Protecting Assets While Qualifying for Medicaid

Agenda / Content Covered

1. Applying for Medicaid - The Four Eligibility Requirements
   9:00 - 10:00, Vivian Garrastegui
   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
   10:15 - 11:00, Vivian Garrastegui
   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
   11:00 - 12:00, Stephen E. Diamond
   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
   12:00 - 1:00, Debby Rosenfeld
   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
   2:00 - 3:15, Stephen E. Diamond
   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, Stephen E. Diamond
   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:

Stephen E. Diamond is a partner in the law firm of Stenger, Diamond & Glass, LLP. He practices primarily in the areas of estate planning and administration, business formation and transactions, real estate, and elder law issues. Mr. Diamond is past chairman of and current legal counsel to the Dutchess County Regional Chamber of Commerce; and a past member of the Board of Directors of The Community Foundation of Dutchess County. He is a frequent lecturer on the topics of estate and retirement planning, and elder law issues. Mr. Diamond is admitted to practice in New York, Florida, and Massachusetts. He earned his J.D. degree from Pepperdine University and his LL.M. degree in taxation from the University of Florida.

Ronald Fatoullah is the principal of the New York based law firm of Ronald Fatoullah & Associates, where he practices in the areas of elder law, estate planning, Medicaid planning, trusts, wills, guardianships, and estate administration. Mr. Fatoullah is the current president of the New York Chapter of the National Academy of Elder Law Attorneys. He also serves on the Executive Committee of the Elder Law and Special Needs Section of the New York State Bar Association, the Executive Council of AARP New York, and currently co-chairs the Board of the Alzheimer’s Association Long Island Chapter. Mr. Fatoullah is a partner of AdvicePeriod, a financial planning and wealth management firm where he focuses on strategies to assist high net worth individuals. He is a fellow of the National Academy of Elder Law Attorneys. Mr. Fatoullah earned his B.A. degree, summa cum laude, from the State University of New York at Buffalo; and his J.D. degree from St. John's University School of Law.

Vivian Garrastegui is a partner with Schneider Garrastegui & Fedele PLLC, and previously an adjunct professor for graduate studies at Adelphi University. She has more than 35 years of experience in the areas of Elder Law; Trusts and Estates; Medicaid planning, Medicaid applications, and Medicaid Fair Hearings; probate and administration proceedings; and all phases of contested and uncontested guardianship proceedings. Ms. Garrastegui is an OCA Part 36 list fiduciary and has been appointed as a court examiner, court evaluator, guardian, and attorney for the incapacitated person in guardianship proceedings by the Appellate Division of the First and Second Departments. She is admitted to practice in New York State and the U.S. District Court for the Southern and Eastern Districts of New York. Ms. Garrastegui is a member of  National Academy of Elder Law Attorneys, the Suffolk County Bar Association, New York State, and Nassau County Bar Associations. She is on the board of the Long Island Hispanic Bar Association. She earned her B.A. degree, cum laude, from Long Island University and her J.D. degree from Brooklyn Law School. She is fluent in Spanish.

Debby Rosenfeld is an attorney with Ronald Fatoullah & Associates, where she practices in the areas of elder law, estate planning and real estate. Ms. Rosenfeld is admitted to practice in New York. She lectures, as well as writes articles on various elder law issues for both attorneys and laypeople. Ms. Rosenfeld earned her B.A. degree from Barnard College of Columbia University and her J.D. degree from New York University School of Law. She is a member of the New York State and Nassau County bar associations.