Top 3 Strategies to Deal with an Institutionalized Spouse’s IRA
POSTED ON - April 20, 2021
Presented By Dale Krause, J.D., LL.M.
If you live in a state where IRAs and retirement accounts are countable assets, you know just how frustrating it can be to advise a client on how to handle that account in the crisis Medicaid planning process—especially when it’s owned by the institutionalized spouse. If you’re ready for a solution, join our President and CEO, Dale Krause, J.D., LL.M. as he discusses the top three strategies for handling these situations including:
- Liquating the account and transferring the proceeds to the community spouse
- Purchasing a Medicaid Compliant Annuity for the institutionalized spouse
- Using the “Name on the Check Rule” and assigning the institutionalized spouse’s annuity payments to the community spouse
Dale will dive into the specifics of each option, explain the considerations you need to keep in mind, and go through an in-depth case study showing the plan in action.