Early Termination Provisions in Self-Settled Special Needs Trusts and Self-Settled Pooled Trusts
On June 25, 2010, the Social Security Administration (SSA) issued clarification to the POMS relating to Early Termination Provisions and Trusts.[1] It should be noted that these provisions are not effective until October 1, 2010. Until that date, this POMS is to be considered informational only. The new POMS clarifies what is an early termination…
Avoiding The Unnecessary MSA: Obtaining An Opinion Letter
Since the advent of Section 111 of the Medicare, Medicaid and SCHIP Extension Act of 2007, defendants and defense counsel are more vigorous in ensuring that all Medicare liens are paid in full from settlement proceeds and that a Medicare Set Aside Arrangement (MSA) is established where required. Unfortunately, since this area is new, many…
Should I Consider Long-Term Care Planning For Myself Or A Member Of My Family?
The Begley Law Group assists many families in long-term care planning. Unfortunately, it has been our experience that most families wait until a crisis has arrived and it is often too late to save significant assets. By planning early, families tend to have far better results. Age 75 is usually an appropriate age to begin…
Trustee Advisor, Trust Advisory Committee or Trust Protector in a Special Needs Trust Situation
Where there is a professional trustee rather than a family trustee, there may be a trust advisor, trust advisory committee or a trust protector. Trustee Advisor. A commonly used technique is to name a trustee advisor. A trustee advisor can advise the trustee without actually making decisions. In most cases, the independent trustee will rely…