by Thomas D. Begley, Jr., CELA<\/p>\n

(Originally published in the June issue of “The Straight Word”) Under a Children\u2019s Trust typically a parent transfers assets to an irrevocable trust for the benefit of her children and reserves no right to access to either income or principal. One or more children usually serve as trustee. The trust document authorizes the trustee to distribute income and principal to children, subject to the approval of a trust advisor who is not a trust beneficiary. The trust advisor may be a spouse of a trust beneficiary or even an attorney or law firm. A beneficiary of the trust cannot serve as trust advisor. Upon the death of the parent(s), the document provides for distribution of the remaining principal and accrued income, if any, in accordance with the parent\u2019s wishes. There are seven considerations in all Medicaid Planning trusts. These are:<\/p>\n

Availability<\/li>\n
Transfer of asset penalty<\/li>\n
Payback provision<\/li>\n
Funding<\/li>\n
Tax considerations, including (more…)<\/span><\/a><\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
by Thomas D. Begley, Jr., CELA (Originally published in the June issue of “The Straight Word”) Under a Children\u2019s Trust typically a parent transfers assets to an irrevocable trust for the benefit of her children and reserves no right to…<\/span><\/p>\n
Read more ›<\/a><\/div>\n
<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"1","sticky":false,"template":"","format":"standard","meta":[],"categories":[301,302,280,283,306],"tags":[5799],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/www.seonewswire.net\/wp-json\/wp\/v2\/posts\/15836"}],"collection":[{"href":"http:\/\/www.seonewswire.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.seonewswire.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.seonewswire.net\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.seonewswire.net\/wp-json\/wp\/v2\/comments?post=15836"}],"version-history":[{"count":0,"href":"http:\/\/www.seonewswire.net\/wp-json\/wp\/v2\/posts\/15836\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.seonewswire.net\/wp-json\/wp\/v2\/media?parent=15836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.seonewswire.net\/wp-json\/wp\/v2\/categories?post=15836"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.seonewswire.net\/wp-json\/wp\/v2\/tags?post=15836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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