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Live Seminar

Medicaid Planning: The Ultimate Guide

Seminar

Date:

2 Day Seminar
Wednesday, June 21, 2017 -
Thursday, June 22, 2017

Time:

9:00 AM - 4:30 PM

Product ID#:

75865ER

Location:

Illinois Business & Industry Services
1100 East Warrenville Road, Suite 150
Naperville, IL 60563

$575.00

$565 / Each Additional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • IL CLE - 12.00

CPE for Accountants

  • CPE for Accountants/NASBA - 14.00

Other

  • Financial Planners - 14.00

Program Description

Get the Latest on Medicaid Asset Planning Tactics

Middle class Americans seeking asset protection cannot afford to ignore the potentially devastating costs of nursing home and other long-term care. Nursing homes are among the most common and largest creditors an average American is likely to face in his or her lifetime, but only about 10% of the population has long-term care insurance. For the other 90%, Medicaid is the primary source of payment, so 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 elder law 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!

  • Learn what the income eligibility requirements are when applying for Medicaid.
  • Protect your clients' interests by knowing what's exempt and what's not.
  • Employ the most practical and effective asset transfer methods to comply with the spend-down requirement.
  • Explore crisis planning methods to restore Medicaid benefits as quickly as possible.
  • Understand what's recoverable under Medicaid estate recovery rights and how it can be mitigated.

Who Should Attend

This basic-to-intermediate level seminar is designed for:

  • Attorneys
  • Nursing Home Administrators
  • Social Workers
  • Geriatric Care Managers
  • Trust Officers
  • Accountants and CPAs
  • Estate and Financial Planners
  • Paralegals

Course Content

DAY 1

  1. Applying for Medicaid - Eligibility Requirements
  2. Illinois Medicaid Updates
  3. Pre-Need Planning Part 1: Excluded vs. Countable Assets
  4. Pre-Need Planning Part 2: Protecting Assets
  5. Crisis Planning Part 1: Asset Purchase and Transfer Strategies
  6. Crisis Planning Part 2: Community Spouse Resource Allowance, CSRA Appeals, and Undue Hardship Waivers

DAY 2

  1. Trust-Based Medicaid Planning
  2. Using Income-Only Trusts While Qualifying for Medicaid
  3. Using Special Needs Trusts - Sample Trust Review
  4. Top 10 Medicaid Misconceptions
  5. Medicaid Estate Recovery: What Can They Get?
  6. Applied Legal Ethics

Continuing Education Credit


Continuing Legal Education – CLE: 12.00 *

Financial Planners – Financial Planners: 14.00

National Association of State Boards of Accountancy – CPE for Accountants: 14.00 *

* denotes specialty credits

Agenda / Content Covered

DAY 1

  1. Applying for Medicaid - Eligibility Requirements
    9:00 - 10:00, Shirley A. Ramadani
    1. Needs-Based Benefits: SSI, Medicaid, VA, etc. - Coverage and Criteria Compared
    2. Categorical Eligibility
    3. Medical Eligibility: The Needs Assessment
    4. Income and Resource Eligibility
    5. Transfer Eligibility: The Lookback and Penalty Periods
    6. Affordable Care Act and the Effect of Medicaid Expansion
    7. Estate Recovery Rules
  2. Illinois Medicaid Updates
    10:15 - 11:15, Shirley A. Ramadani
  3. Pre-Need Planning Part 1: Excluded vs. Countable Assets
    11:15 - 12:15, Mollie A. Whitehead
  4. Pre-Need Planning Part 2: Protecting Assets
    1:15 - 2:15, Mollie A. Whitehead
    1. Medicaid Planning for Single vs. Married Applicants
    2. Transferring Real Property Without Jeopardizing Medicaid Eligibility
    3. Life Estates
    4. Asset Valuation - Fair Market Value Under DRA
    5. Using Life Insurance to Spend Down
    6. Interstate Transfers
    7. Protecting Veterans Benefits
    8. The Gifting Powers in Powers of Attorney
  5. Crisis Planning Part 1: Asset Purchase and Transfer Strategies
    2:15 - 3:15, Nancie G. Dorjath
    1. Purchases and Payments
    2. How to Transfer Residence
    3. Caregiver Agreement Between Parent and Child
    4. Monthly Maintenance Need Allowance (MMMNA) for the Community Spouse
    5. Annuity Transfer Rules and Tactics
  6. Crisis Planning Part 2: Community Spouse Resource Allowance, CSRA Appeals, and Undue Hardship Waivers
    3:30 - 4:30, Nancie G. Dorjath

