Medicaid Crisis Planning: Leveraging DRA Promissory Notes, Medicaid Compliant Annuities, Community Spouse Resource Allowance

Description

Elder law clients rarely plan in advance for Medicaid asset protection. A sudden illness requiring immediate long-term care placement or a degenerative diagnosis that will require extended care can devastate a family. Even at this critical point, there are Medicaid planning strategies that can protect as much income and assets as permitted under the law.

Key approaches include making countable assets unavailable through the use of Medicaid-qualifying annuities, qualified promissory notes, and leveraging the use of the Community Spouse Resource Allowance (CSRA).

The panel will outline best practices for meeting the stringent requirements for short-term annuities to escape being countable assets and subjected to transfer rules according to the Medicaid standards, as set forth by the Third Circuit U.S. Court of Appeals in Zahner.

Listen as our distinguished panel of attorneys experienced in Medicaid asset preservation reviews the eligibility requirements and discusses the most effective current strategies and approaches to preserving the assets of senior clients facing a Medicaid eligibility crisis.