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Medicaid and Estate Planning: Strategies, Conflicts, Trust and Power of Attorney Issues, and Tax Consequences

Recording of a 90-minute CLE video webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Wednesday, February 1, 2023

Recorded event now available

or call 1-800-926-7926

This CLE course will provide elder law attorneys guidance on navigating challenges and avoiding missteps between Medicaid and estate planning. The panelist will discuss the inherent differences between Medicaid planning and estate planning, common mistakes in drafting trusts, tax consequences, accounting for multiple income sources, and other issues for elder law attorneys.

Description

The use of certain estate planning techniques can have a significant impact on Medicaid planning and eligibility requirements. Elder law attorneys must develop strategies to ensure effective Medicaid planning.

Medicaid requires an applicant to have income and assets under a specified amount to be eligible. Still, some estate planning activities can cause challenges in meeting those requirements and related rules. To ensure effective Medicaid planning, attorneys must avoid common mistakes, such as failing to monitor and take into account any gifts and other transfers, drafting certain trusts, ensuring power of attorneys are appropriate for Medicaid planning, and accounting for multiple income sources. It is particularly important to consider the tax consequences of gifting, retirement assets, and any other estate planning activities.

Listen as Don L. Rosenberg, Co-Founder, Shareholder at Barron Rosenberg Mayoras & Mayoras, discusses Medicaid planning strategies and the impact of estate planning activities, avoiding mistakes in drafting trusts, potential tax implications, and other key issues for elder law attorneys.

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Outline

  1. Estate planning needs vs. Medicaid requirements
  2. Drafting of trusts and power of attorneys in relation to Medicaid
  3. Gifting vs. Medicaid transfers
  4. Tax implications

Benefits

The panelist will review these and other key issues:

  • What are the key issues for Medicaid planning vs. estate planning?
  • What factors must be considered in making gifts vs. Medicaid transfers?
  • What are the tax implications of transferring annuities for Medicaid?
  • What are the implications of dealing with retirement assets in a Medicaid context?
  • How do you navigate the issues presented by multiple sources of income?
  • How can you ensure compliance with other benefits eligibility requirements?
  • What mistakes must be avoided in utilizing and drafting certain trusts?
  • Medicaid proactive planning for the community spouse
  • Medicaid planning for married couples v. single persons

Faculty

Rosenberg, Don
Don L. Rosenberg
Co-Founder, Shareholder
Barron Rosenberg Mayoras & Mayoras

Mr. Rosenberg has more than 35 years of experience practicing law and focuses on estate planning, elder law, Medicaid...  |  Read More

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