-
Community Spouse Medicaid Look-Forward
Wisconsin’s unique Medicaid “look-forward” can impose a divestment penalty on the institutionalized spouse if the community spouse (the spouse at home) gifts or transfers assets for less than fair market value after Medicaid eligibility. This review extends for five years from the day the institutionalized spouse was determined eligible, meaning well-intended transfers—helping adult children, charitable… Read more
-
Power of Attorney with Gifting Authority
When long-term care is needed suddenly, timing matters. Medicaid crisis planning often involves transferring or repositioning assets. But those steps can only be taken if someone has legal authority to act. A standard financial power of attorney is often not enough. To implement certain Medicaid planning strategies, the document must specifically authorize gifting and asset… Read more
-
Community Spouse Medicaid Promissory Note
When a married couple faces a Medicaid crisis, protecting the community spouse from financial devastation is critical. A Medicaid-compliant promissory note is a powerful tool that can preserve assets while helping the institutionalized spouse qualify for benefits. In the right circumstances, excess countable assets can be converted into an income stream for the community spouse… Read more
-
Protecting the Healthy Spouse
When a spouse needs long term-care, the fear is immediate: will everything we worked for be lost? Many people assume that Medicaid requires spending down nearly all assets. In reality, there are protections for the healthy spouse, often called the “community spouse.” In a Medicaid crisis, proper planning can help preserve a substantial portion of… Read more
-
The Gift and Promissory Note
When a loved one needs long-term care, families often fear it is too late to protect anything. In some situations, that is not true. One technique sometimes used in a Medicaid crisis is the gift and promissory note, a coordinated approach that preserves a portion of assets while working toward Medicaid eligibility. In general terms,… Read more
-
Understanding the Medicaid Penalty Period
Many families are surprised to learn that divesting assets before applying for Medicaid can create a penalty period—a stretch of time when Medicaid won’t pay for care, even though the person otherwise qualifies. What makes this especially stressful is that the penalty period does not begin when the gift is made—it starts only after a… Read more
