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What attendees said about the most recent WealthMerge Webinar…

“Wow, Wow, Wow!
Thank you for a great seminar.”

-Attorney Harriet R. (actual email after webinar)

We are pleased to have received so many emails and calls after our webinar, “Qualified Accounts, Name on the Check Rule, and In Marriage QDRO®.”  Not only were attendees pleased to learn about In Marriage QDROs, but also the high quality education about qualified accounts, a concise explanation of the statutory basis for the “Name on the Check” strategy, potential issues and a case study.  If you missed the webinar, you can view it at www.wealthmerge.com/webinars.

Trying to balance the Medicaid rules and the tax/IRS rules related to qualified accounts can be a daunting task.  At WealthMerge, we evaluate each case as it pertains to the implications on Medicaid planning as well as the tax consequences involved.  We’re searching for the most tax-efficient, cost-effective strategy to plan for clients.

As mentioned, during the webinar, we went through a Case Study dealing with a married couple where the bulk of their assets were held in the institutionalized spouse’s name.  We addressed all the options available to the couple, as outlined below:

  • Option 1 – Do Nothing / Privately Pay
  • Option 2 – Liquidate IS’ qualified account and transfer net proceeds to Community Spouse (pay all taxes up front)
  • Option 3 – Convert IS’ qualified account into a Tax-Qualified Medicaid Compliant Annuity (MCA).
  • Option 4 – Use Name on Check Rule
  • Option 5 – Implement an In Marriage QDRO®

Our guest speaker, Attorney Stephanie Prestridge from In Marriage QDRO® addressed Option 5 as outlined above. Qualified Domestic Relations Orders (QDROs) are typically used to divide qualified funds between divorcing spouses after a property settlement. In Marriage QDRO® utilizes the same statutory authority (ERISA) to facilitate the transfer of funds between happily married spouses — from a husband’s 401(k) to a wife’s IRA, for example — giving the couple greater investment flexibility and a host of other benefits.

Please tune into February’s webinar where we’ll take a deep dive into how In Marriage QDRO works.

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