CECP
WHAT EVERY PROFESSIONAL SHOULD KNOW ABOUT ELDER CARE PLANNING

This course will assist CPAs in advising their clients on the unique problems of the elderly client. Topics include nursing-home care insurance, Medicare and Medicaid, Social Security benefits, and estate-planning issues for the aged or incapacitated.

Major topics include:

• Health insurance issues -- Medicare benefits and eligibility issues, Part A hospitalization, Part B medical services, Part D perscription drugs employer-provided benefits, and COBRA requirements
• Life insurance -- Viatical settlements and other issues
• Long-term care insurance policies -- The pros and cons of new products in light of new regulations; Medicare Plus accounts
• Medicaid -- Financial eligibility, spousal responsibility, and asset planning
• Social Security issues -- Eligibility, available benefits, timing of benefits, benefit reductions, and strategies to maximize benefits
• Trust planning for the elderly -- Surrogate decision making, power of attorney, guardianship, revocable living trust arrangements, and Medicaid trust planning
• Estate planning issues -- Gifts, trusts, and distribution planning for qualified plans and IRAs
• Principal residence planning -- Integrating the newest strategies with Medicaid
• Various living arrangements for the retired person

Level of knowledge: Basic