When it comes to the proper functioning of a trust, the trustee has the responsibility to make sure everything works the way it is supposed to. The trustee makes sure to manage the trust’s assets on behalf of the trust’s beneficiaries in accordance with the guidelines in the trust document and any applicable laws and regulations.
The information discussed and/or provided is not intended as legal advice and persons should not rely on anything posted on this blog. Please also be advised that no attorney-client relationship is established until the firm has been contacted by telephone and an appointment made to discuss your situation with us.
Special Needs Trust as Retirement Account Beneficiary
July 23, 2018
Special needs trusts can be valuable tools to help provide for someone with special needs. One option to fund a special needs trust is to name the trust as the beneficiary of a person’s retirement account. However, there are a number of areas to watch out for that could result in significant unintended costs if not taken care of properly. These pitfalls go beyond the expected knowledge of a general financial planner and require the expertise of an experienced elder law attorney.
Seniors and Driving
July 16, 2018
As individuals get older, the question of whether or not a person should still be behind the wheel can come up. While there may come a time when a person is unable to drive safely, there are steps people can take to stay on the road for longer.
Medicare Nursing Home Ratings
July 5, 2018
Choosing a nursing home or specialized care facility is an important decision that can significantly affect the quality of life of a potential resident and their family. Medicare has a ratings system that aims to provide the public with information about how to choose between nursing homes. However, this rating system has its flaws and should, at most, only be one factor in choosing a nursing home.
Warning Signs of Elder Financial Exploitation
June 25, 2018
The elderly are often targets for various forms of financial exploitation. Exploiters often seek out the elderly to victimize because of their increased likelihood of isolation due to physical limitations, death of their spouse, or loss of interpersonal interactions after retirement.
Retirement Accounts and Medicaid Planning
June 4, 2018
When applying for Medicaid nursing home coverage, different states have different rules for how retirement accounts, such as IRAs and 401(k) accounts, are treated.
To qualify for Medicaid nursing home coverage, an applicant’s total assets must fit under a fairly restrictive asset cap. Some assets, however, are exempt from being counted toward the asset cap. For most people, their main exempt asset is their primary residence.
Limits of the Medicaid Child Caregiver Exemption
May 17, 2018
When applying for Medicaid nursing home coverage, an individual’s total assets have to comply with a very restrictive asset cap before Medicaid pays for nursing home coverage. This asset cap even requires that any gifts or below market transfers made within the previous five years still count as assets. This policy of including transfers made in the past five years is commonly known as the look-back period.
The Role of a Trust Protector
May 8, 2018
At a basic level, trusts have three roles. The settlor, or trust creator, dictates the terms of the trust and places assets in the trust. The beneficiaries are the people for whose benefit the trust was created. The trustee then manages the trust assets for the benefit of the beneficiaries in accordance with the terms of the trust.
When To Enroll in Medicare
April 30, 2018
While Medicare eligibility begins at age 65, some people, under certain circumstances, may choose to delay enrollment in certain aspects of Medicare.
Medicare Basics
Individuals become eligible for Medicare at age 65. Medicare Part A covers inpatient hospital care, skilled nursing care, and hospice care. Individuals are eligible for premium-free Part A coverage if they, or their spouse, have paid Medicare taxes for 10 years, or 40 quarters.
Palliative and Hospice Care
April 23, 2018
The recent death of former first lady Barbara Bush and the earlier disclosure that she had chosen to no longer seek medical treatment in favor of comfort care raised issues about medical decisions and end-of-life planning.
Martha C. Brown & Associates, LLC assist clients with Estate Planning, Elder Law and Probate in St. Louis City, St. Louis County, St. Charles County, Jefferson County, Franklin County and the surrounding areas including Arnold, Ballwin, Barnhart, Bellefontaine Neighbors, Black Jack, Bonne Terre, Brentwood, Bridgeton, Cedar Hill, Chesterfield, Clayton, Crestwood, Creve Coeur, Crystal City, Des Peres, DeSoto, Ellisville, Farmington, Fenton, Festus, Ferguson, Florissant, Fredericktown, Frontenac, Hazelwood, Herculaneum, High Ridge, Hillsboro, House Springs, Imperial, Kirkwood, Ladue, Lake St. Louis, Manchester, Maplewood, Maryland Heights, Mehlville, Normandy, O'Fallon, Olivette, Pacific, Pevely, Richmond Heights, St. Ann, St. Charles, St. Clair, St. Peters, Ste. Genevieve, Sunset Hills, Town & Country, University City, Union, Valley Park, Washington, Webster Groves, Wentzville , Wildwood.