Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Saturday, January 12, 2019

Article on Elder Law Issues and Recent Developments 2018

ElderlawElizabeth Ruth Carter recently published an Article entitled, Elder Law Issues and Recent Developments 2018, Wills, Trusts, & Estates Law eJournal (2018). Provided below is an abstract of the Article.

These CLE materials provide an overview of the recent developments in Elder Law that occurred between 2017-2018. Topics include legislative and jurisprudential developments in consumer protection, crimes against the elderly, mandate and interdiction, and medical law changes. Attention is also given to the Tax Cuts and Jobs Act.

January 12, 2019 in Articles, Current Affairs, Disability Planning - Health Care, Disability Planning - Property Management, Elder Law, Estate Planning - Generally, New Legislation | Permalink | Comments (0)

CLE on Elder Law and Medicaid Planning: Everything You Need to Know

CLEThe National Business Institute is holding a 2-day conference entitled, Elder Law and Medicaid Planning: Everything You Need to Know, on Wednesday, April 17, 2019 - Thursday, April 18, 2019 at Capital Center Property LLC in Indianapolis, Indiana. Provided below is a description of the event.

Program Description
Everything You Need to Know to Represent Elderly Clients
Rising medical costs, health insurance changes, and looming Social Security Fund depletion have intensified concerns over long-term care funding. Are you doing everything you can to help each client develop a comprehensive plan to ensure proper quality of life in the golden years? Join our expert faculty for two days of intensive study on planning and coordinating government benefits, and emerge better prepared to face the challenges of today's Medicaid and elder law practice. Register today!

  • Get two full days of estate planning training, so you can help clients protect assets and qualify for continuing care benefits.
  • Review medical and financial Medicaid eligibility criteria in detail.
  • Explore new continuing care options that allow for more independence.
  • Get solutions to real-life ethical dilemmas often faced in elder law practice.
  • Qualify eligible clients for veteran's benefits and maintain your VA accreditation.
  • Plan for the tax consequences of asset transfers on spenddown requirement compliance.
  • Minimize Medicaid estate recovery through intricate understanding of the process.
  • Make better use of special needs trusts.

Who Should Attend
This basic-to-intermediate level, two-day seminar is designed for attorneys. It may also be of value to estate and financial planners, trust officers, paralegals, accountants, tax professionals and nursing home administrators.

Course Content

DAY 1

    • Long-Term Care Planning: Types, Cost, and Funding Options
    • Tax Considerations
    • Powers of Attorney
    • Medical and End-of-Life Decisions
    • Medicaid Benefits and Eligibility Rules
    • Preserving Family Assets When Qualifying for Medicaid
    • Medicaid Application Procedure and Tactics

DAY 2

    • Obtaining Veteran Benefits
    • Special Needs Trusts: Creation, Taxation, Administration
    • Medicaid Post-Eligibility Issues
    • Coordinating Benefits and Other Income Sources
    • Liability/Litigation Issues in Elder Law
    • Ethical Dilemmas

January 12, 2019 in Conferences & CLE, Disability Planning - Health Care, Disability Planning - Property Management, Elder Law | Permalink | Comments (0)

Wednesday, January 9, 2019

Estate Planning Resolutions For 2019: How to be a Grown-Up in The New Year

WilltestamentNew Year, New Me! That seems to be the mantra for many people when January rolls around, coming up with redundant resolutions. But this year, a resolution that could be resourceful and highly beneficial would be to get a head-start of this perennial to-do list:

  • Write a Last Will and Testament:
    • Every person over the age of 18 should have this document to lay out the disposition of your assets and the guardianship of your children in the event you die.
  • Make a Power of Attorney:
    • This can include the power to bank, file taxes, and even sell and purchase real estate on behalf of another individual.
  • Execute a Health Care Proxy:
    • It is vital in this day and age to make your wishes known to your appointed agent, including your preferences for care in the event you suffer from a terminal illness with no chance of survival
  • Purchase a Life Insurance Policy:
    • This is not for you but for your family and loved ones after you pass away, making it easier financially for them.
  • Check Beneficiary Designation Forms:
    • Make certain that a proper beneficiary or secondary beneficiary is designated for all accounts, including retirement or insurance accounts.
  • Consider Long-Term Care and Disability Insurance:
    • If the unexpected occurs, this type of policy can supplement your income or pay a benefit toward home or nursing care.
  • Consult with a Financial Advisor:
    • The advisor may work together with your attorney to make certain you have a solid and comprehensive estate plan.
  • Talk to Your Parents and Grandparents About their Estate Plans:
    • When parents and children ultimately have to switch roles it is best to now what the older generation's wishes are.
  • Consider Burial Options:
    • Though it may be a morbid subject that you do not want to dwell on, it is a subject that needs to be discussed with your family.
  • Inventory Your Assets:
    • Take a survey of everything you own from real property, personal property, and intellectual property, and if there is a question as to rights of ownership, try to resolve them before those issues are passed on to your heirs.

