Menomonie, Wis. – A Farm succession webinar discussing Wisconsin’s Medicaid Program will be held Thursday, Mar. 23, 2017, at Dunn County UW-Extension, Community Services Building, 3001 US Hwy 12 East, Room 101, Menomonie. This webinar is the last in a series of webinars from UW-Extension that will focus on a variety of farm succession topics. This two-hour webinar begins at 1 p.m.
Farm business owners looking to the future of their farming operations have many issues to consider. Succession planning includes planning for the owner’s “Golden Years”; business planning to ensure the operation has financial capacity; developing the successor’s management skills; and estate and tax planning.
Skilled nursing care is an expense that can be difficult to plan for as farm families are building their businesses and trying to bring another person into the business. In 2016, the Genworth Cost of Care Survey indicated the median cost of nursing home care for a semi-private room in Wisconsin is about $7,800 per month. The average nursing home stay is about two and a half years. Medicaid is a federal program that provides assistance for those who cannot pay for skilled nursing care.
This webinar is for both the owner and successor generations to learn about the Wisconsin rules for the Medicaid program. Attorney Anthony Schmoldt, from Schmoldt Law Office, LLC, in Chippewa Falls will be the speaker for this webinar. The topics to be covered include:
- What is Medicaid/Medical Assistance?
- What are the rules for eligibility?
- What are the rules for recovery?
- What are the gifting rules and restrictions as they pertain to Medicaid?
- What are strategies and tools to protect certain business assets from Medicaid recovery?
Please contact the Dunn County UW-Extension office at 715-232-1636 or Agriculture Agent Katie Wantoch (email@example.com) for more information on this webinar series. Pre-registration is required for each session so enough materials are prepared.