Learn how to draft an irrevocable trust to ensure your clients VA and Medicaid benefits are protected.
The average cost of long-term care in the United States ranges from $3,628 per month in assisted living to $7,698 per month for skilled nursing (U.S. Department of Health and Human Services, LongTermCare.gov). Approximately seventy percent of someone aged 65 will need long-term care at some point in their remaining years. Many attorneys are asked by clients how they can protect their assets against long-term care expenses. While they may offer an irrevocable trust as a solution, many practitioners are not well-versed in the plethora of rules and regulations for VA and Medicaid benefits and thus do not recognize the elements this trust should contain; nor do they understand how creating this trust will affect VA and/or Medicaid benefits. This topic will help practitioners understand and explain the elements of a properly drafted irrevocable trust created for the purpose of qualifying for VA and/or Medicaid benefits. It will also explain the VA and Medicaid rules and regulations and how they overlap with an irrevocable trust in this context so that practitioners can recognize when this kind of trust might be appropriate.
Agenda
Faculty
T. Nikki Mitchell
Mitchell, Brown & Associates, LLC
- Partner with Mitchell, Brown & Associates, LLC
- Practice emphasizes all aspects of elder law, including estate planning, long-term care planning, Medicaid planning, asset protection, Medicare, incapacitation issues, end-of-life decision making, guardianship and conservatorship estates, probate, special needs planning and special needs trust, and veteran’s benefits
- Certified Elder Law Attorney as certified by the National Elder Law Foundation
- Member of the Missouri Bar; National Association of Elder Law Attorneys (NAELA); Missouri Bar Probate and Trust Committee, vice-chair of Subcommittee on Diversity; Bar Association of Metropolitan St. Louis (BAMSL); associate member of the Special Needs Alliance; and vice-chair, Missouri Bar Elder Law Committee
- VA accredited attorney
- Publications include Guardianships and Conservatorships 2nd Ed. Guidebook, Missouri Bar; Missouri Elder Law, 2020-2021 ed. and 2021-2022 ed., Thomson Reuters; Missouri Elder Law Deskbook, 3rd ed., Chapters on Guardianships and Conservatorships and MO HealthNet, Missouri Bar; Educating Children with Dual Cognitive and Emotional Disabilities, Maryland Bar Journal, Nov. 5, 2015, and Cage-Free, Free-Range, Organic? Why Animal Welfare Depends on a New Government Labeling Scheme, New York State Bar Assn Committee on Animals and the Law, Nov. 15, 2012
- J.D. degree, University of Maryland School of Law; B.A. degree, University of Texas, Arlington
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