Thank you for your videos, I trust received a settlement from personal injury in FL and can a family member be the trustee of a 3rd party SNT for me being over 65yr old?
I’m trying to do research on special needs trust. My father passed away this week and my sister says that he left me half of his IRA. I am on SSI and Medicaid. I’m so terrified that I’m going to lose my benefits and be homeless and lose my medical care. She said she’s going to meet with a lawyer soon to figure this all out. I told her about the special needs Trust that needs to be created for me, and that I wanted her to be their trustee.
Thank you for these very helpful videos! Question for you - do you need to notify Social Security of the existence of the special needs trust once it is set up and funded?
Thank you for sharing your experience and information. I am in Iowa and the Conservator for my 35 year old son. I have created a Special Needs Trust with a local attorney here but I am concerned that I don't really have a comprehensive plan for him going forward with regards to Medicare/Medicaid and his future if we should pass before him. Would you happen to have an attorney in the State that you could reccomend or refer me to that can review what we have and make reccomendations?
Hello Ms. Cookman, On the fifth pitfall, when you say create a separate SNTrust is that a first party SNTrust or a third party SNTrust? That is, the first party SNTrust the grantor would be the Special Needs Person and MediCal can be paid back for whatever debt is incurred, or are you suggesting a third party SNTrust (the parents are the grantor, correct?) then MediCal would not have access to these funds in that trust? Thank you for the clarification.
Hi! Thank you for taking the time to watch the video and for your great question. In the 5th Pitfall section, I am talking about a 3rd Party SNT created by a parent in their revocable trust. I'm emphasizing that it is better to create a standalone 3rd Party SNT - one that is created immediately, as opposed to a testamentary 3rd Party SNT, one that is created when the parents die. The reason to create a 3rd Party SNT Trust immediately is that it is ready to catch money from other sources. For instance, if a grandparent predeceases the parents and directs his or her trust to give money to the child's SNT, then there is one ready to accept the funds.
On my goodness. Thank you so much. I’m in Texas and will take this info w me for further research. I thought SNT wld protect the beneficiary from what I understand to be risks of the ABLE accounts. It boggles my mind that a qualified attorney specializing in this kind of law could draft the language incorrectly. Do you find these poorly written SNT are written by attorneys not specializing in this kind of law? Thank you very much.
So glad you're enjoying the content and asking these great questions. Special needs trusts and ABLE accounts are both useful tools that complement one another. Special needs planning is a nuanced area of the law that benefits from specialized knowledge beyond the scope of general estate planning.
We move a lot for our job. What happens when I set up a SNT for my son while living in Indiana and then a year later get transferred to another state. Same questions for an ABLE account? Thank you so much.
For your son’s SNT, this is difficult to answer, since public benefits laws are different between states. Your son can keep his ABLE account wherever he’s established it, but again, the state where you move might have their own rules regarding ABLE accounts.
I just became an executor of a special needs trust, non revocable, and replaced the executor who died. I attempted to replace the former executor trustee, who died. I have a court order, signed by a judge. The bank, Wells Fargo, would not replace the deceased executor, without a death certificate. I have a court order, stating the date the former trustee died! I obtained the death certificate from the beneficiary, and they want it sealed?? It’s a Texas Death certificate and no seal? The Judge has signed off on this document, and named me the trustee? I’m so frustrated! Furthermore, the banker was pretty rude to me? Is it my responsibility to get the death certificate to the bank? Why does the court document, signed by a judge, not supersede the death certificate? I’m just my best friend’s trustee. And she has had to pay about 2000$ to get this documentation! This trust was executed in Florida btw.
Thanks for your work in this area. We have a level 3 child with Autism with a trust that has a special needs provision after we die. We also have a trust that contains property that we are planning on to fund the special needs trust. Do we need a stand alone special needs trust to separate the funding assets from the original trust? Or can the SNT be the trustee of the funding trust. We are in NV. Thank you.
We usually recommend setting up a stand-alone SNT that can receive assets from the revocable trust when you die. But laws are different in Nevada than in California, so we suggest you consult with a Nevada special needs attorney. I believe Laura Stubberud practices there: www.stubberudcuen.com/laura-stubberud
Thank-you for your instructions. I am a California attorney and trustee of a stand-alone special-needs trust (SNT) that a created for my developmentally delayed niece who receives SSI (and Medical?). The SNT is in turn funded by inheritance from a relative's will that included bare-bones language for holding money in a vaguely-worded testamentary trust for my niece. My question is this. Is the SNT a first-party trust created from my niece's own inheritance--albeit in the aforementioned testamentary trust or is the SNT a third-party trust because the aforementioned inheritance was transferred into a testamentary trust and not granted directly to my niece?
