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

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.

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 complicated 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.

Fundamental approaches include making countable assets unavailable and leveraging the use of the CSRA and MMMNA. Other strategies include transferring the sick spouse's IRA/retirement funds to the healthy spouse, having a valid, well-crafted 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 speakers 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.