Medical Assistance and Annuities

Many elder law attorneys advise clients to consider using annuities as a
means to protect assets for the community spouse when their spouse is in the
nursing home. An important decision was reached that may benefit planners and
their elder law clients in achieving asset protection goals.

Reversing a district court, a U.S. court of appeals holds that an annuity is
an unavailable resource even if it is purchased in addition to the community
spouse resource allowance, and that there is no transfer penalty for the
couple’s purchase of the annuity prior to a determination of Medicaid
eligibility. Morris
v. Oklahoma Dept. of Human Services
(10th Cir., No. 10-6241, July 9, 2012).

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