Estate Planning | Making a Difference One Family at a Time

Thinking about long-term care can feel overwhelming. With the cost of nursing homes and assisted living facilities in Connecticut continuing to rise, proactive planning is the best way to safeguard your hard-earned life savings.

When you partner with our Connecticut elder law firm, our goal is to build a comprehensive strategy that protects your assets while ensuring you qualify for Connecticut Medicaid, known locally as HUSKY Health or Title 19.

To make your initial consultation as productive as possible, we have compiled this Medicaid planning checklist. Completing these steps beforehand allows us to dive straight into your strategic options during our first meeting.

1.) Gather Essential Personal Identification Records

Before the state evaluates your financial eligibility, they must confirm your legal identity and status. Please locate, organize, and bring physical or clear digital copies of the following documents for both you and your spouse:

  • Social Security cards.
  • Medicare cards and any supplemental private insurance cards.
  • Birth certificates.
  • Marriage certificates, or divorce decrees if applicable.
  • Military discharge papers (DD-214), as veterans or their spouses may qualify for additional aid and attendance benefits.

2.) Compile Your Financial Statements and Proof of Income

Connecticut Medicaid has strict gross monthly income limits. If your income exceeds the individual threshold, we will need to discuss setting up a qualified income trust (also known as a Miller Trust). To help us analyze your income structure, please bring documentation of all monthly revenue streams, including:

  • Social Security benefit verification letters.
  • Gross pension statements or annuity distribution summaries.
  • Statements for any traditional or Roth IRAs, 401(k)s, or 403(b) accounts.
  • Proof of any rental property income, alimony, or regular veteran benefits.

3.) Document Your Asset and Asset-Like Holdings

Medicaid classifies your property into “countable” and “non-countable” assets. To protect as much of your wealth as possible, we must first map out your complete financial landscape. Gather the most recent statements (ideally covering the last few months) for all of your liquid and non-liquid holdings:

  • Checking, savings, and money market accounts.
  • Certificates of deposit (CDs) and savings bonds.
  • Stocks, bonds, mutual funds, and cryptocurrency wallets.
  • Statements for cash-value life insurance policies, which Medicaid often counts as an available asset if the face value exceeds specific thresholds.

4.) Organize Real Estate Documents

For many Connecticut seniors, their home is their most valuable asset. While a primary residence is generally considered an exempt asset during your lifetime if a spouse or dependent child lives there, it can still be vulnerable to the state’s mandatory Medicaid Estate Recovery Program after you pass away. Please bring:

  • Copies of deeds to all real estate properties you own, including your primary residence, vacation homes, or timeshares.
  • The most recent property tax assessments and homeowners insurance statements.
  • Documentation of any outstanding mortgages, home equity lines of credit (HELOCs), or home equity conversion mortgages (reverse mortgages).

5.) Track Historical Financial Transfers and Gifts

Connecticut strictly enforces a five-year look-back period. This means that when you apply for Medicaid, the state audits all financial transactions over the past sixty months.

Any uncompensated transfers, cash gifts to family members, or asset sales below fair market value can trigger a harsh penalty period during which the state will refuse to pay for your care.

To help us spot potential red flags early, please make a note of:

  • Any monetary gifts given to children, grandchildren, or charities over the last five years.
  • Real estate or vehicles transferred, gifted, or sold below market value.
  • Any large, irregular cash withdrawals or bank transfers from your accounts.

6.) Locate Your Existing Estate Planning Documents

Medicaid planning is not a standalone process; it must integrate seamlessly with your broader estate plan. If your current power of attorney does not include specific, robust gifting provisions, we may not have the legal authority to move assets out of your name if you suddenly become incapacitated. Please bring copies of your existing:

  • Last will
  • Revocable or irrevocable living trusts
  • Durable power of attorney
  • Healthcare instructions, living wills, and appointment of a healthcare representative.

We Are Here to Help!

Now is the time for action with potential long-term care costs looming in the future. We have a Glastonbury, CT elder law office, along with another one in Westport, and you can send us a message or call us at 860-548-1000 to schedule a consultation at either location.