Medicaid Planning When a Spouse Enters a Nursing Home: Avoiding Costly Pitfalls to Preserve Spousal Income
CSRA, Monthly Maintenance Needs Allowance, Exempt Asset Requirements, and More
Recording of a 90-minute CLE webinar with Q&A
This CLE course 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 allowance (CSRA) and Medicaid monthly minimum maintenance needs allowance (MMMNA) and how to comprehensively identify exempt assets and avoid spending down exempt funds. The program will discuss other approaches to maintain assets and income for the healthy spouse.
- Community spouse resource allowance: determine snapshot date
- Avoid purchasing exempt assets before the date of admission if that is snapshot date
- Case study--spouses with less than max CSRA
- Case study--spouses with more than max CSRA
- Monthly maintenance needs allowance: using nonexempt assets to protect the spouse's income
- Avoid spending down exempt resources
- Identifying earliest date for Medicaid qualification
- Identifying all exempt transfers
- Sufficient power of attorney
- Divorce as a strategy
- Pre-planning vs. crisis planning
- Revising the estate plan
- Disinheriting the sick spouse
- Removing the sick spouse from fiduciary roles
The panel will review these and other critical issues:
- How can the CSRA be optimized for the married clients' benefit?
- When is divorce a viable option in a spend-down strategy?
- How does the strategy differ between nursing home pre-planning vs. crisis planning?
Ms. Dowell assists older clients, their children and other family members with Nursing Home, Medicaid, asset... | Read More
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.Close
Michael J. Keenan
Mr. Keenan specializes in elder law, estate planning, special needs trusts and probate law. He has written... | Read More
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.Close