BarbriSFCourseDetails
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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Family Law

Date & Time
  • event Date

    Wednesday, September 11, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$197.00
CLE
ALL

This CLE course will provide counsel with an in-depth look at the use of personal services contracts as an asset spend-down technique for Medicaid qualification. The panel will discuss the importance of having a personal care agreement in place, how to select the most suitable form of payment for services, taxation issues, and more.

Faculty

Brandon Arkin
Attorney
Solkoff Legal, PA

Mr. Arkin represents the elderly, the disabled and their caregivers in all facets of Elder Law including Estate Planning, Asset Protection Planning, Public Benefits, Incapacity Planning, Veteran Benefits, and Special Needs Planning. He gained a passion for helping the elderly after watching his own family struggle to afford the care his grandparents needed. Mr. Arkin witnessed how his family was harmed by misinformation regarding Public Benefits and the difficulties they had in navigating the governmental bureaucracy involved with obtaining Medicaid and Veterans Benefits.

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Jason Neufeld
Founder, Managing Partner, and Principal Attorney
Elder Needs Law, PLLC

Mr. Nuefeld is the Managing Partner of the firm. Jason serves as Lead Attorney for Florida Medicaid Planning, Asset Protection Planning and Government Benefits Preservation Planning client matters. He is a sought out guest lecturer to both attorneys and the general public. Mr. Neufeld frequently publishes articles online and in Florida elder law publications. He is the author of the book: How to Get Medicaid to Pay for Some or All of Your Long-Term Care Expenses. Mr. Neufeld is committed to providing practical education to all Floridians through these publications and on his YouTube Channel. He is also proud to serve on the Board of Directors and Executive Committee of the Academy of Florida Elder Law Attorneys.

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Michael A. Lampert
Attorney
The Law Offices of Michael A. Lampert, PA

Mr. Lampert is a Florida Bar Board Certified tax lawyer in private practice in West Palm Beach, Florida where he concentrates his practice in the areas of taxation and business and estate planning and administration, with an emphasis on tax controversy matters.

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Description

Qualifying for Medicaid often requires accelerating expenditures, or spending down, to reduce an applicant's countable resources to an eligible level. The use of a personal services contract is one technique for spending down assets. Under a properly drafted contract, the elder client will receive fair value for services provided, and the amount to be paid under the agreement is excluded when determining Medicaid eligibility.

Personal services contracts in this context raise unique considerations. Elders and their family members who enter such contracts may not realize that payments to the caregiver are taxable income. The form of payment the caregiver will receive depends upon the types of assets the elder has and how liquid or marketable those assets are. Further, elders may be concerned that the caregiver--often a family member--may not provide the services agreed to.

Counsel with elderly clients applying for Medicaid must ensure that the services provided by the caregiver are fairly and reasonably valued to avoid triggering a transfer penalty. In addition, counsel must understand the implications of various forms of payment, whether assets should be transferred to a third party under an escrow arrangement, and the tax implications of such decisions.

Listen as our expert panel discusses strategies for structuring family caregiver contracts, forms of payment for services, when to consider an escrow agreement, and other important considerations.

Outline

  1. Family caregiver contracts: overview
  2. Valuation of services provided
  3. Form of payment
    • Installments vs. lump sum
    • Escrow agreements
  4. Other considerations
    • Tax implications
    • Interplay with an existing estate plan
    • Caregivers who are receiving needs-based government benefits

Benefits

The panel will review these and other issues:

  • What are the key benefits to Medicaid applicants of using a personal services contract?
  • How can the parties determine a fair rate to pay on a personal services contract?
  • What restrictions and risks are associated with personal services contracts?
  • Can a caregiver who is receiving government benefits be paid as a caregiver on a personal services contract without jeopardizing the caregiver's benefits?