Program Description Protect Your Older Clients' Assets 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.
Who Should Attend
This basic-to-intermediate level seminar will provide instruction on how to create effective estate plans for elderly clients for:
- Attorneys
- Accountants
- Presidents and Vice Presidents
- Paralegals
- Estate and Financial Planners
- Case Managers
- Nursing Home Administrators
Course Content - What to Do When a Spouse is Confronting Health Issues - The Estate Plan
- How to Protect an Elderly Client's Assets
- Insurance to Fund All or Part of Long-Term Care Costs
- Ethical Considerations When Representing the Elderly Client
- Qualifying for Medicaid Long-Term Care Programs
- Preserving Family Assets When Qualifying for Medicaid
Continuing Education Credits Continuing Legal Education – CLE: 6.00 - Financial Planners – Financial Planners: 7.00
- Guardian – Guardian: 6.00
- International Association for Continuing Education Training – IACET: 0.60
- National Association of State Boards of Accountancy – CPE for Accountants: 7.00*
- Professional Achievement in Continuing Education – PACE: 7.00
| Agenda / Content Covered Richard Mayberry has the pleasure to co-teach with his son, TIMOTHY M. MAYBERRY. Tim is a financial advisor with MetLife in Bethesda, Maryland where he specializes in life, disability, long-term care insurances and annuities.
WHAT TO DO WHEN A SPOUSE IS CONFRONTING HEALTH ISSUES – THE ESTATE PLAN
9:00 - 9:45, Richard Mayberry and Timothy M. Mayberry- Client Interview
- How to Draft the Plan
- Asset Titling – Deed, Bank Accounts, and Life Insurance
- Changing the Will to Exclude the Disabled Spouse
- Durable Power of Attorney – Gift Giving Power
- Advanced Directives
- Sample Forms and Letters
HOW TO PROTECT AN ELDERLY CLIENT'S ASSETS
9:45 - 10:45, Richard Mayberry and Timothy M. Mayberry
- Drafting the Irrevocable Trust
- Impact of Medicaid Issues in Drafting Trusts
- Life Estate Deed With/Without Powers of Sale
- Using Annuities, Life Insurance and Retirement Accounts in the Estate Plan
- Revocable vs. Irrevocable Life Estates – Current Gifting Guidelines
- Income Tax Traps With Gifts
- Avoiding the Pitfalls of Guardianships
INSURANCE TO FUND ALL OR PART OF LONG-TERM CARE COSTS
11:00 - 12:00, Richard Mayberry and Timothy M. Mayberry
- What is Long-Term Care?
- Costs of Care and Funding Sources
- Understanding Long-Term Care Insurance Benefits
ETHICAL CONSIDERATIONS WHEN REPRESENTING THE ELDERLY CLIENT
1:00 - 2:00, John L. Laster
- 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
QUALIFYING FOR MEDICAID LONG-TERM CARE PROGRAMS
2:15 - 3:30, Evan H. Farr
- Where Medicare Stops and Medicaid Begins
- Overview of the State Medicaid Programs
- Categorically vs. Medically Needy
- Medical Criteria – Level of Care Required to Become Eligible
- Assessing a Client's “Medical Need” and Level of Care for Medicaid Qualification Purposes
- Medicaid Planning Techniques
- Financial Criteria for Single and Married Applicants
- Exemptions for Protecting the Family Home
- Qualified Medicare Beneficiaries
PRESERVING FAMILY ASSETS WHEN QUALIFYING FOR MEDICAID
3:30 - 4:30, Evan H. Farr
- Most Common Medicaid Misconceptions
- Implications of Gifts During the Look Back Period
- Options for “Spenddown” of Excess Property – Unique Problems Associated With Disposal of Excess Assets
- Myths About the "Spenddown" Requirement
- Protecting Assets for a Disabled Child
- Retroactive Benefits
- Estate Recovery
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