A Medical Dilemma, Solved

Parents and grand- $100,000 in the trust.

parents are increasing- Over the ensuing years,
ly helping children and gifts are made from
grandchildren in this the trust for traditional
trying economy. That birthday and holiday
generosity can pose gifts or to help your
problems with respect loved ones handle any
to Medicaid eligibility, special expenses. Then
particularly now that in March 2015, you re-
the lookback period quire nursing home care
has been increased to and apply for Medicaid
five years for all gifts benefits. None of the
made after Jan. 1, 2010. Joseph S. Karp, gifts you’ve made from
Medicaid will total C.E.L.A. the trust, nor any funds
those gifts to deter- still in the trust, will
mine a period of ineligibility that count against your eligibility, since
starts to run when you are in a nurs- five years have passed since the trust
ing home and apply for Medicaid was established. Of course, you still
benefits. During the ineligibility have access to several other options
period, your family will have to pay to deal with any other non-trust
out of pocket for your care or you assets that may impact your Medi-

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may be discharged from the facility! caid eligibility.
T h e K a r p L a w F i r m ’s
Listen to Joe Karp with Medicaid Gifting Trust™
Anita Finley on Saturday, allows you to continue to
March 6 from 7:30-8:00 AM do the right and generous

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on WSBR 740AM and on the thing for your loved ones,
Internet at www.wsbrradio.com. without fear of being pun-
ished later on.
Although there are still many steps
we can take at the last minute to Joseph S. Karp is a nationally certi-
legally preserve your existing assets, fied and Florida Bar-certified elder law
the biggest problem is how to deal attorney (C.E.L.A.) specializing in the
practice of Trusts, Estates and Elder Law.
with gifts you’ve made, since those
His offices are located at 2500
funds are long gone and spent by Quantum Lakes Drive, Boynton Beach;
your loved ones. The good news is, 2875 PGA Blvd., Palm Beach Gardens;
there is a solution even to that prob- and 1100 SW St. Lucie W. Blvd., Port
lem: The Medicaid Gifting Trust™. St. Lucie.
The beauty of The Medicaid Call him at 561-752-4550 (Boynton);
Gifting Trust™ is that once it’s set 561-625-1100 (Palm Beach Gardens);
or 772-343-8411 (Port St. Lucie).
up and funded, the five year meter Toll-free from anywhere: 800-893-9911.
begins to run. Once the five years E-mail: KLF@Karplaw.com or website
have passed, any funds gifted from www.karplaw.com.
it, or remaining in it, are exempt for Read The Florida Elder Law and
Medicaid purposes. For example, let’s Estate Planning Blog at
say that in February 2010 you put www.karplaw.blogspot.com.