With the decision of the First District Court of Appeals in Koenig v. Dungey, Medicaid planning attorneys and their clients were given the confidence to employ annuities in Medicaid planning for married couples.
Community Spouses and the Community Spouse Resource Allowance (CSRA)
U.S. Congress sought to protect married individuals living in the community from financial hardship caused by their spouses’ institutionalization in a nursing-care facility by allowing community spouses to maintain some assets—the Community Spouse Resource Allowance—while still permitting… Read the rest
Not so long ago, living trusts, also commonly referred to as revocable trusts or family trusts, were used as Medicaid planning tools for married couples in Ohio. A married would put their home in a living trust prior to a Medicaid application. As the home was in a trust and not in the names of the married couple, it was considered a countable resource. As such, it would increase the Community Spouse Resource Allowance (“CSRA”) by the value of the home, thereby allowing the community spouse to spend down excess resources by transferring the home into their individual names rather than spending… Read the rest