DAY 2

  1. Trust-Based Medicaid Planning
    9:00 - 10:00, Judith Schening
    1. Is a Trust Needed?
    2. Common Trust Structures Used in Medicaid Planning
    3. Choosing the Assets for Funding the Trusts
    4. Self-Settled Trusts and Their Impact on Eligibility
  2. Using Income-Only Trusts While Qualifying for Medicaid
    10:15 - 11:15, Morris R. Saunders
    1. Purpose of Using IOTs
    2. Principal Distribution Provision
    3. Taxation of IOTs
  3. Using Special Needs Trusts - Sample Trust Review
    11:15 - 12:15, Morris R. Saunders
    1. When Can SNTs be Used?
    2. Drafting an SNT - Common Mistakes to Avoid
    3. Documenting the Assets Transfer Into the Trust
    4. Choosing a Suitable Trustee
    5. Sample Special Needs Trust Document Review
  4. Top 10 Medicaid Misconceptions
    1:15 - 2:15, Michael H. Erde
    1. Medicare vs. Medicaid
    2. Federal Gift Tax vs. Medicaid Transfer Rules
    3. Nursing Homes vs. Assisted Living Facilities
    4. Why Revocable Living Trusts (RLTs) DO NOT Work
    5. Why Long-Term Care Insurance IS NOT a Substitute for Medicaid Planning
    6. Problems with Gifting the Principal Residence to the Children
    7. What Should the Clients Disclose to the Nursing Home?
    8. Why it is Not Too Late to Protect Assets AFTER Nursing Home Entry
    9. Why Most Powers of Attorney are Inadequate
  5. Medicaid Estate Recovery: What Can They Get?
    2:15 - 3:15, Melissa C. Pennuto
    1. Authorization of Medicaid Estate Recovery: Constitutionality, Federal Pre-Emption, Exemptions
    2. What's Recoverable? Definition of Estate and Tests Applied
    3. Recovery from Medicaid Recipient vs. Spouse
    4. Conflict of Laws: Joint Tenancy, Contract Law, Trust Law
    5. Interests in Life Estates at Death
    6. Interests in IRAs and Other Qualified Accounts
  6. Applied Legal Ethics
    3:30 - 4:30, Elizabeth M. Fink
    1. Avoiding Conflicts of Interest (Who is Your Client?)
    2. Dealing with Clients' Diminishing Mental Capacity
    3. Spotting and Preventing Elder Abuse
    4. Appropriate Client Communications
    5. Navigating Through Family Conflict
    6. Setting and Collecting Attorney Fees

NANCIE G. DORJATH is an attorney with the Dorjath Law Center. She focuses on handling many different aspects of elder law and estate planning, such as long term care planning, nursing home or assisted/supportive living, nursing home contract review, Medicaid crisis planning, Medicaid appeals, revocable trusts, irrevocable trusts, wills, living wills, powers of attorney, asset protection planning, veterans benefits planning, and special needs planning. Ms. Dorjath applies her professional and personal experience, along with her legal expertise, to advise her clients and their families how to achieve the highest quality of life whether a client is long term planning or crisis planning. She is dedicated to working hard for individuals in order to protect their assets and plan for an uncertain future. Ms. Dorjath is a VA accredited attorney who also does a great deal of work handling many different aspects within the elder law and estate planning community. She earned her undergraduate degree from Loyola University of Chicago and her J.D. degree from John Marshall Law School in Chicago. Ms. Dorjath is a member of the National Academy of Elder Law Attorneys (NAELA), ElderCounsel, and the National Care Planning Council. She is an adjunct professor at Concordia University of Chicago teaching medical ethics, and is a frequent speaker on ethics and elder law topics.

