Estate Practice & Elder Law Community Special Needs Trusts

Florida's Qualifying Special Needs Trusts

Tue, 27 Nov 2012 11:01:00 -0400

In Florida, a "qualifying special needs trust" can be included for an ill spouse in the healthy spouse's Last Will. All funds transferred into that trust will be excluded from consideration for Medicaid long-term care benefits, thus providing the ill spouse with funds to purchase supplemental items without jeopardizing Medicaid eligibility should the healthy spouse predecease the ill spouse.

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Comprehensive Instruction on Protecting Elderly and Loved Ones with Special Needs

Fri, 14 Sep 2012 13:46:00 -0400

Improve a loved one's quality of life while not interfering with his or her eligibility for various governmental programs

Special needs trusts may be effective tools for preserving the assets of a senior or a person with a disability. Fundamentals of Special

Special Needs Trusts: Compiled Free Downloads

LNEPEL@placeholder.com (LexisNexis Estate and Elder Law Center Staff) — Mon, 10 Sep 2012 06:34:00 -0400

Information, downloads and advice about Special Needs Trusts are among the most popular items on the LexisNexis Estate Planning and Elder Law Community. To simplify your ability to find and use these important materials, we have gathered them into one location. Here is a summary of what you will find in this listing of compiled Special Needs Trusts Downloads:

Another example of the importance of special needs trusts. I was contacted about a client with an all-too-common issue. A lady died several years ago without a will. At the time of her death, she owned a home that had been severely damaged by Hurricane Katrina. The home was uninsured and ineligible for FEMA assistance. As a result, the house is in a state of extreme disrepair. The home is virtually unsellable in its current condition, especially in this market.

The lady left five children, one of whom is disabled and received social security benefits. When the Social Security Administration learned about the home that his

New Bill Would Help Special Needs Children of Military Retirees

klf@karplaw.com (karplaw) — Tue, 29 May 2012 10:09:00 -0400

If it becomes law, a new bill introduced in the U.S. House of Representatives will provide greater financial security to special needs children of retired military personnel. House Bill 4329, The Disabled Military Child Protection Act, would allow military retirees who participate in the Survivor Benefit Plan to ultimately place these funds in a Special Needs Trust for their child's benefit. The bill was introduced last month by Congressman Jim Moran (D-Virginia).

Under the existing system, a military retiree can put aside up to 55% of his monthly pension to be distributed in the form of a stipend to his survivors when he passes away. However, that stipend

What is a Pooled Trust, and When Should You Use One?

SandraSmith@placeholder.com (Sandra L. Smith) — Fri, 21 Oct 2011 12:18:00 -0400

A pooled trust is a trust established and administered by a non-profit organization. A separate account is established for each beneficiary of the trust, but for the purposes of investment and management of funds, the trust pools these accounts. For self-settled, or (d)(4)(C) pooled trusts, each subaccount is established by the person with a disability, a parent, grandparent, guardian, or a court, and the trust is funded with the assets of the person with a disability. The trust provides that, upon the death of the disabled beneficiary, if there are funds remaining in the beneficiary's subaccount, the trust must pay to the state an amount up to the total amount of Medicaid assistance provided to the beneficiary, to the extent that the funds are

Andrew Hook on How the Patient Protection and Affordable Care Act Will Affect the Special Needs Planning Practice

Thu, 09 Jun 2011 13:00:00 -0400

On this edition, Andrew Hook, CELA, CFP®, of Oast & Hook, P.C., discusses how the Patient Protection and Affordable Care Act will impact the special needs planning practice. He offers insight as to whether the Act will make special needs trusts unnecessary, what the Act changes, and what special needs planners should do to integrate the Act into their practice. Copyright© 2010 LexisNexis, a division of Reed Elsevier Inc. Visit www.lexisnexis.com/community/estate-elderlaw/.

