Medicaid Planning and Guardianship: Securing Benefits When an Applicant Lacks Capacity; Best Practices for Counsel

Description

Incapacity, in one form or another, frequently occurs for the elderly. When properly structured and executed, guardianship can shield seniors and their families from potential harm due to waning physical or mental capability. However, Medicaid planning in the context of guardianship adds layers of complexity and attorneys must consider a variety of factors for moving assets or converting existing countable assets into Medicaid-exempt assets.

A guardianship is a court-supervised process for transferring an incapacitated individual's rights to someone capable of providing supervision regarding care or finances. The procedures involved can be daunting and require a careful analysis of the risks and factors requiring the need for court intervention, required court evaluations and hearings, and other essential matters that impact the proceedings.

For purposes of Medicaid applications and planning methods, the guardian must work closely with counsel in order to effectively protect the assets and financial interests of clients. Elder law attorneys must have a complete understanding of these protective proceedings and their impact on Medicaid planning.

Listen as our panel discusses the intersection of Medicaid and guardianship and proceedings, circumstances where guardians should consider Medicaid planning, transferring assets, utilizing trusts, and best practices for elder law attorneys.