Florida Medicaid Planning Attorney
Are the costs of residing in a nursing home, long-term medical facility or employing an at-home caregiver expensive, but your pension and/or savings disqualify you from Medicaid assistance? Need help understanding how Florida Medicaid long-term-care rules may affect your assets and estate plan? Tiffany Oliver, Esq. provides direct guidance on Medicaid planning and potential next steps.
What Is Medicaid Planning in Florida?
Medicaid planning helps individuals and families understand how Florida Medicaid long-term-care eligibility rules may interact with their income, assets, property ownership and estate-planning decisions while legally preserving income and assets.
Florida's long-term-care program uses two separate state agencies for financial eligibility determinations and medical eligibility determinations. The Florida Department of Children and Families determines financial eligibility, while the CARES program through the Florida Department of Elder Affairs determines medical eligibility and level of care.
Because each situation is different, planning should be based on each person's current circumstances, asset portfolio and ownership structure, family situation and care needs rather than a one-size-fits-all strategy.
When Should Medicaid Planning Be Considered?
Medicaid planning may be relevant when a person or family is preparing for possible long-term-care needs, is considering nursing-facility or home-and-community-based care, or wants to understand how an existing estate plan may interact with Medicaid eligibility.
Planning may also be useful when a spouse, parent or other family member owns real estate, savings, investments or other assets that may need to be reviewed before an application or eligibility determination.
Timing can matter. Changes in ownership or transfers of assets can affect eligibility, so potential significant transfers should be reviewed before action is taken.
Understanding Financial and Medical Eligibility
Qualifying for Florida Medicaid long-term-care services involves more than one type of eligibility review. Financial eligibility is handled by the Florida Department of Children and Families, while medical eligibility and level-of-care determinations are handled through the CARES Program under the Florida Department of Elder Affairs.
Income, countable assets, ownership interests, marital circumstances and other factors can affect the financial analysis. Standards can change, which is why Tiffany reviews the current rules and the client's circumstances before discussing planning options.
Assets, Transfers and Medicaid Planning
Medicaid eligibility rules can treat different assets and transfers differently. Property ownership, account ownership, prior transfers and the timing of planning steps may all affect the analysis.
A transfer made before or during the eligibility process can create issues depending on the facts and the applicable Medicaid rules. For that reason, clients should avoid assuming that giving away property or retitling assets will automatically improve eligibility.
Tiffany can review the existing ownership structure of your income and assets and explain which planning options may be appropriate before significant changes are made.
Income Planning and Qualified Income Trusts
For certain Florida Medicaid long-term-care programs, a Qualified Income Trust, also known as a Miller Trust, is often a relevant solution when a person's income is above the applicable program limit but not high enough to cover a month's worth of long-term housing or community care. A personal service contract, also known as a personal service agreement, may also be a viable option to ensure that a caretaker family member or friend can be compensated while you receive medical care and Medicaid benefits.
A Qualified Income Trust involves a written trust agreement, a separate account and monthly deposits that must satisfy Medicaid requirements. Whether a Qualified Income Trust or another planning step is appropriate depends on the person's income, program, timing and overall circumstances.
Tiffany can explain how income-related planning may fit with the client's broader Medicaid and estate-planning goals.
Trust, Real Estate and Estate-Plan Coordination
Medicaid planning often needs to be coordinated with the rest of a person's estate plan. Real estate, existing trusts, beneficiary designations and the needs of a spouse or other family members can affect the planning analysis.
In appropriate matters, Tiffany Law also assists with irrevocable trust planning that may involve Medicaid considerations. The right structure depends on the client's goals, assets, timing and willingness to accept the legal consequences of the planning strategy.
The goal is to understand how the Medicaid plan and the broader estate plan work together before documents or transfers are completed.
How Tiffany Law Helps With Medicaid Planning
Tiffany Law helps clients understand how Florida Medicaid planning may fit their circumstances and estate-planning goals.
Tiffany Oliver, Esq. works directly with clients to review relevant assets, ownership, family circumstances and existing planning documents before discussing potential strategies.
Tiffany Oliver, Esq. works directly with clients to review their specific circumstances, relevant assets, ownership, family circumstances and existing planning documents before recommending a tailored estate plan and discussing potential strategies.
Phone and video consultations are available statewide for Florida legal matters.
Explore Related Florida Estate Planning Resources
Medicaid planning can overlap with trust planning, property ownership and a broader estate plan. Learn more about related Florida planning services.
Frequently Asked Questions About Florida Medicaid Planning
What is Medicaid planning in Florida?
Medicaid planning involves reviewing how Florida Medicaid long-term-care eligibility rules affect a client's specific circumstances, determining the best legal documentation that can assist in preserving income and assets while maintaining eligibility, and preparing that legal documentation. The appropriate planning strategy depends on the person's particular circumstances, care needs, family situation and financial structure.
Do I have to give away my assets to qualify for Medicaid?
No single strategy applies to every person, and giving away assets without first reviewing the Medicaid rules can create significant eligibility problems. It is best to first meet with a Medicaid estate-planning attorney like Tiffany, as different assets and transfers are treated differently under Medicaid rules. The person's finances, property, family circumstances and timing should be reviewed before significant transfers are made.
Can transferring property affect Medicaid eligibility?
Yes. Transfers of property or other assets can significantly affect Medicaid eligibility depending on the timing, type of asset, value of the transfer, the person receiving the asset and other circumstances due to the five-year look-back period that may be triggered under Medicaid rules. A proposed transfer should be reviewed before it is completed.
What is a Qualified Income Trust in Florida?
A Qualified Income Trust may be used in certain Florida Medicaid long-term-care situations when a person's income exceeds the applicable program limit. It must meet specific requirements and be properly funded each month. Whether one is appropriate depends on the person's income, Medicaid program and individual circumstances.
Can an irrevocable trust be used in Medicaid planning?
An irrevocable trust may be considered in some Medicaid-planning matters, but the legal and financial consequences can be significant. The trust terms, funding, timing, assets and the client's broader estate-planning goals should all be reviewed before deciding whether this type of trust is appropriate.
When should I start Medicaid planning?
It can be helpful to review Medicaid-planning options before making major transfers or ownership changes and before long-term-care needs become urgent. Even when a person is already considering care or an application, reviewing the circumstances often helps identify the available planning options and next steps.
How do I get started with Medicaid planning in Florida?
Schedule a free 30-minute consultation with Tiffany Law. Tiffany can review your general circumstances, assets, property ownership and estate-planning goals and explain potential Medicaid-planning options and next steps.
Considering Florida Medicaid Planning?
Speak directly with Tiffany Oliver, Esq. about your circumstances, assets and estate-planning goals and whether Medicaid planning may be appropriate.
Schedule your free 30-minute consultation to discuss potential planning options and understand your next steps.