See Cori A. Robinson, Estate Planning Resolutions For 2019: How to be a Grown-Up in The New Year, Above the Law, January 8, 2019.

Special thanks to Carissa Peterson (Hrbacek Law Firm, Sugar Land, Texas) for bringing this article to my attention.

January 9, 2019 in Current Affairs, Death Event Planning, Disability Planning - Health Care, Disability Planning - Property Management, Estate Planning - Generally, Wills | Permalink | Comments (0)

Friday, January 4, 2019

CLE on Ed Slott and Company's 2-Day IRA Workshop - Las Vegas 2019

Vegas1Ed Slott and Company's is holding a 2-Day IRA Workshop on February 22-23, 2019, in Las Vegas, Nevada. Provided below is a description of the event.

Your target market's demographics preview an overflow of new business opportunities:

  • IRAs are the nation's largest retirement account with $8.2 trillion in total nationwide assets ... and growing!
  • 2.5 million Baby Boomers turned age 70.5 last year ... can you imagine the influx of RMD questions coming your way?
  • 10,000 Boomers retire every day - many with large company retirement plans and no plan on how to best protect those assets

Instant IRA Success is your answer to capturing your share of this growing marketplace. Our educational IRA experience includes:

  • 400+ page course manual
  • Valuable CE credits
  • Client-saving Q&A opportunities with America's IRA Experts
  • A detailed analysis of the most recent tax law changes, case studies, private letter rulings, Congressional action and Supreme Court rulings to keep you on the cutting-edge of retirement, tax law and IRA distribution planning

January 4, 2019 in Conferences & CLE, Disability Planning - Health Care, Disability Planning - Property Management, Estate Administration, Estate Planning - Generally | Permalink | Comments (0)

Tuesday, January 1, 2019

American Parents are Spending Billions on Their Adult Children

MoneyParents are supporting their children beyond their formidable years according to a current trend. Merrill Lynch conducted a study that found that 79% of parents continue to provide financially for their adult children, not only for the big purchases such as college and weddings but also for the everyday expenses such as rent, groceries, and bills.  This amounts to $500 billion annually from parents, twice as much as being contributed to retirement accounts. 63% of parents said in the study they have sacrificed their financial security for the sake of their children.

Adults are also continuing to live at home with their parents, and one in four of those of adults neither go to school nor do they work. "You start to see adult children who are not being put in a position where they can be successful in their own right because they have a crutch which is different than an opportunity," said Denise Hoffman White, a tax and estate planning attorney based in Denver.

"You want to give … but sometimes giving them isn't actually helping them," said Gary Cooper, a private wealth adviser at UBS Financial Services. "Our job is to help them, not do for them, right?"

See Barry Petersen & Vidya Singh, American Parents are Spending Billions on Their Adult Children, WIVB.com, December 15, 2018.

Special thanks to Naomi Cahn (Harold H. Greene Professor of Law, George Washington University School of Law) for bringing this article to my attention.

January 1, 2019 in Current Affairs, Disability Planning - Property Management, Estate Planning - Generally | Permalink | Comments (0)

Monday, December 31, 2018

CLE on Family Farm in Estate Planning and Probate

CLEThe National Business Institute is holding a webcast entitled, Family Farm in Estate Planning and Probate, Wednesday, January 23, 2019, from 9:00 a.m. to 4:00 p.m. Central. Provided below is a description of the event.

Program Description
Tackle Key Succession, Transfer, and Asset Protection Issues
Get all the knowledge and skills you'll need to effectively draft and administer estate plans that include a family business. From choosing the entity structure and the method of transfer to calculating tax consequences and ensuring a smooth transition, this course will give you everything you'll need to effectively handle business interests as part of estates. Register today!
Walk through every step of estate planning and administration as it relates to family business interests.
Learn how to structure transfers to a third party and within the family, outright and gradual.
Ensure continued operations during estate administration.
Take the most tax-efficient route when planning for each unique family business succession.

Who Should Attend
This legal guide is designed for attorneys. Estate planners, accountants and CPAs, tax professionals, trust officers, and paralegals may also benefit.

Course Content
Choosing the Business Entity and Planning for its Estate Planning Implications
Medicaid Planning and the Farm Assets
Transferring Within the Family and Planning for Heirs
Structuring the Sale or Transfer of Interest to Third Party
Ensuring Continued Operations for the Duration of Estate Administration
Making Use of Agricultural Use Valuation
Structuring and Conducting the Farm Transfer in Probate
Tackling Common Farm Probate Challenges
Maintaining an Ethical Practice
Closing the Estate

December 31, 2018 in Conferences & CLE, Current Events, Disability Planning - Property Management, Estate Administration, Estate Planning - Generally, Trusts, Wills | Permalink | Comments (1)

Article on Tax Reform on Homeownership and the Impact on Children

FamRyan Shouse & Margaret Ryznar recently published an Article entitled, Tax Reform on Homeownership and the Impact on Children, Tax Law: Tax Law & Policy eJournal (2018). Provided below is an abstract of the Article.