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When a First-Party SNT Obtains a Personal Injury Settlement - Developing a Financial Plan

Mon, 11 Apr 2011 09:17:00 -0400

Bradley Frigon on Developing a Financial Plan for a First-Party SNT Receiving a Personal Injury Settlement

BradleyFrigon@placeholder.com (Bradley J. Frigon) — Mon, 11 Apr 2011 07:51:00 -0400

When the beneficiary of a first-party special needs trust (SNT) receives a personal injury (PI) settlement or a damage award with a structured settlement annuity contract, a financial advisor must address many factors in creating a financial plan. Factors range from the structuring of the settlement through the beneficiary's special requirements and the trust's payback provisions. In this Analysis, Bradley J. Frigon discusses how to develop and implement a financial plan for a first-party SNT receiving a PI settlement. He writes:

[a] Introduction

There are many factors for a financial advisor to consider when creating a financial plan for a beneficiary of a first-party special needs

Apple iPad Apps Designed To Assist Children With Special Needs

swinters@sabrinawinterslaw.com (Sabrina Winters) — Wed, 06 Apr 2011 14:45:00 -0400

By Sabrina Winters

With the introduction of the iPad, applications (also known as "Apps") some extraordinary Apps have been developed, in particular Apps that can improve the daily lives of children with special needs. Many of these can be found in a Special Education Section of their official on-line store. The iPad itself is now being widely recognized as a valuable tool for assistive communication. Several websites are devoted to this topic, with recommendations for specific Apps.

Some popular websites to visit include:

1. About.com: which has a special needs Apps section and

Trustee Discretion and The Court

SandraSmith@placeholder.com (Sandra L. Smith) — Sun, 13 Mar 2011 21:10:00 -0400

The Court of Appeals of the State of Washington, Division II, recently reviewed a case involving a trustee's discretion regarding investment strategy. In re: Mark Anthony Fowler Special Needs Trust (No. 39729-2-II, February 8, 2011, unpublished opinion).

In 2000, Mark Anthony Fowler suffered brain damage at a church function; he was 13 years old when the injury occurred. His parents established the Mark Anthony Fowler Special Needs Trust and funded it with settlement proceeds from the resulting lawsuit. The trust agreement appointed Wells Fargo, N.A., as trustee. The corpus of the trust was approximately $940,000 and an annuity. The superior court approved the trust agreement on September 5, 2001; at that time Mark's life expectancy

Andrew Hook Discusses Special Needs Planning Practice and How It Will Be Affected by the Patient Protection and Affordable Care Act

Thu, 10 Mar 2011 13:35:00 -0400

The special needs planning practice will be impacted by Patient Protection and Affordable Care Act. Andrew Hook, CELA, CFP®, of Oast & Hook, P.C., discusses what the Act changes, whether the Act will render special needs trusts unnecessary, and how special needs planners can integrate the Act into their practice. Copyright© 2010 LexisNexis, a division of Reed Elsevier Inc. Visit www.lexisnexis.com/community/estate-elderlaw/.

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Court Can't Create a Special Needs Trust Where There Wasn't a Will

dwheatley@feinsuch.com (Deirdre R. Wheatley-Liss) — Mon, 07 Feb 2011 14:02:00 -0400

While courts have the power to interpret a person's intent in a Will to create a Special Needs Trust for a disabled beneficiary, even when the Will does not specifically create such trust, the courts can't create a Special Need Trust out of thin air if the person didn't have a Will. Stacey C. Maiden, Esq., of our Trusts, Estates and Elder Law Department, shares this recently crafted holding from the case of IMO Estate of Margaret

Filling a Gap in the SNP Literature

hook@oasthook.com (Andrew H. Hook, CELA, CFP®) — Wed, 29 Dec 2010 09:52:00 -0400

Special Needs Planning ("SNP") has emerged as a recognized legal practice area over the past seventeen years following the passage of the Omnibus Budget Reconciliation Act of 1993 ("OBRA"), which provided statutory authority for first-party special needs trusts ("SNTs"). SNTs have become invaluable tools for the injured, disabled, and their families in developing a comprehensive SNP to address the myriad issues arising from such injury or disability. SNP continues to be a rapidly evolving practice area due to significant changes in the laws and programs relating to persons with long-term disabilities.

