On June 11, 2024, the Gerontologist published an article on Medicaid enrollment and Intergenerational transfers of wealth among older adults. The article was based on a review of data from 2008 through 2018 analyzing estate planning and family wealth transfers of older adults aged 65 and older who became Medicaid recipients. There were 8,347 respondents […]
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Dementia affects more than 50 million people worldwide. The Virtual Dementia Tour is designed to allow participants to experience what dementia patients see, hear and feel so they better understand and empathize with individuals who have dementia. One website with the UNC Greensboro reports: “The simulation temporarily alters your physical and sensory abilities to replicate […]
In 2021, we blogged about a valuation case, Connelly v. U.S., 20 F. 4th 412 (8th Cir. 2023). We noted at the time that a Petition for a writ of certiorari was filed. On June 6, 2024, the U.S. Supreme Court decided the case, ruling for the United States. Justice Thomas, writing for a unanimous […]
Gun trusts were developed so gun owners can pass their firearms to beneficiaries or heirs at death (or disability) without creating unintended legal problems. Some people (e.g., convicted felons) are not allowed to own guns. Some weapons require a specific license. The trust is intended to prevent beneficiaries who are not allowed to own guns, […]
Medicaid’s “Any Circumstance” Test for Trusts In case you missed the memo, Medicaid doesn’t like trusts. The rules relating to trusts you create with your money or property are found at 42 U.S.C. § 1396p(d). To put this discussion in context, we’ll begin with the sections relevant to the “any circumstances” test, but the full […]
SNT Trustee Ordered to Reimburse Some Conservator Expenses In Weidner v. Stevenson (Cal. App. 2nd Dist. May 13, 2024), Roberta Davis established a special needs trust inside her living trust for her disabled adult son, Daniel. Daniel was under a conservatorship. Daniel’s aunt, Charlyne, was the successor trustee of the trust after Roberta’s death, while […]
In Agency for Health Care Administration v. Spence (Fla. App. 3rd Dist May 22, 2024) the Court of Appeals reversed a probate court order authorizing distributions from a special needs trust without first reimbursing the Medicaid agency. Ryan Spence was a disabled child adopted by Kathleen Spence. After Spence was killed, a settlement agreement allocated […]
When someone accepts the position of trustee, he (or she or it) must act for the benefit of the trust and its beneficiaries. In Bates v. Howell (Ga. App. 2019), Emily Howell decided that the trustee of her aunt’s trust breached his duties. She then went to court without giving anyone else notice (an ex […]
Long-Term Care Partnership Policies One example of good planning is purchasing long-term care insurance. The greatest risk to non-taxable estates (those under $12.9 million) is the cost of long-term care. With long-term care insurance, you can shift that risk to an insurance company. A partnership policy is a special long-term care insurance policy that protects […]