Protecting Assets While Qualifying for Medicaid

Agenda / Content Covered

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1. Applying for Medicaid - The Four Eligibility Requirements
   9:00 - 10:00, Melissa R. Victor
   1. Medical Eligibility: The Needs Assessment
   2. Resource Eligibility: Exempt vs. Countable Assets
   3. Income Eligibility
   4. Transfer Eligibility
      1. The Lookback Periods
      2. Transfers and Penalty Periods
         1. Transfer Penalty
         2. Penalty Beginning Date
         3. Partial Months of Ineligibility
         4. Monthly Maintenance Need Allowance (MMMNA) for the Community Spouse
         5. Annuity Transfer Rules and Tactics
   5. Estate Recovery Rules
   6. Current Medicaid Planning Programs and Rules
2. Pre-Need Asset Planning
   10:00 - 11:00, Eric R. Oalican
   1. Medicaid Planning for Single vs. Married Applicants
   2. Transferring Real Property without Jeopardizing Medicaid Eligibility
      1. When Does the Home Become a Countable Asset?
      2. How is "Intent to Return Home" Interpreted?
      3. Titling of the Home and Basic Homestead Issues in a Medicaid Planning Context
   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
3. Crisis Planning and Assistance
   11:15 - 12:15, Eric R. Oalican
   1. Asset Purchase Strategies Available
      1. Purchases
      2. Payments
   2. Asset Transfer Strategies Available
      1. How to Transfer Residence to Caregiver Child
      2. How to Transfer Residence to Sibling with Equity Interest Who's Resided There for at Least One Year
      3. How to Transfer Residence Subject to Life Estate
      4. How to Transfer Residence Subject to Occupancy Agreement
      5. Caregiver Agreement Between Parent and Child
   3. Contesting/Appealing the Penalty Period Dates and Other Adverse Medicaid Decisions
4. Trust-Based Medicaid Planning in Detail
   1:15 - 2:15, Eric R. Oalican
   1. Choosing the Assets for Funding the Trusts
   2. Key Provisions and Sample Trust Language
   3. Self-Settled Trusts and Their Impact on Eligibility
   4. Using Income-Only Trusts
      1. Purpose of Using IOTs
      2. Principal Distribution Provision
      3. Taxation of IOTs
         1. Income Taxation and Tax Reporting
         2. Gift Tax and Reporting
5. Using Special Needs Trusts - Sample Trust Review
   2:30 - 3:30, Faith E. Delaney
   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
6. Applied Legal Ethics
   3:30 - 4:30, Michael Couture
   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

MICHAEL COUTURE is a partner with Vidoli Couture, LLP, practicing in the areas of public benefits eligibility, probate matters and estate planning. He is a member of Boston and Massachusetts bar associations, Boston Estate Planning Council, and National Academy of Elder Law Attorneys (Massachusetts Chapter). Mr. Couture earned his B.S. degree from Arizona State University and his J.D. degree from Suffolk University Law School.

FAITH E. DELANEY is a graduate of Northeastern University School of Law. She has been an attorney practicing estate planning and elder law for 26 years. She is a member of the National Academy of Elder Law Attorneys, serving on the board for both the Massachusetts and New Hampshire chapters, and the Massachusetts and the New Hampshire bar associations. Ms. Delaney serves as fiduciary for elderly and disabled persons and trustee of trusts.

ERIC R. OALICAN is the founding partner of Oalican Law Group, LLC. Mr. Oalican is a recognized expert in asset protection planning for elderly clients and those with a disability. He represents clients in Greater Boston and manages the firm’s Southeastern Massachusetts office in Raynham. Mr. Oalican is a frequent lecturer on elder law issues and chairs the Massachusetts Continuing Legal Education and Massachusetts Bar Association’s annual elder law programs. He received his B.A. degree from the University of Massachusetts and his J.D. degree from Washington College of Law. Mr. Oalican has been voted a Super Lawyer in elder law by New England attorneys since 2005. He is a former member of the Board of Directors of the Massachusetts Chapter of the National Academy of Elder Law Attorneys.

MELISSA R. VICTOR is an attorney with the law firm of Victor & Associates in South Easton, Massachusetts. Ms. Victor practices in the areas of estate planning, probate, trust administration, guardianships, elder law, Medicaid, and real estate. She earned her B.S. degree from State University of New York at Oswego and her J.D. degree from New England School of Law. Ms. Victor is admitted to practice law in both the Commonwealth of Massachusetts and the State of New York. She is a former adjunct professor from New England Law School, Boston, where she taught "Wills, Estates and Trusts II" and "Massachusetts Estate and Trust Administration." She is a also member of the National Academy of Elder Law Attorneys and Massachusetts Chapter of the Academy of Elder Law Attorneys. Ms. Victor has presented hundreds of seminars for financial institutions and non-profits.