This article discusses several homeownership provisions modified by the Tax Cuts and Jobs Act, and how they affect children.

December 31, 2018 in Articles, Current Affairs, Disability Planning - Property Management, Elder Law, Estate Planning - Generally, New Legislation | Permalink | Comments (0)

Tuesday, December 25, 2018

The 10 Cheapest States for Your Aging Parents in 2018

C Oklaaring.com examined 11 different socio-economic factors critical to the overall expense of caring for an aging parent. This included their internal data on senior care costs, Genworth's 2017 report on the average cost of senior care in each state, a cost of living index, and other data. “It all comes down to finding that ideal balance between a low cost of living and the accessibility of services,” says New York City-based eldercare advisor Joanna Leefer.

Here is the 10 cheapest states, starting at #10 and counting down to the most affordable state.

  • Arizona
  • Ohio
  • Texas
  • Tennessee
  • South Carolina
  • Idaho
  • Wisconsin
  • Missouri
  • Mississippi
  • Oklahoma

See Nick DiUlio, The 10 Cheapest States for Your Aging Parents in 2018, Caring.com, December 14, 2018.

Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.

December 25, 2018 in Current Affairs, Disability Planning - Property Management, Estate Planning - Generally, Travel | Permalink | Comments (0)

Monday, December 24, 2018

CLE on Estate Planning and Administration: The Complete Guide

CLEThe National Business Institute is holding a conference entitled, Estate Planning and Administration: The Complete Guide, on Wednesday, January 23, 2019 - Thursday, January 24, 2019, at the Hilton Garden Inn San Diego Mission Valley/Stadium in San Diego, California. Provided below is a description of the event.

Program Description
Find Out How Key Estate Planning Tools are Drafted and Implemented


Every client's estate is unique in its assets composition, family dynamics and future needs, but all are ruled by the same principles and are subject to the same tax and legal limitations. In this comprehensive legal guide, experienced attorney faculty will guide you through the process of estate planning and administration and show you how to select the best trust instruments and wield them skillfully to avoid mistakes at probate. They will also teach you how to properly administer the estate and tackle potential mistakes of improperly drafted documents, changed circumstances and newly arising conflicts. Become fully prepared to protect your client's legacies - register today!


Get an update on the current tax regime and other key regulations.
Get the case off on the right foot with a thorough and thoughtful client intake.
Compare key trust structures and their effect on the grantor and beneficiary tax future burdens.
Help clients plan for and fund long-term care.
Ensure confidentiality before and after the client's death.
Get useful checklists for key dates and tasks in estate administration.
Clarify what can be distributed through non-probate transfers and how to do it correctly.
Explore creditor issues in estate administration and get trouble-shooting tips from the pros.
Find out how much planning can still be done after the client's passing.
Discuss the duties and powers of fiduciaries, their limits and real-life application.
Get tips for closing the estate to prevent future disputes.

Who Should Attend
This basic-to-intermediate level seminar on estate planning and administration is designed for:
Attorneys
Accountants and CPAs
Paralegals
Tax Managers
Trust Officers
Certified Financial Planners
Investment Advisers

Course Content
DAY 1: ESTATE PLANNING AND TRUST BASICS
Key Laws and Client Intake/Goal Setting
Planning for Long-Term Care and End-of-Life Decisions
Testamentary Documents - Drafting Do's and Don'ts
Common Trust Structures and When They're Used
Transfers During Life and Inter-Vivos Trusts
Tax Consequences of Trusts


DAY 2: PROBATE AND ESTATE ADMINISTRATION
Probate Process Overview
Marshalling Assets and Dealing with Creditors
Post-Mortem Tax Planning Options
Legal Ethics in Estate Practice
Trust Administration and Termination Basics
Closing the Estate

December 24, 2018 in Conferences & CLE, Current Events, Disability Planning - Property Management, Estate Administration, Estate Planning - Generally, Estate Tax, Generation-Skipping Transfer Tax, Gift Tax, Non-Probate Assets, Trusts, Wills | Permalink | Comments (0)

Sunday, December 23, 2018

Article on Don't Forget About Pets When Planning for Disability and Death

PetsGerry W. Beyer and Barry Seltzer published an Article entitled, Don't Forget About Pets When Planning for Disability and Death, Wills, Trusts, & Estates Law eJournal (2018). Provided below is an abstract of the Article.

Dogs, cats, parrots, and other pet animals play significant roles in the lives of many individuals. The bond between a pet owner and his or her companion is strong, and recent studies show that this bond can be even deeper with older owners. Accordingly, it is of vital importance to include pets when a pet owner, especially an older one, makes plans for disability and death. This article provides an overview of the techniques a pet owner should consider when planning his or her estate.

December 23, 2018 in Articles, Disability Planning - Property Management, Estate Administration, Estate Planning - Generally, Trusts | Permalink | Comments (0)