Effective Trust Planning & Drafting: Medicaid Trusts (2013)
Addressed will be the self-settled irrevocable trust established in an effort to avoid the exposure of the assets to the cost of nursing home care for the grantor or spouse.
1.5 MCLE Credits
Counseling issues might include whether the assets are appropriate for use in a trust. Will the available assets to go in the trust leave so much out of the trust as to make it unlikely to provide any benefit in the long run? Are there alternatives to the trust? In the drafting of the trust, how does real estate tax exemption on the primary residence remain intact? If the trust might become a non-viable solution in the future, possibly causing it to become an available resource, how can it be drafted so as to be disassembled and returned to the grantor if such an occurrence arises? Who are appropriate trustees and who are not?
Joan Lensky Robert, Esq., Kassoff, Robert & Lerner, LLP, Rockville Centre.
Total Credits: 1.50 | Areas of Professional Practice: 1.50
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