TRUSTS/MEDICAID CONSIDERATIONS
by Thomas D. Begley, Jr., CELA There are seven Trust that should be addressed in considering Medicaid. These are: Revocable Trusts, Income Only Trusts, Children’s Trusts, Disability Annuity Trusts, Disability Annuity Special Needs Trusts, Self-Settled Special Needs Trusts, and Third Party Special Needs Trusts. There are seven considerations in drafting trusts. These are: availability of…
OVERVIEW OF MEDICAID TRUSTS
by Thomas D. Begley, Jr., CELA Types of Trusts. Trusts established and funded after August 10, 1993, are governed by OBRA-93. The Medicaid-qualifying trust rules were repealed by OBRA-93, and new rules for revocable and irrevocable trusts created after August 10, 1993, were established. OBRA-93 also created special disability trusts, each of which has rules….
Parents Establishing a Self-Settled Special Needs Trust For A Child: What Can Go Wrong?
[An article originally published in the Straight Word, March 2016.] By Thomas D. Begley, Jr., CELA A Self-Settled Special Needs Trust is funded with the assets of the individual trust beneficiary. These trusts usually involve funds received as a result of a personal injury, inheritance, alimony, or child support. Under federal law, 1 a SelfSettled…
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…