Income-Only Trusts and Long Term Care

$210.00

Re-Broadcast on March 28, 2017

Join myLawCLE for a discussion on income-only Medicaid qualifying trusts. What criteria must a trust meet to shelter assets from long term care expenses and preserve Medicaid eligibility? This CLE will provide guidance on how and why a Medicaid qualifying trust might work for clients worried about long term care costs. Drafting tips, examples, and forms will be provided, and ethics issues arising in the context of Medicaid planning will be addressed.

Key topics to be discussed:

  • Income-Only Medicaid Planning Trusts
  • Structuring the Trust
  • Naming the Beneficiary
  • Who Should Serve as Trustee
  • Funding the Trust
  • Principal Distribution Provisions
  • Sample Provisions and Forms
  • Ethics

 
Date / Time: March 28, 2017

  • 2:00 pm – 5:15 pm Eastern
  • 1:00 pm – 4:15 pm Central
  • 12:00 pm – 3:15 pm Mountain
  • 11:00 am – 2:15 pm Pacific

 
Choose a format:

  • Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
  • On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 7 business days after the original recording date.

 

Clear

MaryAkkerman_1Mary Akkerman: As a partner in Lindquist & Vennum’s Trusts and Estates practice group, her practice includes all aspects of fiduciary representation, estate planning, and related administrations. She understands the big picture while guiding clients through the details of fiduciary representation, dynasty trusts, domestic asset protection trusts (DAPTs), estate and trust administration, including trust reformations, modifications, decanting, and conversions to total return unitrusts, guardianships and conservatorships, business and tax planning, estate and gift tax planning, tax appeals and related litigation. Mary is also skilled at establishing public and private trust companies in South Dakota.

As one of the state’s most experienced lawyers on South Dakota situs and trust laws, Mary serves as local counsel, providing document review, trust modification, and  general advice on selecting South Dakota trust law to lawyers, professional advisors, family offices and charities nationwide. She also has significant experience working with international advisors, attorneys, and clients with respect to cross-border planning, non-resident alien trust formation, and international tax issues.

Mary has experience advising and defending fiduciaries, including trustees, personal representatives, executors, guardians and conservators in routine and complex matters, including tax issues, compliance with state and federal law, litigation, responding to subpoenas and representation for depositions.

Along with corporate and individual fiduciaries and family offices, Mary represents business owners, professionals, retirees, and individuals interested in establishing a South Dakota trust. She is experienced in trust and estate litigation, probate, guardianships and conservatorships, prenuptial agreements, cohabitation agreements and special needs trusts.

Mary attended law school on the Everett Bogue Scholarship. While earning her J.D., she served on the Board of Editors of the South Dakota Law Review.

CLE Accreditation:
mylawCLE seeks approval in all states except VA.

CLE 3.00 – AK
CLE 3.00 – AL
CLE 3.00 – AR
CLE 3.00 – AZ
CLE 3.00 – CA
CLE 3.60 – CO
CLE 3.00 – DE
CLE 3.60 – FL
CLE 3.00 – GA
CLE 3.00 – HI

CLE 3.00 – IA
CLE 3.00 – ID
CLE 3.00 – IL
CLE 3.00 – IN
CLE 3.00 – KS
CLE 3.00 – KY
CLE 3.00 – LA
CLE 3.00 – ME
CLE 3.00 – MN
CLE 3.60 – MO

CLE 3.00 – MP
CLE 3.00 – MS
CLE 3.00 – MT
CLE 3.00 – NC
CLE 3.00 – ND
CLE 3.00 – NE
CLE 3.00 – NH
CLE 3.60 – NJ
CLE 3.00 – NM
CLE 3.00 – NV

CLE 3.60 – NY
CLE 3.00 – OH
CLE 3.60 – OK
CLE 3.00 – OR
CLE 3.00 – PA
CLE 3.60 – RI
CLE 3.00 – SC
CLE 3.00 – TN
CLE 3.00 – TX
CLE 3.00 – UT

N/A – VA
CLE 3.60 – VI
CLE 3.00 – VT
CLE 3.00 – WA
CLE 3.60 – WI
CLE 3.60 – WV
CLE 3.00 – WY

Accreditation Policy
myLawCLE will seek credit where attending attorneys are primarily licensed for all of its live webinars and live teleconferences, except in states which allow for reciprocity (see reciprocity section below). Credit for CLE in a self-study format is sought for in most states; however, some states do not allow for CLE credit to be earned in a self-study format (see the self-study section below). Many states typically decide whether a program qualifies for MCLE credit in their jurisdiction 4-8 weeks after the program application is submitted. For many live events, credit approval is not received prior to the program. Credit hours granted are subject to approval from each state.

Reciprocity
Additionally, some states allow for credit to be granted on a 1:1 reciprocal basis for courses approved in another mandatory CLE jurisdiction state. This is known as a reciprocity provision and includes the following states: AK, AR, CO, FL, ME, MT, ND, NH, NJ, NY, PR, and SD. myLawCLE does not seek direct accreditation of live webinars or teleconferences in these states.

On-demand CLE
myLawCLE will seek on-demand approval in all states except Virginia and Arkansas (outside reciprocal provisions stated above).


myLawCLE Credit Guarantee
myLawCLE offers a program and credit approval guarantee. If a registered attendee is unhappy with a CLE program they have attended, myLawCLE will offer that attended access to another complimentary CLE or a full refund in order to insure the attendee’s satisfaction.

Additionally, on all online CLE programs application for approval will be made in all states where attending attorneys are primarily licensed in. If a registered attorney does not receive credit from their state for any reason, a full refund will be granted.

Section I. Income-Only Medicaid Planning Trusts
a) The Look Back Period
b) Sheltering Assets from Long-Term Care Expenses
c) Retaining Control
d) Protecting Income
e) Taxes
f) Eligibility for Medicaid

Section II. Structuring the Trust
a) Naming the Beneficiary
b) Who Should Serve as Trustee
c) Funding the Trust
d) Principal Distribution Provisions
e) Sample Provisions and Forms

Section III. Ethics
a) Rules of Professional Conduct in Medicaid Planning
b) Confidentiality
c) Attorney Fee Agreements
d) Conflicts of Interest and Identifying Your Client
e) Attorneys as Fiduciaries