Download This PaperGuardian Authorized to Partially Renounce Incapacitated Person's Interest in an Estate as Part of Medicaid Planning
47 Brooklyn Barrister No. 8, p. 6 (1996)
9 Pages Posted: 1 Apr 2020
Date Written: April 1, 1996
Abstract
In Matter of Baird, the Suffolk County Supreme Court granted a guardian's petition to partially renounce an incapacitated person's interest in a decedent's estate. It authorized the renunciation of only that portion of the inheritance that, when completed, would result in assets that passed to Mrs. Baird, the incapacitated person, sufficient to pay for her nursing home care during the resulting period of Medicaid disqualification. Matter of Baird is the most recent in a series of decisions that authorized guardians to engage in Medicaid planning on behalf of incapacitated persons. What distinguishes Matter of Baird from these earlier decisions, however, is the implicit holding that the renunciation should be treated as any other asset transfer for purposes of Medicaid planning.
This Article discusses Baird and its significance in estate planning, given the potential Medicaid consequences that may result.
Keywords: Estate Planning, Medicaid Planning Disclaimers, Renunciations
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