Can a conservator or guardian undertake Medicaid Planning for someone who has not authorized them to do so with a Power of Attorney?
It really depends on where you live if a conservator or guardian may undertake Medicaid Planning for you, however having the proper powers of attorney in place is a relatively inexpensive and definitive way of authorizing someone to help with this type of planning.
In this Elder Law Minute, Wes Coulson discusses this issue and offers insights on how to best protect your assets in the future.
Can a Guardian undertake Medicaid Planning for you?
One issue we’re sometimes called upon to deal with when people come to us for help in protecting their life savings from long-term care costs is: What if the person is not competent to do things anymore and either doesn’t have a power of attorney in place, or the power of attorney that they have in place doesn’t authorize in getting assets out of their name to protect them?
The question that raises is whether a guardian or a conservator, somebody appointed at a court proceeding, can undertake Medicaid planning on behalf of somebody who hasn’t authorized it in a power of attorney. The answer to that question right now is:
- Yes, if you are in Southwestern Illinois;
- Maybe, if you are in other parts of Illinois; and
- No, if you are in Missouri. Now, that might be changing in Missouri.
There is a new guardianship statute that has been proposed that would allow a conservator, guardian, to engage in that planning. But right now, in Missouri, it just can’t be done. But, the real lesson here is, it’s really important to get powers of attorney in place. You’re talking about a relatively inexpensive document being signed as compared to a very expensive court proceeding that’s the alternative. Thanks.
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Dent-Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Dent-Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (877)995-6876 or Contact Us and we will get in touch as soon as possible.