would enter the picture if you use a last will as your primary asset transfer vehicle.
A viable alternative to a last will is the revocable living trust. When you establish this type of trust, you can act as the trustee and the beneficiary while you are living. You name successors to assume these roles after you pass away. Asset distributions to the beneficiaries that take place after your death would not be subject to the costly and expensive process of probate.
Schedule a Consultation Today!
Since you reached this website, you must be looking for an estate planning and elder law attorney in Mendon, New York. Now that you have identified the ideal resource, it is time to take action.
We would be glad to sit down with you, gain an understanding of your situation, and explain your options. If you decide to move forward, we can help you establish a rock solid estate plan that provides for the people that you love in the ideal manner. If you are ready to set the wheels in motion, you can send us a message to schedule a consultation or call us at 585-374-5210.
