Here’s our interview with Lori Somekh, Esq., Founder of NY Elder Law Group, about her rules for success.

Lori is a highly experienced elder law attorney who has dedicated nearly 30 years to helping individuals and families in New York navigate the complexities of estate planning and Medicaid law. She is passionate about making legal services accessible, emphasizing the importance of early planning to avoid costly emergencies. Her firm provides comprehensive services, including Medicaid planning, estate planning, and probate, with a focus on protecting assets and ensuring that individuals receive the care they need. Through her platform, Learn with Lori, she offers affordable legal education to empower families to make informed decisions and secure their futures.

Lori Somekh’s Background

Lori Somekh graduated from Pennsylvania State University in 1981 and received her law degree from St. John’s University School of Law. She is a member of the New York State Bar Association’s Elder Law and Real Estate Sections, the Queens County Bar Association’s Elderly and Disabled Committee and Steering Committee on Fiduciary Appointments, the Nassau County Bar Association, the National Academy of Elder Law Attorneys (NAELA), Yashar (the attorneys’ and judges’ Chapter of Hadassah), and the Women’s Bar Association of the State of New York. Born in New Haven, Connecticut, Lori was admitted to practice law in New York and the Federal Courts. She established her firm in 1997 and enjoys serving her clients’ elder law needs especially those affecting their health and wealth.

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Lori Somekh has served in guardianship cases as a court evaluator, court-appointed counsel, temporary guardian, and guardian-ad-litem. She has served as a Judicial Hearing Officer for the State of New York, where hearing appeals of real property tax reductions cases. Prior to building a successful elder advocacy firm, Lori was assistant vice president of First Northern Mortgagee Corp., and an associate of Cullen & Dykman, one of New York City’s oldest and largest law firms.

Lori Somekh Questions and Discussions

Here’s a bullet-point summary of the questions and discussions from our interview with Lori Somekh:

1. Introduction to Lori Somekh and Her Expertise 

• Lori Somekh founded the NY Elder Law Group, serving New York and Long Island for nearly three decades.
• Her firm specializes in estate planning, Medicaid planning, Medicaid applications, Medicaid trusts, and probate services.
• Lori’s passion lies in making legal information accessible and affordable to prevent costly emergencies.

2. Importance of Early Planning

• Lori emphasizes the necessity of addressing legal matters early, such as setting up a power of attorney, health care proxy, and trusts.
• She explains that people often delay legal planning until it’s too late, leading to expensive and stressful situations.
• Starting the planning process in one’s mid-60s is recommended, but it can be beneficial at any age.

3. Challenges of Emergency Legal Situations

• Lori highlights the difficulties that arise when families don’t plan ahead, particularly in emergency situations like a stroke or sudden illness.
• Without proper legal documentation, families may struggle to access loved ones’ assets or secure necessary care.
• Medicaid planning is essential to avoid depleting life savings on long-term care.

4. Medicaid Planning and Asset Protection

• Lori discusses the significance of Medicaid asset protection trusts and how they can safeguard assets from being used up by nursing home costs.
• She explains the process and benefits of Medicaid planning, including the importance of the five-year lookback period.

5. Common Mistakes and Preventative Measures

• One of the biggest mistakes people make is waiting too long to set up legal protections, which can lead to financial ruin in the face of long-term care needs.
• Lori Somekh advocates for regular review of legal documents, especially in the event of major life changes like the death of a spouse or beneficiary.

6. Lori Somekh’s Preventative Legal Approach

• Lori offers a low-cost yearly program through her platform, Learn with Lori, where she provides weekly group training on essential legal topics.
• She encourages proactive legal planning to avoid crises and protect generational wealth.

7. Success Stories and Positive Outcomes

• Lori shares examples of clients who had their assets protected through proper planning, allowing them to afford necessary care without financial hardship.
• She stresses that early planning can make a difficult situation more manageable, preventing the need for drastic measures like selling the family home.

8. Advice for Younger Generations

• Lori advises young adults to start life planning early, setting goals for every aspect of life, including financial planning and personal growth.

NY Elder Law Group provides comprehensive estate planning and elder law services. Since 1997, NY Elder Law Group has worked to protect the interests of individuals and families in New York as they make important decisions about their care. If you are seeking assistance with estate planning services, Medicaid planning, Medicaid applications, Medicaid trusts, and probate services, our law firm can help.

If you want to work with Lori Somekh, Esq. so that you would know what you need to take care of yourself and your family legally, go to https://www.nyelderlawgroup.com.

Onward and Upwards,

Joseph