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Federal Appeals Court Decision and HHS support Community Spouse Medicaid Annuities in Lopes Case

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If you read Attorney Parker’s September 20th post titled, How a Medicaid Qualifying Annuity Can Protect Your Savings if Your Spouse Enters a Nursing Home, then you have a good understand of how Medicaid Annuities work in Pennsylvania.  Recently, the United States Circuit Court of Appeals for the Second Circuit has joined the Third Circuit, Ninth Circuit and Tenth Circuit Courts in upholding the right of the spouse of a nursing home resident to purchase a Medicaid annuity to protect her financial security. You can read more about the decision on our founding principal, Jeff Marshall’s Elder Law & Estate Planning Blog.

The Lopes Court also quotes from the decision of the Third Circuit Court of Appeals in a Pennsylvania case, James v. Richman. We are proud to say that the James case was won by our very own Matthew Parker on behalf of his client, Mrs. James. This case really opened the door to the use of immediate annuities to protect the financial security of community spouses throughout the United States.

As Attorney Marshall points out in his article, “Any married couple that could benefit from Medicaid assistance in paying for nursing home care should consider how a Medicaid annuity can help them. But please note that families should get expert help from an experienced elder law attorney before purchasing an annuity for Medicaid purposes. There are potential transfer penalties and other traps that can arise if you try to do this without expert guidance.”

If you would like to schedule a free initial office consultation to see if a Medicaid Qualifying Annuity may be a planning option for you, contact our experienced team today!