Designing and Drafting Effective Irrevocable Medicaid Trusts

November 7, 2019
The LAB @ Denver
Price: $595

About The Event

Join us for an intensive hands-on course that teaches you how to properly design and draft legal documents using ElderDocx® drafting software. Our legal experts will be on hand to guide you through the interviews, to explain the pros and cons of choices within the interview, and to make sure you understand the law that applies so that you can draft with confidence.

Need help navigating the software? Our Account Managers will also be on hand if you need additional hands-on training.

The Speakers

Brian Albee, J.D.
Brian Albee, J.D.
ElderCounsel
Jill Roamer
Jill Roamer, J.D.
ElderCounsel

Thursday, November 7, 8:00 a.m. – 5:00 p.m.

08:00
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08:15
Welcome and Overview
08:15
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09:00
Overview of Medicaid Rules
In this session, we will review Medicaid rules as they pertain to assets, income, and gifting. We will discuss when and how a MAPT can be an effective tool in elder law planning, given these Medicaid rule restrictions. We will also talk about the difference between proactive and crisis planning in elder law.
09:00
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10:15
Overview of the MAPT
Let’s talk about the Medicaid Asset Protection Trust, and how it is useful in elder law planning. We will discuss three rules that can never be broken and why a self-settled trust is used. We will discuss the difference between an individual and joint trust, and when one would be more appropriate to use over the other. We will wrap up this session by reviewing the different distribution standards available for the MAPT in ElderDocx.
10:15
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10:30
Break
10:30
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11:00
Grantor Trust Status
How is grantor trust status achieved? Can you draft the MAPT as a nongrantor trust? When would I want to structure the MAPT as a grantor trust vs. a nongrantor trust?
11:00
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11:30
Taxation and the MAPT
During this session, we will explore the income, estate, and gift tax consequences of the MAPT.
11:30
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12:00
Trust Protectors
This session is all about trust protectors; who they are and why they are important in MAPT. We will discuss trustee removal options, trust termination power, and trust protector designators.
12:00
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01:15
Lunch
01:15
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02:30
Trustees and Lifetime Beneficiaries
Here, we will talk about the choice of trustee, and the difference between an interested trustee and an independent trustee. We will review the powers and restrictions of a trustee available in the MAPT. We will also discuss what a distribution trustee is and how that role might be beneficial to include in the trust. Then, we will turn our focus to lifetime beneficiaries and learn about the different distribution options available for the lifetime trust in the MAPT.
02:30
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03:00
Trust Funding and Administration
What tax ID numbers should be used? How and when should the MAPT be funded? We will answer these questions and also review some commonly asked questions about administering the MAPT.
03:00
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03:15
Break
03:15
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04:00
ElderDocx Tips and Tricks
We will show attendees helpful tips and tricks when using ElderDocx, including how to import contacts and how to use scenarios and design sheets. We will demonstrate how to customize ElderDocx provisions and discuss the benefits of an annotated document.
04:00
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05:00
Talking About the MAPT to Others
We will give attendees tips on how to speak to clients and referral sources about the MAPT. We will also give attendees the tools necessary to properly convey the taxation scheme of the of the MAPT to CPAs. Finally, we will wrap up the day by giving attendees tips to market the MAPT within their community.

Event Sponsors

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Space is limited! Register today!

Designing and Drafting Effective Irrevocable Medicaid Trusts

November 7, 2019  |  The LAB @ Denver

Event Location:The LAB @ Denver, 999 18th Street, Suite 1155 N, Denver, CO 80202

Denver Accommodation & Activity Recommendations

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