Proactive Preservation Planning™ Certificate of Disability

Fill in the blanks: There are three ways to pay for the costs of care in a nursing home, if you ever need to go, and they are (1) Private Pay, (2) ______, and (3) government benefits, which is either ____________ or ____________. *

Fill in the blanks

Fill in the blank: The best way to pay for the costs of care in a nursing home is with _____. *

Fill in the blank.

Fill in the blank: _____ never pays for all of the care and life that people typically want, which is a reason why you should preserve assets for your care in later life. *

Assets considered "exempt" or "non-countable" are exempt from estate recovery upon death. *

True
False

The general rule is, if you can reach the assets, they must be "spent down" on your care unless they are specifically exempt/non-countable. *

True
False

A gift results in disqualification from Medicaid for 5 years. *

True
False

Transfers between spouses create a penalty period based on their value. *

True
False

The penalty for having made gifts will not exceed 5 years. *

True
False

Mark all that apply: The dangers of gifting without knowing what the consequences of your gift will be include:

DRA penalty that might be longer than if you made more targeted gifts
Exposes assets to new risks of loss, even while you are living
Carryover basis; capital gain taxes on your heirs that could have been avoided
You no longer have access to income that you may need in the future
Loss of control of the assets
Loss of real estate tax exemptions, like owner-occupied or senior freeze
Assets don't get "school bus trust" protection for your heirs

Fill in the blank. A "MAP" Trust (Medicaid Asset Protection Trust) allows you to retain/receive _____ but not principal. *

Fill in the blank.

Fill in the blank. On the date you actually apply for Medicaid, gifts made more than _____ years earlier are off the radar; it is as though you never owned the assets gifted. *

Fill in the blank.

Fill in the blanks. If you wait until you're going into the nursing home, you may be able to protect _____% - _____% of your assets in that "crisis" stage; but if you engage in proactive planning MAP Trust planning, you can generally protect much more. *

Date I watched the Proactive Preservation Planning™ program: *

Certification *

I certify that I watched the program and completed this certificate.

My name is: *

First

Last

I am a: *

LifeSpan™ Client
Helper / Family member

If you are a Helper, whose Helper are you? Name of LifeSpan™ Client:

First

Last

A Note Before You Explore the Rest of Our Educational Website
We hope that this web site will help you become a better-educated consumer, less likely to be taken advantage of by unscrupulous or incompetent people offering estate planning advice or services to you. Our web site is a general educational tool only. Reading the site does not make you a client of Curt W. Ferguson or The Estate Planning Center, and we are not giving legal advice by providing this site. Do not rely on the information provided on this site as a substitute for competent legal advice addressing your specific situation.

The choice of a lawyer is an important decision and should not be based solely upon advertisements. Each person should cautiously explore a relationship in person, such as at our Introductory Workshops, before engaging any attorney.

The Estate Planning Center, and the three attorneys employed here, concentrate our practice in estate planning services, which encompasses relevant asset protection, tax planning and business succession planning. However, the Supreme Court of Illinois does not recognize certifications of specialties in the practice of law. Such specialization certificates and recognitions are not a requirement to practice law in Illinois. - Communication of Fields of Practice and Specialization, Illinois Supreme Court Rule 7.

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