SNP involves the development of a multidisciplinary comprehensive plan for a person with a disability in order to

Pooled Trusts

SandraSmith@placeholder.com (Sandra L. Smith) — Fri, 19 Nov 2010 16:14:00 -0400

What is a Pooled Trust?

A pooled trust is a trust established and administered by a non-profit organization. A separate account is established for each beneficiary of the trust, but for the purposes of investment and management of funds, the trust pools these accounts. For self-settled, or (d)(4)(C) pooled trusts, each subaccount is established by the person with a disability, a parent, grandparent, guardian, or a court, and the trust is funded with the assets of the person with a disability. The trust provides that, upon the death of the disabled beneficiary, if there are funds remaining in the beneficiary's subaccount, the trust must pay to the state an amount up to the total amount of Medicaid assistance provided to the beneficiary, to the extent that the funds are not retained by the trust. The pooled trust should be irrevocable to avoid being treated as a resource.

Third-party pooled trust subaccounts can also be established by

Using Third Party SNTs In Estate Planning

StuartZimring@lexisnexis.com (Stuart D. Zimring, Attorney) — Tue, 05 Oct 2010 14:38:00 -0400

Third Party SNTs are those created for the benefit of a person with a disability that makes that person an appropriate beneficiary of a SNT and are funded with assets belonging to someone other than the SNT's beneficiary. The easiest example of a Third Party SNT is where parents of a child with a disability create, as part of their own estate plan, a SNT for the benefit of their child and provide in their estate planning documents that the child's share of the inheritance is distributed to the SNT rather than to the child directly.

Please click on the link at the top of the post to view or download the excerpt "Using Third Party SNTs In Estate Planning"

LexisNexis® Estate Practice & Elder Law Community Podcast featuring Andrew Hook of Oast & Hook on Drafting Special Needs Trusts

Sun, 12 Sep 2010 08:47:00 -0400

On this edition, Andrew Hook of Oast & Hook discusses the different types of special needs trusts, where to find applicable law, and some of the most important issues to consider when drafting one. He talks about common errors attorneys make when preparing such trusts and available resources to assist practitioners. Copyright© 2010 LexisNexis, a division of Reed Elsevier Inc. Visit www.lexisnexis.com/community/estate-elderlaw/.

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Andrew Hook of Oast & Hook on Drafting Special Needs Trusts

Fri, 10 Sep 2010 13:00:00 -0400

On this edition, Andrew Hook of Oast & Hook discusses the different types of special needs trusts, where to find applicable law, and some of the most important issues to consider when drafting one. He talks about common errors attorneys make when preparing such trusts and available resources to assist practitioners. Copyright© 2010 LexisNexis, a division of Reed Elsevier Inc. Visit www.lexisnexis.com/community/estate-elderlaw/.

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Estate Planning for Gifts by Parents to Special Needs Children

rspiro@earthlink.net (Randy Spiro) — Mon, 23 Aug 2010 10:32:00 -0400

Trusts are good vehicles to hold gifts by parents to their children who have disabilities and who have qualified for programs and benefits based on indigency. The Trust can allow a third person to be Trustee after the parents' death and to give that person discretion in making distributions for the benefit of the child. The Trust can go on for the entire life of the special needs child.

If the child acquires assets, he or she may be thrown off the program he or she previously qualified for. In some cases, the government entity which previously paid benefits may have a lien to recover the value of those benefits. That lien could attach to the assets that the child inherits at the death of his or her parents.

