BarbriSFCourseDetails
  1. keyboard_arrow_leftBack

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, August 21, 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 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.

Faculty

Kyla G. Kelim
Attorney
Aging in Alabama

Ms. Kelim focuses her practice on proactive planning involving those in need concerning Medicaid, Medicare and Social Security. She is a nationally recognized speaker on nursing home Medicaid, Medicare and Social Security disability matters. She launched Aging in Alabama to help address the crisis in health care coverage facing seniors and their caregivers.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio
Jeffrey L. Williamson
Founder
J. L. Williamson Law Group, LLC

Mr. Williamson’s practice specializes in taxation and estate planning. He has particular expertise in estate and gift taxation, income taxation of partnerships, and taxation issues unique to tax-exempt entities. He is also knowledgeable in the federal and state Medicaid rules and is skilled at drafting trusts and other types of sophisticated agreements.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio

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 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.

Outline

  1. Introduction to Medicaid Qualification
    1. Income Qualifications
      1. Individual Income Limits
      2. Monthly Maintenance Needs Allowance (MMNA)
    2. Asset Qualifications
      1. Single resource limit
      2. Community Spouse Resource Allowance
  2. Pre-planning vs. Crisis Planning
    1. Transfers within the 60-month Look-back period
      1. Exempt Transfers
      2. Non-exempt Transfers
    2. Irrevocable Trusts
      1. Grantor trust
      2. Income provision
      3. Disinheriting sick spouse
    3. Strategic Spenddown
      1. Buying car
      2. Making home repairs
      3. Funeral expenses
    4. Gift & Note Planning
  3. Divorce as a Strategy
  4. Durable Financial Power of Attorney
    1. Gifting provision
    2. Trust provision
    3. Caregiver Provision

Benefits

The panel will review these and other critical issues:

  • How can the CSRA be optimized for the married client's 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?