Safeguard the Financial Future of Elderly Clients
A basic understanding of the Medicaid asset protection process is vital for all professionals who work with seniors and their families. This course will provide an overview of asset protection concepts and strategies that attorneys can use to legally and ethically protect assets while facilitating earlier Medicaid eligibility; and a set of crisis-management tools to prevent and correct inadvertent loss of benefits. Register today!
- Receive an overview of the process and procedures, current trends and legislative developments.
- Assess how to develop an overall Medicaid planning strategy.
- Learn how to strategically pre-plan for Medicaid before the need arises.
- Get asset transfer methods to comply with the spend-down requirement.
- Learn the fundamentals of how to protect your client's assets.
- Identify how to structure trusts to plan for Medicaid.
- Help clients when the need is immediate: explore crisis planning methods to restore Medicaid benefits as quickly as possible!
- Protect your clients' interests by quickly knowing what's exempt and what's not.
- Virginia Medicaid Eligibility and Program Overview
9:00 - 10:30, Joshua E. Bushman
- Medicaid Update, Current Trends and Legislative Developments
- Overview of the Process and Procedures
- How is it Administered?
- Medical Eligibility: The Needs Assessment
- Resource Eligibility: Exempt vs. Countable Assets
- Income Eligibility
- Transfer Eligibility
- The Lookback Periods
- Transfers and Penalty Periods
- Estate Recovery Rules
- Affordable Care Act Eligibility
- Top Pre-Planning Tools: How to Protect Your Client's Assets (With Real-Life Examples)
10:45 - 12:00, Yahne Miorini
- How to Pre-Plan for Medicaid Before the Need Arises
- Excluded Assets by Their Nature
- Excluded Assets by Exception
- Life Estate
- Certain Life Insurance
- Promissory Notes
- Certain Trusts
- Exempted Transfers and Their Tax Implication
- Caregiver Agreement
- Spousal Transfers and Spouse Refusal
- Other Exempted Beneficiaries
- Gifting, Penalty Period and Tax Implication
- How to Structure Trusts to Plan for Medicaid: Step-by-Step
1:00 - 1:45, Yahne Miorini
- Asset Protection Trusts Options for Seniors
- Choosing the Assets for Funding the Trust
- Monitoring the Trust Administration and Subsequent Transfers
- Key Provisions and Sample Trust Language
- Tax Implications
- Medicaid Crisis Planning - Helping Clients When the Need is Immediate!
1:45 - 3:15, Joshua E. Bushman
- Asset Purchase vs. Transfer Strategies
- How to Transfer Residence
- Gifts for Transfers of Assets
- Spousal Hardship Waiver
- Handling Red Flags from the Past
- Using Annuities and Promissory Notes
- Protecting Assets While Avoiding Penalties
- Last Minute Medicaid Planning Tips
- How to Contest the Penalty Period Dates
- How to Uphold Ethical Standards
3:30 - 4:30, Constance S. Bourne
- Spotting and Preventing Elder Abuse
- Appropriate Client Communications
- Navigating Through Family Conflict
- Avoiding Conflicts of Interest
- Dealing with Clients' Diminishing Mental Capacity
- Setting and Collecting Attorney Fees
This basic-to-intermediate level seminar is designed for:
- Nursing Home Administrators
- Social Workers
- Geriatric Care Managers
- Trust Officers
- Accountants and CPAs
- Estate and Financial Planners