Estate planning takes into account the identity of personal representatives, successor personal representatives, beneficiaries and trust provisions. This would also entail staggered distributions to minors in regard to bequests, depending upon facts and circumstances. We have been involved in trust matters for years, including drafting Irrevocable Trusts, Revocable Trusts, Medicaid Trusts, Testamentary Trusts, Intervios Trusts, and other documents.
This work includes identifying trustees, successor trustees, the terms and conditions of any trusts, directives regarding distributions made to beneficiaries or other and similar matters. We are often contacted by family and friends of elderly individuals who face myriad of problems in regard to Medicaid planning. Some of these issues have to do with the value of the assets, contemplated transfers and how same may impact Medicaid planning. In some instances, individuals are very close to being admitted to a care facility and are concerned about disclosures they are being requested to make. In other cases, clients have concerns regarding what property or income they can keep and how this impacts eligibility for Medicaid. We review with our clients the nature and extent of assets of the individual, transfers or other matters impacting the assets to date, review information and materials that may be presented and perform due diligence analysis prior to giving clients their options regarding strategies that may be available.