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How To Avoid California Fraudulent Transfers in Medicaid Planning

If you are applying for Medicaid benefits, or if you expect to apply in the future, there are certain rules and regulations relating to eligibility for Medicaid benefits that you should be aware of. Learn more about California fraudulent transfers in this presentation.

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How To Avoid California Fraudulent Transfers in Medicaid Planning

  1. 1. 1“! HOW TO AVOID CALIFORNIA FRAUDULENT TRANSFERS IN MEDICAID PLANNING
  2. 2. THE DANGER OF FRAUDULENT TRANSFERS ; ' S('ll(); ~Il-LR l. . GR<. )L'l’ I pl'()I7£llC. lI‘ll. ‘lS. CSILIICS lg?
  3. 3. If you are applying for Medicaid benefits, or if you expect to apply in the future, there are certain rules and regulations relating to eligibility for Medicaid benefits that you should be aware of 1;. S(‘llOM[: ZR L. /’GROUP W -, " I pr0bz'11c. trus1s. cstulcs A I‘ , IJ _, _-.57-
  4. 4. Medicaid is a benefits program that is considered a “payer of last resort. ” That means, all other sources of payment for medical treatment are required to be used before Medicaid benefits will begin to pay for long-term care 3;. S(‘llOM[: IR LAWGROUP _ pr0bz'11c. trus1s. estates A I‘ , IJ H-2’
  5. 5. In general, applicants for Medicaid must have Very limited income 3;. SCllOM[: IR LAWGROUP _ pr0bz11e.1rus1s. estates A “ I l H-2’
  6. 6. So, if your assets exceed that limit, and
  7. 7. you begin giving away your property, you must be sure to avoid fraudulent transfers 3;. S('llOM[: IR LAWGROUP _ probate. trusts. estates A “ , IJ l —r= .'z'-
  8. 8. MEDICAID ELIGIBILITY IN CALIFORNIA
  9. 9. Ca1ifornia’s state Medicaid program is referred to as Medi—Cal. You must be either a US. citizen, US. national, permanent resident or legal alien, and you must be a California resident 1;. SCllOM[: IR LAWGROUP _ probate. trusts. estates A “ _II I —r‘. 'z'—
  10. 10. Applicants must have very limited income and be either pregnant, blind, have a disability or a family member in your household with a disability, be responsible for children under 19 years of age, or be 65 years of age or older 1;. S('llOM[: IR L. /’GROUP _ probate. trusts. estates A “ III I —«--z'-
  11. 11. THE DEFINITION OF A FRAUDULENT TRANSFER
  12. 12. Generally speaking, a “fraudulent transfer” is made when you move your assets out of the reach of creditors, when you are aware of a creditor’s claim 1;. S('llOM[: IR L. I’GR0UP _ probate. trusts. estates A “ III I _,12
  13. 13. The classic example is when an individual did not have an asset protection plan in place, but after they have a judgment against them, they attempt to transfer their assets to someone else 3;. S(‘llOM[: IR LAWGROUP _ probate. trusts. estates A “ , III I 1»-2’
  14. 14. FRAUDULENT TRANSFERS RELATING TO MEDICAID ELIGIBILITY
  15. 15. A fraudulentitransfer can also loccur if an individual gives away assets in order to qualify for Medicaid
  16. 16. There are specific laws that discourage, and even punish, individuals for giving away their property in anticipation of applying for Medicaid benefits 1;. S('llOM[: IR L. I’GR0UP _ probate. trusts. estates A “ III I —«--z'-
  17. 17. THE “F YEAR LOO BACK” PERIOD
  18. 18. Federal law actually requires state Medicaid agencies to investigate transfers and gifts made by applicants during a specific period of time, know as the five year look- back period 1;. S('llOM[: IR LMGROUP _ probate. trusts. estates A “ III I j
  19. 19. This means, if you give away any of your propemr or assets right before applying for Medicaid, you may be considered ineligible for long-term care benefits for certain period after your application is accepted 1;. S('llOM[: IR LMGROUP _ probate. trusts. estates A “ III I . «--''. z'-
  20. 20. MEDICAID WILL EXAMINE YOUR PROPERTY TRANSFERS
  21. 21. Your state Medicaid agency will examine all transfers you made during the five years before you submitted your application, no matter how innocent they may have actually been 1;. SCllOM[: IR LMGROUP _ probate. trusts. estates A “ , I,I I j
  22. 22. / This potential penalty period only applies to individuals needing long-term care in an institution, or who receive home health care
