I am a financial advisor from PA with a sound knowledge of medicaid planning here. I have new clients who just retired to Florida and attended an "Investment Seminar" where two advisors stated that there is no look back period for annuities in Florida. In fact, my clients called me to initiate an irrevocable trust containing an annuity with their parents money, in an effort to plan for medicaid. I reviewed your manual on-line and believe that Florida's stance on asset transfers is quite similiar to PA's; penalty periods. Am I correct to say that asset transfers into annuities have a three year look back (unless the exclusion of $3300 is shorter) and transfers into irrevocable trusts have a 5 year look back? Also, these clients have only $100,000 and a 25% stake in a property. In Florida, can't the at home spouse retain $95,000 cash or in an investment, annuity, etc., without losing it to the nursing home? (I do understand the so-called medicaid friendly annuitites, but my question is for the normal annuity, since the medicaid friendly kind are not that friendly if they are not implemented with surgical care). Finally, since I do not provide legal advice, how far are you from Riverview, which is where they are......www.shedleski.com brian@shedleski.com Thanks

My parents are in Florida and my father has alzheimer. Is there a waiting time in you put your money in a medi cad friendly annuities. Andi

Hello Brian and Andi, annuities can be a way of planning for asset preservation. "Normal" annuities are counted as an asset since the applicant has access tothe funds. Annuities that are annuitized, are treated as a stream of income. If you are using an annuity there is generally no waiting period. Important...not all annuities are "medically friendly" even if they are called that. BTW our office serves the Riverview area.