WHAT DOES “SOLE BENEFIT OF” MEAN WITH RESPECT TO A DISABILITY ANNUITY TRUST
by Thomas D. Begley, Jr., CELA The key issue concerning trusts “for the sole benefit of” is availability. In a private letter, HCFA, now CMS, has taken the position that a trust established for the sole benefit of a community spouse under HCFA Transmittal 64 is an available resource.[1] HCFA maintained that there is a…
CHILDREN’S TRUSTS
by Thomas D. Begley, Jr., CELA A common Medicaid Planning strategy is to transfer assets to third parties, wait for the five-year lookback to expire and apply for Medicaid. If assets are transferred to children, there are certain risks to be considered. If the child is sued by a creditor, the assets transferred by the…
MILITARY PENSIONS AND DISABLED CHILDREN
by Thomas D. Begley, Jr., CELA Historically, a member of the military could arrange for a pension and provide a survivor’s benefit to a spouse or child. A problem arose where the child had a disability and was receiving means-tested public benefits such as Supplemental Security Income (“SSI”) or Medicaid. If the child with disabilities…
FAMILIES WITH A MEMBER WITH DISABILITIES MOVING TO A NEW STATE
by Thomas D. Begley, Jr., CELA It is always difficult to move from one state to another, but when a family member has disabilities there are a number of considerations that should be addressed as early as possible. Health Care. Establish a “safety net” well in advance. Research the doctors, therapists and other service providers…