Over Age 65 Entry to a Pooled Trust is Still 'Ok' in Florida

Many of our friends and colleagues have been questioning us regarding the recent Federal 8th Circuit Court of Appeals case Center for Special Needs Trust Administration, LLC v. Olson  from April 2012. 

In this case the Federal Court upheld a State of North Dakota provision in its Medicaid rules which states that a person over the age of 65 who joins a pooled trust in North Dakota invokes an asset transfer penalty for Medicaid eligibility purposes.  

This is not the current situation here in Florida and in many other jurisdictions.  Centers for Medicare & Medicaid Services has not been consistent on this issue, however, Florida has always maintained the position that it is an acceptable asset transfer and as of now Florida Medicaid applicants can still join and fund a Pooled Trust at any age, including over the age of 65, without incurring an asset transfer penalty.   We are keeping a close eye on this issue and if the status changes we will be sure to spread the word. I am sure there will be more to come on this topic.

-Steven E. Hitchcock, Esq.
Co-Trustee, Guardian Trust


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