A Special Needs Trust is one which contains provisions designed to avoid these problems and to prevent the trust assets from being treated as a resource of the child. Central to accomplishing this result is a provision

Special Needs Planning - It is more than drafting a Trust

hook@oasthook.com (Andrew H. Hook, CELA, CFP®) — Mon, 23 Aug 2010 09:13:00 -0400

This Article is a summary of the body of knowledge that a Special Needs Planner will utilize in developing a comprehensive plan for a person with a disability and his or her family. Special Needs Planning is more than drafting a Special Needs Trust (SNT). While a SNT is important tool, it is not a Special Needs Plan. A Special Needs Plan is a comprehensive, customized legal and financial plan to address the unique and individual needs of a person with a disability and his or her family.

Please click on the link at the top of the post to view or download Special Needs Planning - It is more than drafting a Trust.

LexisNexis® Estate Practice & Elder Law Community Podcast featuring Andrew Hook of Oast & Hook on Special Needs Planning

Fri, 20 Aug 2010 13:47:00 -0400

On this edition, Andrew Hook of Oast & Hook discusses special needs planning and why it is critically important. He talks about the legal tools used in special needs planning, the role of financial planning and how to find a special needs planner. Copyright© 2010 LexisNexis, a division of Reed Elsevier Inc. Visit www.lexisnexis.com/community/estate-elderlaw/.

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Andrew Hook of Oast & Hook on Special Needs Planning

LNEPEL@placeholder.com (LexisNexis Estate and Elder Law Center Staff) — Fri, 20 Aug 2010 13:00:00 -0400

On this edition, Andrew Hook of Oast & Hook discusses special needs planning and why it is critically important. He talks about the legal tools used in special needs planning, the role of financial planning and how to find a special needs planner. Copyright© 2010 LexisNexis, a division of Reed Elsevier Inc. Visit www.lexisnexis.com/community/estate-elderlaw/.

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Supplemental Needs Trusts

martindalehub@hotmail.com (Martindale.com) — Fri, 20 Aug 2010 08:14:00 -0400

The objective of a Supplemental Needs Trust is to provide the disabled person with goods and services not adequately provided for by governmental programs such as Medicaid and Supplemental Security Income (SSI), without jeopardizing the recipient’s rights to such benefits. Read More ....

Compassionate Allowances Initiative

SandraSmith@placeholder.com (Sandra L. Smith) — Thu, 19 Aug 2010 23:13:00 -0400

In October of 2008, the Social Security Administration (SSA) announced the commencement of the national Compassionate Allowances Initiative, a means to expedite the processing of disability claims for applicants whose medical conditions are so severe that their conditions obviously meet the Social Security's standards. According to the Commissioner of Social Security, Michael Astrue, "getting benefits quickly to people with the most severe medical conditions is both the right and the compassionate thing to do. This initiative will allow us to make decisions on these cases in a matter of days, rather than months or years."

Before announcing the initiative, the SSA held public hearings to receive information from experts on rare diseases and cancers. The agency also sought assistance from the National Institutes of Health. As a result, the SSA initially launched the expedited decisions process with a total of 50 conditions

Surrogate abuses discretion by denying an administratrix's petition seeking approval of a NY EPTL 7-1.12(a)(5) supplemental needs trust - Matter of Woolworth (N.Y. App. June 2010)

Wed, 18 Aug 2010 07:14:00 -0400

A Surrogate abused his discretion by denying an administratrix's petition seeking approval of a supplemental needs trust (SNT) based on the entire amount of the settlement proceeds she was receiving from a wrongful death action as the proposed SNT complied with EPTL 7-1.12(a)(5) and she was a disabled adult under 65 years of age.

Lexis.com subscribers can view the enhanced version of Matter of Woolworth, 2010 NY Slip Op 5092, 2010 N.Y. App. Div. LEXIS 5123 (4th Dep't, June 11, 2010, Decided)

Non-subscribers can use lexisOne's Free Case Law search to view the free, un-enhanced version of