This seminar has been designed to take an in-depth look at certain special requirements needed in working with the elderly, including Medicaid planning. It will give a comprehensive review of the laws and financial practices involved, and it will highlight the various options related to working with seniors. Time for questions and answers will be given.
- The problem of paying for long-term care
- A guide to long-term care insurance and Medicaid
- Overview of the Medicaid Program and ALTCS benefits
- Medicaid planning and grantor trusts
- New ALTCS lien rules
- The attendee will be able to discuss the clients ability to pay for care.
- The attendee will be able to identify the client and the ethics of Medicaid planning.
- The attendee will be able to review the rules of recovery in estates.
8:30 a.m. - 9:00 a.m.
I. The Problem Of Paying For Long-Term
A. Typical Elderly Client Profile
B. Probability Of Needing Long-Term Care And Sources Of Payment
9:00 a.m. - 9:30 a.m.
II. Identifying Your Client And The Ethics
Of Medicaid Planning
A. Identifying Your Client
1. The Family Conference
2. When The Person Needing
Care Is Mentally Incapacitated
B. The Ethics Of Medicaid Planning
1. Is It Illegal?
2. Is It Immoral?
9:30 a.m. - 9:50 a.m.
III. Assessing The Client's Ability To Pay
A. Comparing Income And Expenses
B. Decreasing Expenses: Finding More Affordable Care
C. Increasing Income: Better Investments, Reverse Mortgages And Viatical Settlements
9:50 a.m. - 10:00 a.m.
10:00 a.m. - 11:30 a.m.
IV. A Guide To Long-Term Care Insurance
A. Current Tax Status Of LTC Premiums
B. Review Medicare – Past, Present And Future
C. Long-Term Care Definitions
D. Types Of Long-Term Care Insurance
E. Benefit Triggers And LTCI Riders
F. Policy Pricing And Field Underwriting
G. What Benefits, For Whom And How Much!
11:30 a.m. - 11:45 a.m.
V. Overview Of The Medicaid Program
And ALTCS Benefits
A. Overview Of The AHCCCS And ALTCS Programs
B. Available Benefits Of The ALTCS Program
11:45 a.m. - 12:45 p.m.
Lunch (On Your Own)
12:45 p.m. - 1:30 p.m.
VI. Medicaid (ALTCS) Eligibility
A. Medical Eligibility
B. Financial Eligibility
1. Income (Including Income
3. Share Of Cost
4. Application Process
1:30 p.m. - 2:20 p.m.
VII. Medicaid Planning For Eligibility
A. Purchase Of Excluded Resources
B. The Problem Or Fortune of A House In A Living Trust
C. Transferring Assets To Individuals: Penalties And Exclusions
D. Use Of Annuities
1. Deferred Annuities: Problems And Preferred Options
2. When And Why Single Premium
Immediate Annuities Are Useful
E. Other Strategies
1. Payment For Services By
2. Jointly Held Land Or Investment
3. Conditional Exclusion For
Certain Real Property
4. Savings Bonds
2:20 p.m. - 2:30 p.m.
2:30 p.m. - 3:00 p.m.
VIII. Medicaid Planning And Grantor Trusts:
Resource Availability And Transfers
A. Grantor Revocable Trust
B. Grantor Irrevocable Trust (Non-Special Treatment)
3:00 p.m. - 3:15 p.m.
IX. Special Needs Trusts
A. Special Needs Trust Established With Parent's Funds For A Disabled Child
B. Special Needs Trust For A Disabled Person Under Age 65 Established With A Disabled Person's Fund
3:15 p.m. - 4:15 p.m.
X. Estate Recovery By The ALTCS Program
And Protecting The Family Home/
Including New ALTCS Lien Rules
A. Rules Of Recovery
B. Strategies For Avoiding Estate Recovery, And ALTCS Disqualification Because Of Spousal Inheritance: Life Estate Deed With Retained Powers, The New Beneficiary Deed, Separate Property Agreements And Will With Testamentary Trust
4:15 p.m. - 4:30 p.m.