In this episode of Unlocking Senior Resources, Larry Wagner sits down with Deanna M. Eble, a Partner at Russo Law Group, P.C. With over 17 years of experience at one of Long Island’s most respected elder law firms, Deanna tackles the number one fear among seniors: losing the family home to a nursing home. She shares her unique perspective—from her early days working on the front lines in a nursing home to her current role as a leading legal strategist—to explain why planning for the worst is the only way to ensure the best for your family.
This conversation is a “must-watch” because it peels back the curtain on the “human side” of elder law. Larry and Deanna break down complex Medicaid rules into actionable advice, covering everything from why your current Power of Attorney might be a “ticking time bomb” to how a specific type of trust can protect your house while allowing you to keep your property tax exemptions. If you’re a senior or an adult child concerned about the rising costs of long-term care, this roadmap is for you.
In this episode, we discuss:
- The 5-Year Look-Back Audit: What Medicaid is actually looking for in your bank statements and how they calculate “penalties.”
- MAPT vs. Life Estates: Why the “cheaper” legal option often leads to massive capital gains taxes and family lawsuits.
- New York Asset Limits: Navigating the 2026 thresholds for home care ($32,000+ in assets) and the $1,820 monthly income rule.
- The Pooled Income Trust: A legal “loophole” that allows seniors to stay in their homes even if their income exceeds Medicaid limits.
Timeline Summary
- 00:00 Introduction to Deanna M. Eble and the “human side” of elder law.
- 04:30 The “Best” Nursing Home: Why proximity to family beats a fancy lobby.
- 09:15 Medicaid Asset Protection Trusts (MAPT) vs. Life Estate Deeds.
- 14:00 The cautionary tale of the “Ex-Daughter-in-Law” and the deed lawsuit.
- 21:10 Understanding Capital Gains and the “Step-Up in Basis” benefit.
- 28:45 The 60-Month Audit: How dividends and “hidden” stocks can disqualify you.
- 35:20 Protecting Retirement Accounts: Why you don’t have to spend down your IRA.
- 42:50 Power of Attorney Red Flags: The importance of “Unlimited Gifting” clauses.
- 51:10 Spousal Refusal: New York’s unique protection for married couples.
- 58:00 Closing thoughts: Why “Something is always better than nothing.”
5 Key Takeaways
- Trusts Beat Life Estates for Protection: A Medicaid Asset Protection Trust protects your home from a child’s creditors or divorce and preserves your $250,000 capital gains exclusion—something a Life Estate Deed fails to do.
- IRAs Are Often Exempt Assets: You do not necessarily have to liquidate your retirement accounts to qualify for Medicaid. In New York, these can stay in your name as long as they are in “payout status,” providing you with essential income.
- The Power of Attorney Crisis: An outdated or “internet-downloaded” Power of Attorney can prevent your lawyer from saving your assets in a crisis. Ensure yours allows for “unlimited gifting” and is updated to the June 2021 NY standards.
- The “Human” Metric for Care: Choose a facility based on where you can visit most often. High-frequency family interaction is the single greatest factor in ensuring quality care and accountability from staff.
- Pooled Income Trusts for Independence: If your income is too high for Medicaid, you can use a Pooled Income Trust to pay for your own utilities and taxes, allowing you to remain in your home while receiving essential care.
Official Links & Resources
Connect with Deanna M. Eble & Russo Law Group, P.C.:
- Website: vjrussolaw.com
- Phone: 516-683-1717
- Office: 100 Quentin Roosevelt Blvd, Garden City, NY 11530
Connect with Larry Wagner & Leave The Key:
- Website: leavethekey.com
- Phone: 631-388-7771
- Senior Transition Service: leavethekey.com/senior-transition-services-long-island/
- Facebook: facebook.com/leavethekey
Final Thoughts
At Leave The Key, we view our work with the senior community as a vital service to the families of Long Island. Transitioning from a family home is a major life event, and our goal is to ensure you have the resources and legal knowledge to do so with confidence. If this episode helped clarify your future planning, please subscribe and share it with someone who needs to hear this message.
