Our upstate New York office is located in Albany, so our service area includes Schenectady proper and the rest of Schenectady County. This city has been one of the most important municipalities in this part of New York for many years, and it has a very rich history. The area was originally settled in 1661, and it was incorporated back in 1798.
Because of this history, there are numerous notable sites that serve as sources of pride for local residents. Proctors Theatre is now an arts center that was originally constructed just prior to the Great Depression. In the Stockade Historic District, you can see a treasure trove of beautiful homes, with some of them dating back to the 1700s.
It is a fantastic place to raise a family on many different levels, and local graduates can consider a venerable institution if they would like to matriculate close to home. Union College is centered around the architecturally interesting Nott Memorial that was constructed during the latter portion of the 19th century, and it is still going strong.
These are a small handful of the attributes, but there are many other reasons why Schenectady is considered to be one of the best places to live in the upstate region. We are proud to be able to provide assistance to locals, and we look forward to building more strong relationships as time goes on.
Schenectady Senior Population
There is a good balance of residents of all ages in town, including a robust senior population. About 17% of people are 65 years of age and older, and this is a bit higher than the national average. Around the country, the elder community has been growing, because people that are part of the baby boomer generation are now attaining senior citizen status year by year.
We focus on elder law and estate planning in Schenectady and other nearby cities. These areas of specialization focus on the interests of senior citizens, and we are always here to help our neighbors. There is one particular elder law issue that is dwarfing the others at the present time when it comes to its overall impact.
Many seniors feel confident about the health insurance that they will have when they reach their mid-60s and beyond, because they will qualify for Medicare. This is definitely a sound underpinning, but there are gaps, and we will look at them in a different post. However, there is one complete void in the coverage that makes aging extremely difficult for many families from a financial perspective.
Most people that live normal life spans will eventually need long-term care, and some of them will reside in nursing homes per se. These facilities are extremely expensive, and Medicare does not pay for the custodial care that nursing homes provide for their patients.
Depending on the nature of your resources and the extent of your planning, your entire legacy could wind up in the coffers of a nursing home. As a family, you have to consider the possibility of an aging husband and wife both needing nursing home care, so the expenses could be doubled.
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What do you do to address possible nursing home costs as a Schenectady, New York resident? For many, the solution is Medicaid coverage. This jointly administered federal/state government health insurance program will pay for a stay in a nursing home if you can gain eligibility.
However, you are probably aware of the fact that you cannot qualify for Medicaid unless you have significant financial need. People often give gifts or fund trusts for the benefit of loved ones to obtain eligibility late in their lives.
This takes careful, informed planning, because you have to complete all divestitures at least five years before you apply for Medicaid if you want to obtain timely eligibility.
We are here to help if you would like to discuss all the details with a licensed Schenectady area elder law attorney. You are invited to set up a consultation right now, and at the meeting we will sit down, get to know you, and ultimately make the appropriate recommendations.
To set the wheels in motion, you can send us a message through our contact page or call us at 518-389-6020.