U.S. Appeals Court Rules Spousal Annuity Is Not an Available Resource

A short summary from Elder Law Answers:

The Third Circuit Court of Appeals upholds a community spouse’s purchase of an actuarially sound annuity that converts excess resources into protected income. The community spouse was represented by the Pennsylvania ElderLawAnswers member firm of Marshall, Parker and Associates. James v. Richman (3rd Cir., No. 06-5092, Nov. 12, 2008).