Divorce and Medicaid Planning Strategies
Transferring Assets and Minimizing Spend-Down for Well Spouse While Qualifying the Medicaid Spouse for Assistance
Recording of a 90-minute CLE webinar with Q&A
This program focuses on the complex issues confronting family law attorneys when representing aging clients who are married for a second or third time, or aging married clients who face possible nursing home admission. Remarried couples ages 50 and older have a divorce rate 2.5 times higher than couples who are in their first marriage. For those age 65 or older, in a remarriage, the divorce rate is more than three times higher than for those in first marriages. As the baby boomer generation ages, family law attorneys will encounter with increasing frequency divorces involving retired people with children from prior marriages.
- The impact of grey divorce on the law practice
- Data counsel must understand
- Baby Boomer Statistics
- Divorce Rate Statistics
- Graying Divorce Statistics
- Medicaid Program Overview and impact on grey divorces
- Countable vs. Non-Countable Asset
- Transfer Rules and Penalties
- Calculation of Transfer Penalties
- Permissible Transfers
- Saving the House
- Benefits/Disadvantages of Life Estates
- Rental Property
- Irrevocable Income Only Trusts
- DRA Compliant Medicaid Annuity Options
- DRA Compliant Medicaid Annuity – Single Person
- Personal Care Contracts
- Shifting Income to the Healthy Spouse
- Long-Term Care Insurance Opportunities
- Ethical Considerations
- Post-Nuptial Agreements
The panel will discuss these and other important issues:
- Who is your client?
- How can you determine your client's competency - and if not, does a GAL need to be appointed?
- Does your state's law permit a power of attorney sign a divorce agreement?
- Does the state have standing to intervene in a divorce if one spouse is in a nursing home?
- Will a Judge approve a Medicaid divorce?
- Should we save the marital assets for the children or pay for their step-parents care?
Robert A. (Bob) Jutras, Esq.
Sheehan, Schiavoni, Jutras and Magliocchetti, LLP
Mr. Jutras focuses his practice on divorce and family law, estate planning, elder and Medicaid planning, probate... | Read More
Mr. Jutras focuses his practice on divorce and family law, estate planning, elder and Medicaid planning, probate administration, business and corporate law, personal injury and wrongful death. He is presented on "graying divorce" and Medicaid considerations.Close
Joshua S. England
Sheehan Schiavoni Jutras and Magliocchetti
Mr. England specializes in sophisticated trust and estate planning, elder and Medicaid planning, probate... | Read More
Mr. England specializes in sophisticated trust and estate planning, elder and Medicaid planning, probate administration, tax planning, and advising nonprofit organizations. He also serves as a Tax Manager at the accounting firm of Alexander, Aronson and Finning, where he leads all of their trust, estate and nonprofit tax matters. He heads the tax research team for the firm.Close