MICHAEL H. ERDE is the principal in the North Side Chicago law firm of Michael H. Erde, P.C., where he focuses his practice on estate planning, elder law, probate and trusts. He is certified as an elder law attorney by the National Elder Law Foundation. Mr. Erde is a member of Greater North Shore Estate Planning and Financial Planners Council, and the National Academy of Elder Law Attorneys. He has been an instructor/lecturer and given seminars for many years on estates, trusts, elder law, asset protection, Medicaid, and special needs. Mr. Erde was an adjunct professor at John Marshall Law School, where he taught classes on elder law. He has written numerous articles on wills, trusts, and elder law issues. Mr. Erde earned his B.S.B.A. degree from Washington University, his J.D. degree from the University of Illinois, and has graduate credits in taxation from The John Marshall Law School. He founded the Asset Protection Committee of the Chicago Bar Association, and is a member of the Probate Committee of the local bar.

ELIZABETH M. FINK is a partner at WhiteheadFink Elder Law LLC, in Chicago, Illinois, where she practices in the areas of estate and trust administration, guardianship, Medicaid planning, estate planning, and elder law. Ms. Fink is a member of the Chicago Bar Association (Elder Law Committee and Probate Practice Committee); a former mentor with the CBA group mentoring program in probate and estates; a board member of the National Academy of Elder Law Attorneys, Illinois Chapter; and co-chair of the Education Committee of the National Academy of Elder Law Attorneys, Illinois Chapter. She earned her B.A. degree from Denison University and her J.D. degree from The John Marshall Law School.

MELISSA C. PENNUTO is an attorney with A/Z Health, Trust & Elder Law, LLC, where she concentrates her practice in estate planning, trust administration, estate administration, elder law, Veterans assistance benefits, guardianship, probate, medical assistance planning and application, and asset conservation planning. She is a member of the DuPage County Bar Association (member, Elder Law, Estate Planning and Probate, New Attorneys, and Lawyers Lend a Hand), Women's Bar Association of Illinois, Illinois State Bar Association, and the Chicago Bar Association. Ms. Pennuto also is an accredited attorney with the U.S. Department of Veterans Affairs. She earned her B.A. degree from Northwestern University and her J.D. degree from The John Marshall Law School.

SHIRLEY A. RAMADANI joined Delaney Delaney & Voorn, Ltd., where she practices in the areas of elder law, probate, guardianship and long-term planning. She is a certified elder law candidate, a member of the Illinois State Bar Association, and has served on the ISBA Military Affairs Committee, and has been a volunteer with Cook County Probate Circuit Court, and with Wills for Heroes for the last seven years. Ms. Ramadani received her J.D. degree from Western Michigan University Thomas M. Cooley Law School. She is admitted to both the Illinois and federal bars.

MORRIS R. SAUNDERS is a partner in the Chicago law firm of Levin & Ginsburg Ltd. He concentrates his practice in the areas of wealth management, asset protection, estate planning, business planning and taxation law, real estate, ownership and management succession, and deferred compensation. Mr. Saunders also deals extensively in business succession and in the negotiation and preparation of commercial real estate and equipment leases and other business agreements. He is a member of the Chicago Estate Planning Counsel and the Chicago Bar Association. Mr. Sanders has spoken to various professional and community groups about estate planning, trusts, estates, business succession planning, and deferred compensation. He earned his B.A. degree from the University of Virginia; his J.D. degree from The John Marshall Law School; and his LL.M. degree from DePaul University.

