Medicaid Planning When a Spouse Enters a Nursing Home: Avoiding Costly Pitfalls to Preserve Spousal Income

Navigating the Community Spouse Resource Allowance, Monthly Maintenance Needs Allowance, Exempt Asset Requirements and More

A live 90-minute CLE webinar with interactive Q&A


Wednesday, May 24, 2017
1:00pm-2:30pm EDT, 10:00am-11:30am PDT

Early Registration Discount Deadline, Friday, April 28, 2017


This CLE webinar will provide elder law counsel with the tools to assist their married clients in Medicaid planning when one spouse enters a nursing home. The program will discuss how to best leverage the community spouse resource and monthly maintenance needs allowances and how to comprehensively identify exempt assets and avoid spending down exempt resources. The program will discuss other approaches to adequately maintain assets and income for the healthy spouse.

Description

The spend-down of assets for Medicaid qualification causes much confusion. Practitioners advising the senior population must understand new medical criteria, qualification standards for Medicaid, and how assets are classified.

Asset protection strategy implementation requires a working knowledge of how the spend-down is determined. Rules for married couples are particularly complex when one spouse enters a nursing home or long-term care facility. Counsel’s goal is to preserve as much income and assets for the healthy spouse as permitted under the law.

Key approaches include making countable assets unavailable and leveraging the use of the CSRA and MMMNA. Other strategies include the transfer of the sick spouse’s IRA/retirement funds to the healthy spouse, having a sufficient power of attorney, considering divorce as an asset-protection option, and revising the estate plan.

Listen as our distinguished panel of attorneys discusses tools to assist married clients in Medicaid planning when only one spouse enters a nursing home. The panel will provide tips for leveraging the CSRA and MMMNA, identifying exempt assets, and avoiding spending down exempt resources. The panel will also cover other strategies to maintain assets and income for the healthy spouse.

Outline

  1. Community spouse resource allowance: determine snapshot date
    1. Avoid purchasing exempt assets before date of admission if that is snapshot date
    2. Case study—spouses with less than max CSRA
    3. Case study—spouses with more than max CSRA
  2. Monthly maintenance needs allowance: using nonexempt assets to protect the spouse’s income
  3. Avoid spending down exempt resources
  4. Identifying earliest date for Medicaid qualification
  5. Identifying all exempt transfers
    1. IRA/retirement funds
  6. Sufficient power of attorney
  7. Divorce as a strategy
  8. Pre-planning vs. crisis planning
  9. Revising the estate plan
    1. Disinheriting the sick spouse
    2. Removing the sick spouse from fiduciary roles

Benefits

The panel will review these and other key issues:

  • How can the CSRA be best leveraged for the married clients’ benefit?
  • How can the sick spouse’s IRA/retirement funds be transferred to the healthy spouse and still be used to pay the facility costs?
  • When is divorce a viable option in a spend-down strategy?
  • How does the strategy differ between nursing home pre-planning vs. crisis planning?

Faculty

Michael J. Keenan, Atty
Keenan Law, South Glastonbury, Conn.

Mr. Keenan specializes in elder law, estate planning, special needs trusts and probate law. He has written articles for legal journals and periodicals on the topics of special needs trusts, estate planning and the termination of parental rights. He is a frequent speaker at professional organizations on the topics of elder law, estate planning and special needs trusts.

Shelley Dowell
Kentucky Elderlaw, Louisville, Ky.

Ms. Dowell assists older clients, their children and other family members with Nursing Home, Medicaid, asset preservation, asset distribution, probate, guardianship, and other issues. In addition, she drafts legal documents such as Wills, Powers of Attorney, Trusts, and Health Care Surrogates.


Live Webinar

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Includes Early Discount Savings of $50.00 (through 04/28/17)

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This webinar is eligible for at least 1.5 general CLE credits.

CLE credits are not available for PR.

*In KS, OH, PA, for more than 1 attendee on the connection you must contact Strafford CLE via email or call 1-800-926-7926 ext. 35 prior to the program for special instructions.


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Customer Reviews

The program was very informative and the information was precise and straight forward.

Michael Bradford

Speidel Law Firm

I got a lot from the practical examples and advice on how to approach specific legal situations.

Zach Hesselbaum

Law ElderLaw

The speakers had excellent slides which made their points clear. Also, they talked about their experiences with clients, not just the theory, but the actual practice.

Dianne Pallmerine

The speaker's command of the subject matter and his ability to explain difficult concepts in a way that could be understood by everyone was great.

Craig Cockrell

Mitchell Williams Law Firm

I liked that the speakers had great knowledge of the topic and presented it with ease without making it overly complicated or rushing through the material.

Laura S. Brooks

Law Office of Laura S. Brooks

or call 1-800-926-7926

Elder Law Advisory Board

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Partner

Goldfarb Abrandt Salzman & Kutzin

David P. Pollan

Attorney

The Pollan Law Firm

Linda M. Strohschein

Attorney

Strohschein Law Group

or call 1-800-926-7926

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