  23. 23. It does not apply to individuals who need what is referred to as acute care, such as hospitalization or physician services 3;. SCllOM[: IR LAWGROUP " probate. trusts. estates A “ , III I
  24. 24. FACTORS CONSIDERED IN DETERMINING FRAUDULENT TRANSFERS . ' St'Il(); ~1l-LR l. . C‘1R<. )L'I’ I pl'()l7£llC. lI‘ll. ‘lS. CSILIICS lg?
  25. 25. You may be found guilty Of a fraudulent transfer if the following Occurs: 1;. SCllOM[: IR LAWGROUP _ probate. trusts. estates A “ III I ——r‘. ':, '-
  26. 26. ‘ You transferred any property to ‘ I someone else market value for it ‘ You received less than fair I The transfer left you unable to satisfy a creditor . _~ . . 4;. SCllOM[: IR LAWGROUP _ probate. trusts. estates ——f‘. 'z'-
  27. 27. The laws prohibiting fraudulent transfers are based on the idea that, once you have incurred a legitimate debt, the property needed to satisfy that debt constructively belongs to the creditor 3;. S('llOM[: ZR LAWGROUP " probate. trusts. estates A “ III I
  28. 28. If you try to get rid of it, so the creditor cannot be paid, you have made fraudulent transfer 1;. SCllOM[: IR LAWGROUP _ probate. trusts. estates A “ III I ——r‘. ':, '—
  29. 29. HOW To TRANSFER YOUR ASSETS THE RIGHT WAY . ' St'Il(); ~1l-LR l. . C‘1R<. )L'I’ I pl'()l7£llC. lI‘ll. ‘lS. CSILIICS lg?
  30. 30. The way to avoid fraudulent transfers is to have an asset protection plan in place before you need the protection 3;. SCllOM[: IR LAWGROUP _ probate. trusts. estates A “ , III I —r= .'z'-
  31. 31. This means, before you apply for Medicaid benefits 1;. SCllOM[: IR LAWGROUP _ probate. trusts. estates A “ III I ——r‘. 'z'-
  32. 32. en your assets are protected correctly, creditors (including Medicaid) will have a difficult time establishing a fraudulent transfer occurred 1;. SCllOM[: IR LAWGROUP _ probate. trusts. estates A “ III I ——r‘. 'z'—
  33. 33. AVOID THE APPEARANCE OF FRAUD . ' St'Il(); ~1l-LR l. . C‘1R<. )L'I’ I pl'()l7£llC. lI‘ll. ‘lS. CSILIICS lg?
  34. 34. There are certain types of property transactions that courts 5 ically see as fraudulent 1;. SCllOM[: IR LAWGROUP _ probate. trusts. estates A “ III I _,12
  35. 35. Avoiding these kinds of transactions can go a long way toward avoiding a finding of a fraudulent transfer: 1;. S('llOM[: IR LAWGROUP _ probate. trusts. estates A “ III I . «--''. z'-
  36. 36. an , a A transfer or obligation made to an insider (close relative or friend) Retaining possession or control of the transferred property, even after the transfer I A transfer of substantially all the debtor's assets . A . . SCI IOMIIR LAW GROUP a/ "4 probate. trusts. estates 3:
  37. 37. -n Concealment of assets insolvent shortly after the transfer is Being insolvent or becoming made I shortly after a substantial debt is ‘ A transfer occurring shortly before or ‘ incurred I . _~ .1 4;. S('llOMI: ZR LAWGROUP °' probate. trusts. estates J‘: -
  38. 38. ADVANCE ASSET PROTECTION IS THE KEY . ' St'Il(); ~1l-LR l. . C‘1R<. )L'I’ I pl'()l7£llC. lI‘ll. ‘lS. CSILIICS lg?
  39. 39. We all have a right to establish an asset protection plan, and to transfer our assets as we see fit 1;. S('llOM[: IR LAWGROUP _ probate. trusts. estates A “ III I . «--''. z'-
  40. 40. Though creditors may be quick to suggest that a transfer of assets is fraudulent, if you create a proper asset protection plan ahead of time, you should not have anything to worry about, when it comes time to submit that Medicaid application 1;. SCllOM[: IR LAWGROUP _ probate. trusts. estates A “ , II I -1-2’
  41. 41. ,. . ‘Q -; .~. I SCHOMER LAW GROUP probate, trusts, estates L LII
  42. 42. If you have questions regarding fraudulent transfers, or any other Medicaid planning needs, please Contact the Schomer Law Group either online or by calling us at (301) 337-7696 1;. S('llOM[: IR LAWGROUP _ probate. trusts. estates A “ III I —«--z'-
  43. 43. .'< l I ll‘: ' I‘ . ’ I , . V »‘ ‘__A it __ q ». k - 2‘ J‘'‘‘i' ‘ A = I1 LEARN MORE ABOUT FRAUDULENT TRANSFERS IN MEDICAID IN CALIFORNIA
  44. 44. ‘, .. 3-’ Acffi Unma- évg Vi ‘a J. ..‘ ‘.3- No «R. t. L SCHOMER LAW GROUP probate, trusts, estates

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