Learn useful estate planning techniques with funeral trusts in mind and how to best advise your clients for the future.
With the ever-changing economy and the aging population, more individuals and couples are seeking information on asset protection as they look toward long-term health care and/or nursing home costs. These costs can wipe out a lifetime of savings if careful advance planning is not considered. Attorneys, financial planners and CPAs are often consulted by clients seeking ways to ensure that their final care and burial expenses are covered by their assets and not left to burden their children. Irrevocable funeral trusts provide a means of setting aside funds for the specific purposes of final arrangements as non-countable assets for the purpose of qualifying for Medicaid. Having this as one of your tools to help clients become Medicaid eligible will increase the value of the services you offer your clients and deepen your understanding of what assets Medicaid will permit individuals to retain to lessen their fears about approaching end of life decisions. This topic will address the permissible amounts, costs covered, and exclusions for each state and will move at a brisk, but interesting pace.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Estate Planning - Why Plan Ahead?
- Intestacy Laws in General
- Family Issues
- Failure to Resolve Title Issues
- Medicaid
- Risk Exposure
Funeral Trusts
- Advantages
- Compared and Contrasted With Pre-Paid Funeral Plans
- Medicaid Consequences
Flexibility Aspects of Funeral Trusts
- Portability
- Avoids Immediate Decisions
- Family Choices
- Funding Sources
Asset Protection
- Single Pay Premium
- Look Back Period Avoidance
- No Annual Trust Fees
- Tax-Free Income Benefit
Medicaid Lite
- Special Expertise Not Required
- Simplicity
- Permissible Expenses
- Policy Features
- Excluded IFT Expenses
State Differences
- Max Value per Individual
- Goods and Services Form Requirements
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Credit
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on July 16, 2020.
Call 1-866-352-9540 for further credit information.
- CA MCLE 1.5
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Vicki Levy Eskin
Levy & Associates, PA
- Owner of Levy & Associates, PA, a small law firm in Longwood, Florida
- She focuses her practice on probate, guardianship, trust administration and estate planning, including specific trusts, Medicaid planning, and veteran's assistance programs
- Has an active circuit civil and appellate mediation practice
- Served three years as the National Solo and Small Firm Conference chair for the American Bar Association, has maintained an active leadership role for many years for the GP|Solo division of the ABA, and served as ABA advisor to the survey and drafting committee for the Uniform Law Commission Committee during its three year work on creating the model code for fiduciary access to digital assets and the parallel committee for the RPPTL division of the Florida Bar
- Spoke before the Florida Legislature twice in support of FADAA and RUFADAA, leading to its ultimate enactment in her state
- Written and lectured extensively on preserving digital assets, FADAA, RUFADAA, trusts, international estate planning and other areas of estates, trusts and probate administration and small office management
- Through her work with the American Bar Association, she serves as a mentor to solo and small firm practitioners throughout the United States
- She has a history of involvement in local and state bars, including membership in the Iowa State Bar and has served on several community advisory boards
- Can be contacted at http://levylawyers.com
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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