By Thomas D. Begley, Jr., CELA One of the trusts used in Medicaid Planning is a Disability Annuity Special Needs Trust (“DASNT”). A previous Straight Word article discussed a Disability Annuity Trust (“DAT”). These trusts are designed so that an…
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Disability Annuity Special Needs Trusts
Tagged with: Asset Penalty, DASNT, DAT, Disability Annuity Trust, Estate Recovery, Medicaid Planning, SSI
COMPARISON BETWEEN TRANSFERS TO CHILDREN’S TRUSTS AND TRANSFERS TO INDIVIDUALS
by Thomas D. Begley, Jr., CELA The following chart compares the advantages and disadvantages of an outright transfer of assets and putting assets in a Children’s Trust. Trusts v. Transfers Comparison Issue Children’s Trusts Individuals Look-Back Five Years…
COMPARISON BETWEEN TRANSFERS TO INCOME ONLY TRUSTS AND TRANSFERS TO CHILDREN
by Thomas D. Begley, Jr., CELA The following chart compares the advantages and disadvantages of an outright transfer of assets and putting assets in an Income Only Trust. Trusts v. Transfers Comparison Issue Income…
TAX AND ESTATE RECOVERY ISSUES IN CONNECTION WITH INCOME ONLY TRUSTS
by Thomas D. Begley, Jr., CELA An Income Only Trust can be designed as a grantor trust. The trust assets are unavailable for Medicaid, but there are some potentially significant tax benefits to the grantor. The Internal Revenue Code contains…
THE PROBLEM WITH INCOME ONLY TRUSTS IN MEDICAID PLANNING
by Thomas D. Begley, Jr., CELA Purpose Income Only Trusts are a means by which seniors transfer assets to a trust rather than to their children. Seniors tend to view transfers to trusts as protection, while they tend to…
Tagged with: Estate Recovery, Five Years, Gift Tax, Grantor Trust, Income Tax, New Jersey, Risk Avoidance
THE PROBLEM WITH INCOME ONLY TRUSTS IN MEDICAID PLANNING
by Thomas D. Begley, Jr., CELA Purpose Income Only Trusts are a means by which seniors transfer assets to a trust rather than to their children. Seniors tend to view transfers to trusts as protection, while they tend to view…
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