Revocable living trusts are often a very useful tool when it comes to estate planning, and most of my clients opt to set one up. This is particularly true if minimizing probate involvement upon your death is a major planning goal. However, I find that many clients grossly overestimate what can be accomplished with their
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The Latest on ABLE Accounts
Here are the important aspects of an “ABLE” account, which is an important new tool in the world of special needs planning:
- Available to any disabled individual who was diagnosed with their condition prior to age 26.
- Tax-free growth.
- The funds can only be used for disability-related expenses.
- The account will not be counted as
…
Nationally Broadcast Webinar on "Gifting the House", June 29th
Happy to announce that I will be participating in a nationally-broadcast webinar on Thursday, June 29th from 1:00pm ET to 2:30pm ET. I will be joined by two Kentucky elder law attorneys, Kelly Gannot, Esq. and Misty Clark VanTrease. Esq. from Kentucky Elder Law PLLC which has offices in Bowling Green and Louisville.…
Special Needs Fairness Act Moving Along
The U.S. House of Representatives has passed an amended version of the Special Needs Fairness Act. The next stop is the U.S. Senate.
The prominent feature of the bill is that it would allow a disabled individual to establish and fund her own special needs trust, assuming she has the competency to do so. Current…
What is the Medicaid "Pick-Up Date"?
A lot of my Medicaid clients get confused over the date that Medicaid coverage kicks in (also known as the Medicaid “pick up date”) once Medicaid eligibility has been determined by the State of Connecticut.
The short answer is that Medicaid can start as early as the first day of the month during which the…
CT Alzheimer's Association Workshop
Just passing on yet another helpful workshop being presented by the Connecticut Chapter of the Alzheimer’s Association. If you are in central Connecticut and have some time on the night of November 17th, then this is a good opportunity to beef up on financial and legal issues that come with Alzheimer’s Disease.
Click here for…
What is "Elder Law"?
This question is posed to me pretty often at networking events. Unfortunately, as is the case with many queries in the legal profession, the answer is not a simple one. And I’m sure my colleagues in the Elder Law bar would find it difficult to come up with a definition that we all agree on.
“Elder…
Keeping it Simple with "Small" Probate Estates in CT
As you take whatever steps that are necessary to avoid probate in Connecticut (which seems to be a mild passion for many of my clients) you should keep in mind that the probate process for “small” probate estates is pretty quick and straightforward.
“Small” is, of course, a relative term. As far as the State…
Terminate Conservatorship When T19 is Granted
As many of my clients will readily attest to, finding out that Medicaid has been granted for a loved one is cause for celebration. The harrowing process usually takes months and the amount of information that needs to be generated, organized and sent to the State is mind-boggling. So when the journey ends you feel…
Make Sure You Have the Right Type of Special Needs Trust
Most of my clients who sit down to discuss estate planning for their special needs child are surprised to hear that there are actually two types of special needs trusts, one of them being much more appealing than the other. Well, there are really three types, but the third type (D4C pooled trusts) rarely comes up. Anyway, the question…