Coulson Elder Law is now Dent-Coulson Elder Law
Learn More

Estate Planning and Elder Law Attorney | Dent Coulson Elder Law

Get Help Right Away

Call Today: 618-632-7000 or 217-330-5500

or Send us an email

  • Home
  • Our Services
    • Alzheimer’s Planning
    • Asset Preservation Planning
    • Estate Planning
    • Medicaid Eligibility
    • Special Needs Planning
    • Trust and Estate Administration
    • VA Benefits Planning
  • News & Videos
    • Video Series
      • Coronavirus Preparedness
      • Asset Preservation Planning
      • Common Estate Planning Mistakes
      • Dealing With Alzheimer’s
      • Financial Exploitation of Elders
      • Handling Difficult Conversations with Seniors
      • Married Couples and Medicaid
      • Medicaid Application Process
      • Medicaid Look-Back Rule and Transfer Penalties
      • Nursing Home Admission and Care
      • Veterans Pension Benefits
      • What You Can and Can’t Keep with Medicaid
    • Weekly Newsletter
    • The Elder Law Minute
  • Alzheimer’s Guide
  • Presentations
    • Health Care Power of Attorney
    • Free Workshops
  • Hear From Our Clients
    • Testimonials
    • Share Your Experience
  • About
    • About Us
    • Meet Our Staff
    • Partners & Resources
    • About Our Fees
    • COVID-19 Policies
    • Privacy Policy
  • Contact
    • Email Us
    • Find Our Offices
    • Refer a Friend

Strategies for Transfer Penalties

In last of a six part series on the Medicaid Look-Back Rule and Transfer Penalties, Wes Coulson discusses strategies for transfer penalties.

Strategies for Transfer Penalties

Transcript:

Hi, I’m Wes Coulson and this is your Elder Law Minute. This is the last in our six part series on the Medicaid Look-Back Rule and the Transfer Penalty provisions.

As I mentioned at the end of our last video, I’m going to talk to you today about the strategy we use that can very effectively utilize the fact that transfer penalties depend on the amount transferred, and can often be less than five years. Transfer penalties present a problem and the problem is how you are going to pay the NH bill during the time that your eligibility is delayed. The answer to that is that if you incorporate as part of the planning a plan that’s going to enable you to do that, by temporarily increasing your income, if you will you’ve solved the problem that the transfer made. As long as you’ve solved the problems, you can very effectively still make transfers as part of your planning. That’s what we can do to help and it’s going to make a big difference for you.

For the complete Medicaid Look Back Rule and Transfer Penalties series, visit these articles:

  • Will routine gifts cause a Medicaid Transfer Penalty?
  • Withdrawals from Joint Accounts: Are they subject to transfer penalties?
  • Will transferring assets between spouses cause a Medicaid Transfer Penalty?
  • Look-Back Rule and Delay in Eligibility

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.

Veterans Benefits O'Fallon ILFor Immediate Help

If you or a loved one needs immediate help with a planning matter or legal issue, please contact us, and we will get back to you promptly.

Office Hours
Monday - Friday: 8:30 a.m. to 5 p.m.

Call Us
618-632-7000
217-330-5500
314-567-9292

Connect with Us

  • Facebook
  • Twitter
  • YouTube

Join us for a FREE Workshop

 

Free WorkshopsIf you have reached age 65, there's about a 45% chance that you will eventually need long-term care.

Join us for one of our highly informative and FREE workshops and find out how you can protect your family's hard-earned life savings.

Visit Free Workshops for more information.

Newsletter

Subscribe to our free weekly Newsletter and receive the latest news, updates and videos straight to your inbox!

Recent Posts

  • What an Illinois Medicaid Applicant Can and Cannot Keep: Jointly Held Accounts
  • What an Illinois Medicaid Applicant Can and Cannot Keep: Motor Vehicles
  • What an Illinois Medicaid Applicant Can and Cannot Keep: Personal Residence
  • What an Illinois Medicaid Applicant Can and Cannot Keep: Household Goods & Personal Effects
  • What an Illinois Medicaid Applicant Can and Cannot Keep: Life Estates

More News & Videos

  • Alzheimer's Planning (85)
  • Asset Preservation Planning (150)
  • Coronavirus Preparedness Series (9)
  • Coulson Elder Law (11)
  • Elder Law Minute Video (386)
  • Estate Planning (133)
  • Health Care Planning/Medicare (80)
  • Medicaid Eligibility (142)
  • News & Videos (430)
  • Special Needs Planning (48)
  • Trust Administration (14)
  • Veterans Benefits (51)

774 Sunset Blvd Suite 200
O'Fallon, IL 62269
IL: (618) 632-7000
MO: (314) 567-9292

415 W. Virginia Ave.
Effingham, IL 62401
(217) 330-5500

Fax: (618) 632-7333
Send us an email

Front office building of Coulson Elder Law

Front office building of Coulson Elder Law

  • Directions to our office locations

774 Sunset Blvd Suite 200
O'Fallon, IL 62269
IL: (618) 632-7000
MO: (314) 567-9292

415 W. Virginia Ave.
Effingham, IL 62401
(217) 330-5500

Fax: (618) 632-7333
Send us an email

  • About Us
  • News and Videos
  • Weekly Newsletter
  • Brochures
  • Presentations
  • Hear From Our Clients
  • Partners & Resources
  • Legal Disclaimer

Copyright © 2023 · Wesley J. Coulson | Dent Coulson Elder Law, LLC