BETTEN, MURPHY & WEISS
Attorneys, PA

These are some mistakes elder law attorneys commonly see:

1. Depleting assets by waiting too long to begin asset protection planning.

2. Thinking that it is too late to begin the planning process.

3. Relying on advice from "experts" about Medicaid rules.

4. Transferring assets without understanding the transfer rules and penalties.

5. Relying on outdated or poorly drafted durable powers of attorney.

6. Applying for Medicaid for a person whose gross income is greater than the income cap and who does not have a Qualified Income Trust.

7. Neglecting to disclose all known income, assets or gifts.

8. Overlooking that the community spouse may die before the institutional spouse.

9. Overlooking that both spouses may need nursing home care.

10. Failing to take advantage of spousal income diversion.

11. Causing an longer transfer disqualification period by applying too soon.

12. Transferring the home directly to the children.

13. Confusing the Internal Revenue Service $11,000 yearly gift tax exclusion with transfer of assets disqualification penalties.

14. Thinking trust assets will not be counted in the available asset total.

15. Missing the use of exempt assets.

The below items will give you additional information on MEDICAID eligibility for Nursing Home Care.

MEDICAID Estate Planning

MEDICAID Trusts

MEDICAID FAQs (frequently asked questions)

MEDICAID eligibility for a single person

MEDICAID eligibility for a married person

MEDICAID Exempt Assets