Myth #1 The state is going to take your home.
We hear this time and time again, and I want to assure you that if you do nothing, this is certainly possible.
What could end up happening is that if you qualify for care such as Medicaid, the state could end up filing liens against your house to recover those liens when you pass away.
For many people, their home is their highest valued asset. Their home is an asset they are most proud of, so having their home at risk of being recovered is not the ideal scenario, nor should you settle for this outcome. New York is a favorable state that allows us to utilize some planning methods to protect your home instead of it being used to fund long-term care or pay back the state for long-term care that was provided.
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