Challenges in Medicaid and Estate Planning: Second or Third Marriages, Blended Families, Prenups, Postnups

A second or third marriage or a blended family raises special estate planning considerations. For example, the spouses may have children from previous marriages and may structure their estate plans to leave their assets to those children or to both sets of children. Often, these estate plans will include prenuptial or postnuptial agreements.

But Medicaid planning can upend such estate plans. When applying for Medicaid, the assets of both spouses are at risk, regardless of prenuptial or postnuptial agreements. Medicaid planning can also give rise to conflicts of interest between spouses, as well as conflicts of interest between the spouses and the surviving children.

To ensure effective Medicaid planning in such situations, attorneys should pursue strategies such as drafting certain trusts and should recognize and address common ethical issues.

Listen as our panel discusses Medicaid planning strategies in light of estate planning for second and third marriages, avoiding mistakes in drafting trusts, addressing conflicts of interest, and other key issues for elder law attorneys.

1. Common issues in estate planning for second or third marriages
   1. Prenuptial and postnuptial agreements
   2. Surviving children of spouses
2. Liability for long-term care costs between spouses
3. Trust drafting and Medicaid
4. Addressing conflicts of interest and ethical issues

The panel will discuss these and other key issues:

• What are the key issues in estate planning in second or third marriages?
• How do you navigate conflicts of interest and other issues presented in Medicare planning in light of prenuptial and postnuptial agreements in estate plans?
• What are best practices in drafting trusts and designating trustees and co-trustees in estate plans for couples in second and third marriages and blended families?