Protecting Assets While Qualifying for Medicaid

Agenda / Content Covered

1. Applying for Medicaid - The Four Eligibility Requirements
   10:00 - 11:00, Emma R. Hemness
   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
2. Pre-Need Asset Planning
   11:15 - 12:15, Emma R. Hemness
   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. Revocable vs. Irrevocable 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
   12:15 - 1:15, John R. Bennett
   1. Asset Purchase Strategies Available in Most States
      1. Purchases
      2. Payments
   2. Asset Transfer Strategies Available in Most States
      1. How to Transfer Residence to Caregiver Child
      2. How to Transfer Residence to Sibling on Title for More Than a 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
4. Trust-Based Medicaid Planning in Detail
   1:45 - 2:45, Thomas J. Murphy
   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
   3:00 - 4:00, Thomas J. Murphy
   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
   4:00 - 5:00, Horace Nation
   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

Accreditation Details:

John R. Bennett , of counsel to Eldreth Law Firm, PLLC, serves clients in eastern and central North Carolina. His practice focus is Medicaid and estate planning, and qualifying clients for Medicaid long term care assistance. Mr. Bennett served as an adjunct professor at Wake Forest University School of Law, where he taught the estate planning course. He also served as an adjunct professor at Wake Forest University School of Accountancy, where he taught estate and gift tax in the Graduate Accounting Program. Mr. Bennett has been a presenter and course planner for numerous bar association courses, including the review course for lawyers seeking to be designated as a specialist in estate planning and probate law. He has served on the North Carolina Bar Association's Continuing Education Committee for the Estate Planning Section. Mr. Bennett earned his M.B.A. degree from the University of Virginia Darden School of Business; his undergraduate degree from the University of the South; his J.D. degree from Wake Forest University School of Law; and his Masters of Law in taxation from the tax program at the University of Florida School of Law.

Emma R. Hemness is the founder of the Law Office of Emma Hemness PA, located in the Tampa Bay area where she focuses her practice in the areas of elder law, estate planning, and special needs law. She is board certified in elder law by The Florida Bar, and is also nationally board certified as a CELA by the National Elder Law Foundation. Ms. Hemness is a member of the Public Policy Task Force, National Academy of Elder Law Attorneys, and Special Needs Alliance. She has been accredited by the Veterans Administration since 2008.

Thomas J. Murphy is an attorney located in the Ahwatukee area of Phoenix. His practice emphasizes estate planning, elder law (including nursing home issues), all probate matters (including contested matters and guardianships), and tax controversies. Mr. Murphy has regularly appeared before the Arizona Court of Appeals, litigating many of the cutting-edge appellate cases in probate law. He has successfully litigated cases in the U.S. Tax Court, the Arizona Tax Court, and the Arizona Board of Tax Appeals. Mr. Murphy is a member of the National Academy of Elder Law Attorneys, the State Bar of Arizona (Tax Law, Probate and Trust Law, Mental Health and Elder Law sections), and the Arizona Medicaid Planning Council. He serves on the Advisory Board of the Phoenix Tax Workshop and the Editorial Board of NAELA News. Mr. Murphy graduated from Tufts University, with honors, and earned his J.D. degree from Suffolk University Law School.

Horace Nation is an experienced trial attorney at his practice, The Law Office of H.H. “Chip” Nation, LLC, with a demonstrated history of working in the law practice industry. He is skilled in civil litigation, writing, oral advocacy, motion and trial practice, negotiation, mediation, and appeals. Mr. Nation earned his bachelor’s degree in business administration and management from The University of Alabama and his J.D. degree from Samford University, Cumberland School of Law. He is authorized to practice law in the state of Alabama.