In a recent case out of Massachusetts, the state Supreme Judicial Court (SJC) heard oral arguments surrounding the application of 42 U.S.C. 1396p(c)(2)(B)(i), also known as the “sole benefit provision” and 42 U.S.C 1396p(c)(F)(i), the “beneficiary naming provision,” related to annuities. The argument focused on whether the Commonwealth must be named the primary beneficiary … Continued
When completing a Medicaid spend-down, one asset that may cause hesitation is how best to spend down the client’s IRA without incurring large tax consequences. In states where an IRA is considered a countable asset for Medicaid purposes, the solution may be converting the existing IRA to a tax-qualified MCA. Learn More: What … Continued
Attorney Access has become an invaluable Medicaid planning resource for many attorneys and legal professionals in the elder care planning space. As more seniors find themselves in a crisis Medicaid planning scenario, more elder law attorneys have relied on the information and resources provided through their Attorney Access account. That’s why it has become … Continued
Adding elder law to your practice doesn’t have to be hard or confusing. If you already practice in the areas of estate planning and/or family law, elder law is an easy extension. Elder law primarily focuses on the needs of elderly clients and is sometimes wrongly associated as a practice area that only helps … Continued
When it comes to paying for long-term care, there are typically three primary payment sources. The applicant must either pay for their care out-of-pocket, obtain Long-Term Care Insurance (LTCI), or apply for Medicaid. Many clients who purchase LTCI often wonder what they can do to prevent a crisis scenario if they exhaust their policy … Continued
If you are new to Medicaid planning or just starting to incorporate Medicaid Compliant Annuities into your practice, the amount of information you are expected to take in can seem a bit overwhelming. That’s why we wanted to consolidate the top ten questions we receive most frequently in the hopes of answering some of … Continued
The last stage of completing a Medicaid crisis plan is submitting the Medicaid application. Completing and filing the Medicaid application can be a cumbersome and tedious process. To help alleviate some of the confusion, we wanted to share some tips with you regarding completing and submitting the Medicaid application to ensure your client can … Continued
There is no shortage of resources when it comes to finding information about Medicaid planning. However, locating a reliable resource for these resources can be challenging. For over 30 years, we’ve been a trusted source for Medicaid planning products, strategies, and tips for many elder law attorneys. Make sure you’re using these top five … Continued
In order to gain a better understanding of the Medicaid program itself, it is helpful to first realize how Medicaid has transformed over the years into the program it has become today. To do so, we will examine the early years of the Medicaid program exploring how this long-term care health plan was implemented … Continued
When it comes to choosing between a Promissory Note or a Medicaid Compliant Annuity (MCA), there are many factors to consider when determining which spend-down strategy will best serve your client. Both tools must adhere to the specific conditions as set forth in the DRA of 2005 and, when structured and administered properly, both … Continued