Interactive Legal Blog

Helping Clients Understand Disbursements from a Pooled Special Needs Trust

Author: Joanne Marcus, MSW
Commonwealth Community Trust, Richmond, VA

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This is the second article in a series on Pooled Special Needs Trusts. Click here to read the first installment, An Overlooked Planning Option: Pooled Special Needs Trust.

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The number one concern among Beneficiaries and Advocates regarding a pooled special needs trust (PSNT) is understanding how the trust and disbursement process work. Accessing the trust and requesting disbursements should not be frustrating. Upfront explanation of how the disbursement process works and how and why decisions are made can help your client avoid confusion.

Digital Marketing for your Estate Planning and Elder Law Practice

Author: Eric Needle | President, Longbow Strategic Group

In 2018, we recommend you do one thing to market your business: Engage in digital marketing.

When people search for the services you provide, they need to find your practice. If you’re not actively marketing yourself online, focused on search, then you risk losing new business.

When a Gen-X’er or Millennial needs information, they turn to Google—and other search engines.

As someone who just this year had to research living wills, trusts and managing the financial affairs of my aging parents, I understand the mindset.

Mom and Dad live two hours south of me in West Palm Beach, Florida. They shouldn’t be driving and they need help, daily. Outside of my local sphere of influence, I can’t hop in the car and rush to their defense with just a moment’s notice.

Questions I need to know include:

• How do I protect my parents?
• What are their wishes, do they have living wills, and what is a living will?
• When do I need to take control of their affairs and how do I do that?
• What is power of attorney?
• How does assisted living work?
• How do I pay for it?
• How do I manage my Dad’s VA benefits?
• or help them manage their bills, finances and taxes?

I’m sure you hear these questions—daily—in the operation of your legal practice.

When people have these questions and search online, what answers, or more importantly, where do they turn for a solution?

 

ILS 8 Coming Soon

InterActive Legal has been busy, working on our framework. Version 8.0 is coming soon!

Martin Shenkman is Appointed to Advisory Board at InterActive Legal

InterActive Legal Recognizes NJ Estate Planner’s Numerous Contributions

Melbourne, FL— InterActive Legal announces the appointment of Martin M. Shenkman, CPA, MBA, PFS, AEP (distinguished), JD, as a member of the InterActive Legal Advisory Board.

Mr. Shenkman is a prolific speaker and author, and the Founder of Shenkman Law, a law firm with offices in New Jersey and New York, through which he represents clients in estate and tax planning, planning for closely held businesses, and estate administration. Mr. Shenkman is also actively involved in many charitable causes, frequently giving presentations to charitable and professional organizations around the country.

Avoiding the Accidental Estate Plan

By Teresa Bush

As estate planners, part of our job is making sure our clients’ desires – as far as who receives their property – are fulfilled.  Some clients know exactly what they want, and others need to be provided with options so that they can choose the who and the how.  But in every case, we also must help our clients to consider all possibilities, with respect to both the people and property involved. 

Why January Is Busy For Elder Law Attorneys and What Can You Do To Prepare

by Letha Sgritta McDowell, CELA

January tends to be a very busy time for elder law attorneys. 

The holiday season seems to result in increased injury and illness for the elderly which results in more rehabilitation leading to long term care needs.  On top of those long term care needs that result from illness or injury, many children return home for the holidays and realize that their parents need more assistance than they had anticipated.  All of these add up to increased need to find and organize long term care services and a need to plan for payment of long term care costs.

Is It Time To Panic?

by Letha Sgritta McDowell, CELA

Unless you have been hiding under a rock for the last week, you undoubtedly know that America is still reeling from the election.  Regardless of your political view, the fact that a reality television star is going to be the next POTUS is surreal.

Why Estate Planning Will Be More Popular Than Ever

by Michael Graham

During the first few weeks following the Presidential election, blogs and list serves were full of predictions for an immediate permanent repeal of the Federal estate and generation-skipping tax system, with retention of the gift tax system to protect against indiscriminate income tax shifting.

See-Through Trust Planning: Stretch, but Avoid Contortions

by Vanessa Kanaga

I would like to start this post with a potentially controversial statement:  When planning for qualified retirement plans and IRAs (which I will sometimes refer to as "retirement benefits"), achieving the longest "stretch-out" period for distributions is not always the most important goal.  I know this may be met with a certain amount of deserved skepticism, but I hope you will bear with me, and allow me to state my case. 

Special Needs Trust Fairness Act Signed

by Letha Sgritta McDowell, CELA

At 2:30 p.m. Eastern Time today, President Obama signed the 21st Century Cures Act, which contains the Special Needs Trust Fairness Act that was passed by the Senate last week. While it seems to be a minimal change – literally inserting the term “the individual” into 42 U.S.C §1396p(d)(4)(A) – the Special Needs Trust Fairness Act has big implications. Until now, a first-party special needs trust could only be established by a parent, grandparent, guardian, or court, on behalf of a person with a disability. This presumed that all people with disabilities lacked the capacity to establish their own trusts. After today, people with disabilities may establish their own trusts, allowing them to contribute to their independence and quality of life.