One of the things we do at Absolute Trust Counsel is assist families with a disabled senior to preserve assets and also become eligible for Medi-Cal assistance to help them pay for nursing home care. One of the tools we often use to do this type of planning is an irrevocable trust. We also sometimes have to help families who…
I recently attended the Special Needs Planning Symposium. The sessions were all very informative, but it was the opening session that really stands out for me, ‘Proactive and Next Generation Planning for Families That Include a Loved One with Disabilities.’ The panel of presenters in the session really brought to light how important it is to consider the needs of…
In our last post we began a discussion of the various roles that must be filled in the planning and administration of a SNT, contrasting that with a conventional estate planning trust. Here we will continue discussing the roles that must be filled in the planning of a SNT. As we’ve mentioned before, a unique feature of most SNTs is…
Special Needs Trusts (SNTs) are different from other trusts that we use in estate planning in many ways. One of those ways has to do with the number and variety of the participants, both family members and professionals, whose assistance is needed. The roles of some of these participants must be clearly defined in the SNT document. Other roles will…
Jack and Mary have five children, one of whom suffers from Down Syndrome. While their son, Michael, is able to complete basic tasks, such as eating and dressing, he lacks the ability to live on his own. At age 20, Michael has the mental capacity of a much younger child. He is unable to make decisions regarding finances, and has…
I do a lot of presentations before groups and one of the most common questions I am asked is “How often do I need to update my estate plan?” As with just about any question asked of an attorney, the answer is, “It depends.” It depends on both changes in the law, both federal and state, and it depends on…
Aunt Minnie may appear to be a little flighty and forgetful, but does that mean she is incapable of creating and legally executing (signing) a will? The answer is complicated. The preparation of an estate plan, which may include a will, trust, and/or other documents, involves many steps. Assets and liabilities must be identified and decisions need to be made…
Documents to Review After Divorce or in Anticipation of Divorce Going through a divorce can be emotional and overwhelming. However, if you are recently divorced or are considering a divorce, do not forget to review your estate plan to determine if you need to make changes to ensure your estate is protected from an ex-spouse and the plan reflects your…
Were you aware that there are about 75 million people in the United States with disabilities? That’s about 25% of the population! Did you know that 53% of disabled people are over the age of 50? The U.S. Census Bureau has labeled disabled Americans the country’s largest minority population. Consider this story from a recent New York Times article: According to…
We live today in more of a ‘do-it-yourself’ world and that goes for legal topics as well. It started with an avalanche of self-help legal books. Then the law became much more ‘form driven’ whereby one plugs information into online forms and/or templates and prints them out for filing or files them online. Add to that the large number of…
