This basic-to-intermediate level seminar will provide instruction on how to create effective estate plans for elderly clients. The following professionals will benefit from this program: Attorneys, Accountants, Presidents and Vice Presidents, Paralegals, Estate and Financial Planners, Case Managers, Nursing Home Administrators
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Training Course Syllabus:
Protect Your Clients' Assets and Provide the Services They Need
The cost of long-term care can consume a person's assets if a carefully drafted estate plan is not in place. This seminar will give you the skills required to create an estate plan that meets your clients' needs. Become prepared - register today!
Draft an estate plan to secure your clients future using our sample forms and letters.
Ensure that the client's wishes will be carried out - through appropriate asset titling, the will, a durable power of attorney and advanced directives.
Preserve the client's assets through the use of irrevocable trusts, annuities, life insurance, retirement accounts and gifting methods.
Avoid ethical issues when representing elderly and incapacitated clients with due diligence.
What does your client qualify for? Help your clients with their financial and estate planning by learning how to differentiate between Medicare, Medicaid and Long Term Care Insurance.
Don't let excess assets impact Medicaid eligibility: advise clients on how to legally dispose of assets.
HOW TO PAY FOR LONG-TERM CARE 9:00 - 9:15, Ronald Fatoullah
Long-Term Care Insurance
LONG-TERM CARE INSURANCE 9:15 - 10:00, Ronald Fatoullah
What is Long-Term Care Insurance?
Understanding Long-Term Care Insurance Options
The New York State Long-Term Care Partnership Policy
New Partnership Policy Provisions of the Deficit Reduction Act of 2005 ("DRA")
MEDICAID HOME CARE PROGRAM 10:00 - 10:20, Ronald Fatoullah
Treatment of Assets and Income
Pooled Income Trust
MEDICAID NURSING HOME BENEFITS 10:35 - 11:45, Ronald Fatoullah
Asset and Income Levels
Eligibility Rule Prior to the DRA
The Three and Five Year Look-Back
Calculating the Penalty Period Before and After the DRA
WHAT TO DO WHEN A SPOUSE IS CONFRONTING HEALTH ISSUES 11:45 - 12:30, Ronald Fatoullah
Asset Titling - Deed, Bank Accounts, and Life Insurance
Changing the Will and Trust to Exclude the Disabled Spouse
Durable Powers of Attorney - Gift Giving and Other Needed Powers
Advanced Directives - Healthcare Proxies and Living Wills
Avoiding the Pitfalls of Guardianships
Spousal Refusals and Spousal Lawsuits
QUALIFYING A CLIENT FOR MEDICAID 1:30 - 2:00, Marc Alhonte
The Medicaid Interview
What to Ask
Defining the Goals of the Client
Medicaid Need Criteria
Economic Need Criteria
USE OF TRUSTS, ANNUITIES AND OUTRIGHT GIFTS TO PROTECT ASSETS 2:00 - 3:00 Marc Alhonte
Drafting the Irrevocable Trust
Impact of Medicaid Issues in Drafting Trusts
Revocable vs. Irrevocable Life Estate - Current Gifting Guidelines
Gift Tax Issues
Protecting Assets for a Disabled Child
PROTECTING THE FAMILY HOME 3:15 -4:00, Marc Alhonte
$500,000 Home Equity Limitation Under the DRA
Transferring the Home Subject to a Life Estate
Transferring the Home to an Irrevocable Trust
ETHICAL CONSIDERATIONS WHEN REPRESENTING THE ELDERLY CLIENT 4:00 -4:30, Marc Alhonte
Acting Within the Lawyer's Expertise
Avoiding Conflict Between Spouses' Interests
Competency of the Client
Maintaining Due Diligence in Completing Paperwork When Representing the Elderly or Ill Client