TRANSFER OF ASSETS TO DISABLED CHILDREN
The current federal Medicaid statute has been in effect since 1989.[1] Generally, the statute provides that if an individual makes an uncompensated transfer of resources, the value of those resources are divided by the average monthly cost of a nursing home and the resulting quotient is the number of months during which the applicant will…
Long-Term Care Insurance
Long-term care insurance can be helpful to clients who are healthy enough and affluent enough to afford it. As elder and disability law attorneys, we must all be aware that Medicaid and other public assistance programs may not continue to exist in the future as we know them today. In fact, the Deficit Reduction Act…
The Intersection of Trust, Tax and Public Benefits Law
1. INTRODUCTION Elder law attorneys acquire an expertise in trust, tax, and public benefits laws. This expertise is at the heart of our profession. In order to determine whether or not a client requires a trust and, if so, what type of trust, the attorney must have a basic understanding of trust law, tax law,…
Distributions from Self-Settled Special Needs Trusts
Distributions from self-settled special needs trusts are usually subject to more severe restrictions than distributions from third party special needs trusts. Many State Medicaid Agencies have regulations or internal policies governing how these distributions can be made. Under federal law,[1] distributions from a self-settled special needs trust must be for the benefit of such individual. …