JUDITH SCHENING concentrates her practice on areas relating to estate planning and probate, and is dedicated to providing her clients with experienced legal advice regarding both will-based and trust-based estate plans, powers of attorney, advance health directives, and related estate planning areas. Her goal is to design an estate plan that meets her client’s unique and individual needs, desires, and concerns, which are identified and discussed in personal meetings between the client and her. Ms. Schening’s solo law practice is designed to provide high-quality legal services at an affordable cost. She is a member of WealthCounsel, a collegial organization of approximately 2,500 estate planning attorneys nationwide. Ms. Schening earned her J.D. degree from Northern Illinois University College of Law, and is licensed to practice in Texas (inactive) and Illinois. She is a member of the American Bar Association, the Illinois State Bar Association, Kane County Bar Association, and the Texas State Bar Association.

MOLLIE A. WHITEHEAD is a partner at WhiteheadFink Elder Law LLC, in Chicago, Illinois. She has been representing clients in the areas of estate planning, probate, guardianships, Medicaid planning, elder law, and trust administration for more than eight years. Ms. Whitehead regularly appears in court hearings for probate and guardianship cases in Cook County Circuit Court, Probate Division. She is a member of the Chicago Bar Association (member, Elder Law Committee and Probate Practice Committee), National Academy of Elder Law Attorneys (NAELA), and the Illinois Chapter of NAELA. Ms. Whitehead earned her B.A. degree, magna cum laude and with honors, from Illinois Wesleyan University; and her J.D. from American University, Washington College of Law.

Please refer to Continuing Education Credit FAQ for general information about seeking credit for your participation in one of our continuing education programs.

Additionally, our team of credit specialists are here to answer your specific credit-related questions weekdays 7am - 5pm Central:

Phone: 866-240-1890

Email: credit@nbi-sems.com


Accreditation Details

Continuing Legal Education

IL CLE: 12.00 Including - Ethics: 1.00
This program has been approved by the Illinois MCLE Board for 12.0 hours of CLE credit, which includes approval for 1.0 hour of applied legal ethics CLE credit by the Illinois Supreme Court Commission on Professionalism.



Financial Planners

N CF: 14.00
This program has been accepted by the Certified Financial Planner Board of Standards Inc. and qualifies for 14.0 hours of CE credit for CFP® Certificants. The Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) and CFP® (with flame design) in the US, which it awards to individuals who successfully complete initial and ongoing certification requirements.

Upon completion of this course, attendee will be able to: 1. Recall the key Medicaid eligibility criteria. 2. List one Medicaid update. 3. List three assets that are exempt. 4. Explain how to transfer real property without jeopardizing Medicaid eligibility. 5. List at least three asset transfer strategies that can be employed in Medicaid crisis planning. 6. Describe how to handle CSRA appeals. 7. Describe common trust structures used in Medicaid planning. 8. Describe how income-only trusts are used in Medicaid planning. 9. Determine when a special needs trust is needed. 10. List three Medicaid misconceptions. 11. Explain what CMS can recover from the Medicaid recipient's estate. 12. Distinguish between ethical and unethical practices.


National Association of State Boards of Accountancy

N NAS: 14.00 Including - Administrative Practice: 12.00, Regulatory Ethics: 1.00, Taxation: 1.00
NBI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org. This program is designed to qualify for 14.0 hours (based on 50 minute credit hour) of continuing professional education credit for accountants. For more information regarding administrative policies such as complaint and refund, please contact our offices at (800) 930-6182.

This is a basic to intermediate level program presented in a group live setting. Accountants should have a basic understanding of the Medicaid asset protection process. This course will: 1. Recall the key Medicaid eligibility criteria. 2. List one Medicaid update. 3. List three Medicaid misconceptions. 4. List three assets that are exempt. 5. Explain how to transfer real property without jeopardizing Medicaid eligibility. 6. List at least three asset transfer strategies that can be employed in Medicaid crisis planning. 7. Explain how to contest penalty period dates. 8. Describe how to handle CSRA appeals. 9. Describe common trust structures used in Medicaid planning. 10. Describe how income-only trusts are used in Medicaid planning. 11. Determine when a special needs trust is needed. 12. Describe the tax implications of Medicaid trusts. 13. Explain what CMS can recover from the Medicaid recipient's estate. 14. Distinguish between ethical and unethical practices. Field(s) of Study -- Taxation; Administrative Practice; Regulatory Ethics.

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