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Act Now to Avoid Being Wiped

Out By Long-Term Care Costs

According to the 2010 may transfer all assets
Metlife Mature Market to the well spouse,
Institute, the average and the well spouse
cost for a private room in cannot be legally
a Florida long-term care forced to use those
nursing home is $242 PER assets to pay for the
DAY. Obviously, without d i s a b l e d s p o u s e ’s
proper planning, the long-term care costs
average family will lose (“spousal refusal”). SB
nearly all its savings and 1356 will eliminate
security if a loved one spousal refusal as a
requires long-term care. Medicaid planning
W h i l e m a n y p e o p l e Joseph S. Karp, C.E.L.A. technique under these
worry about this possibility, most circumstances.
put off planning, figuring they can As you can see, SB 1356 is going
always take action at a later time, to eliminate many currently viable
when a family crisis occurs. Medicaid planning techniques.
That’s a very bad idea. Especially If passed, it will devastate many
now. The Florida Legislature is F l o r i d a f a m i l i e s . S o i f y o u a r e

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considering a bill that should light concerned about the future cost
a fire under anyone who is
worried about losing every- Listen to Joe Karp and Anita Finley on
thing to the extraordinary Saturday, April 30 from 7:30-8:00 AM

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cost of long-term care. on WSBR 740AM and on the
Senate Bill 1356 contains Internet at
provisions that will further
restrict access to Medicaid long- of long-term care, do not put off
term care benefits, exposing more your planning. Act now! Take steps
Florida families to impoverishment. before July 1 so these proposed
The bill’s provisions include: changes will not impact on your
• Any personal service contract rights. Consult with The Karp Law
entered into after July 1, 2011, will Firm about your options for pre-
be considered a gift for Medicaid serving assets.
eligibility purposes. Personal service Joseph S. Karp is a nationally certified
contracts are the written agreements and Florida Bar-certified elder law attor-
ney (C.E.L.A.) specializing in the practice
that allow a disabled individual to of Trusts, Estates and Elder Law.
prepay a family member(s) for care- His offices are located at 2500 Quantum
giving services. Lakes Drive, Boynton Beach (561) 752-4550;
• Any interspousal transfer after July 2875 PGA Blvd., Palm Beach Gardens
(561) 625-1100; and 1100 SW St. Lucie W.
1, 2011 in excess of the Florida spousal Blvd., Port St. Lucie (772) 343-8411.
allowance (currently $109,560) will Toll-free from anywhere: 800-893-9911.
also be considered a gift for Medi- E-mail: or website
caid eligibility purposes. Right now,
Read The Florida Elder Law and Estate
if a spouse requires long-term Planning Blog at
nursing care, the disabled spouse