William - Thank you for reaching out! To answer your questions, I would need to look over the relative’s will and the stand-alone SNT. Would you mind contacting our office? Thanks again!
this is going to sound really odd probably. a stranger took it upon himself to go and set up a special needs fund for my son who is on govt benefits because he has major medical issues and he can't lose anything. i had no idea until he died and his friend told my brother. this man we have never talked to or ahything and i asked my brothers friend to ask whos in charge and its someone we don't know. this man didnt have a clue what is wrong with my son or what he gets as far as benefits.my son feels very uncomfotable with the whole thing as do i, does my son have to accept it or since i have power of atty for my son can i not accept it without it affecting him at all. i just don't feel that anyone should be able to go and do something like this.
Wow, that is strange! Your son might be able to disclaim the inheritance, but that could interfere with his public benefits. You should consult with an attorney in your state on this.
I am 49 years old and am on ssdi. My dads health is not well. I have 3 older brothers. My dad has set up my brother to be a trustee for me. I am looking at getting a large inheritance. Probably close to 350,000. My son receives Medicaid and I get my premiums paid thru Medicaid. I live in Oklahoma. What can I do to set up to protect myself from me not losing my benefits or me having to pay back what they have paid towards me and my son since being on Medicaid. Isn’t it better if my dad sets something up as opposed to me before he passes?
Hello Shana. Thank you for watching this video and posing your question. I am sorry to hear about your dad's health. I would like to hear more about your story. Please send me an email at Ellen@Cookmanlaw.com and we can see how to get you the best assistance tailored for your situation. Again, sorry to hear about your dad!
I don’t know anyone personally, but I checked on the Academy of Special Needs Planners attorney search page, and it looks like there is someone in Santa Fe/Albuquerque: specialneedsanswers.com/new-mexico-special-needs-planners/santa-fe
Hello, my son and I just received a settlement together. No statement on division yet. How long can the attorneys hold this before put in trust. And it sounds like its best that I set up a 3rd party for him so medical will never have access to the $?
From what you’re describing, it sounds like your son’s money would be considered his own money, so it should go into a 1st party SNT, not a 3rd party SNT. Here’s a video I did on the subject: How to Receive an Inheritance While on Public Benefits
It depends on the rule. Some of the rules are federally-based and apply to all states; other rules can be (and often are) adjusted by that specific state.
Does the ben of a 3rd party Snt have to be disabled or what if they receive more then 2200 a month. and not receive on ssi or Medicaid as trust maker thought. can it be terminated if trust doesn’t benefited the Ben of having a snt
Whether or not the SNT can be terminated really depends on the terms of the SNT itself. If the language of the trust doesn’t allow this, you might have to go to court to get an order to terminate the trust.
Can you recommend a Napa or Sonoma or Sf area lawyer who is fund fraud. My daughter trust fund was blatantly defrauded by the bank. We need a lawyer who will work on a contingency basis please and thank you
My wife and her brother are Beneficiaries of a special needs trust. Their aunt is the Trustee. My Brother-in-law is mentally disabled. The trust reads. (Family name) special needs Trust for (brother's name) (aunt's name) Trustee. Aunt has not paid the property tax in about 10 years. My wife has been trying to restore the trust and remove the aunt from office. Aunt is currently trying to sell the house and take all the proceeds. We are doing all we can to correct Aunt's negligence.
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Thank you for your videos, I trust received a settlement from personal injury in FL and can a family member be the trustee of a 3rd party SNT for me being over 65yr old?
@Ellen Cookman-Special Needs Trust Attorney. Thank you for this very informative video!
That's great to hear! I appreciate your feedback.
I’m trying to do research on special needs trust. My father passed away this week and my sister says that he left me half of his IRA. I am on SSI and Medicaid. I’m so terrified that I’m going to lose my benefits and be homeless and lose my medical care. She said she’s going to meet with a lawyer soon to figure this all out. I told her about the special needs Trust that needs to be created for me, and that I wanted her to be their trustee.
I wish you the best of luck with this process, and may the lawyer provide you with the best guidance.
how much it cost to make a living trust tesay from houston texas we are just a single family
@@halapasaway3815I have one it costc$2500
Thank you for these very helpful videos! Question for you - do you need to notify Social Security of the existence of the special needs trust once it is set up and funded?
Thank you for sharing your experience and information. I am in Iowa and the Conservator for my 35 year old son. I have created a Special Needs Trust with a local attorney here but I am concerned that I don't really have a comprehensive plan for him going forward with regards to Medicare/Medicaid and his future if we should pass before him. Would you happen to have an attorney in the State that you could reccomend or refer me to that can review what we have and make reccomendations?
I usually recommend the Academy of Special Needs Planners attorney online search engine: specialneedsanswers.com/about-us. Best of luck!
Hello Ms. Cookman, On the fifth pitfall, when you say create a separate SNTrust is that a first party SNTrust or a third party SNTrust? That is, the first party SNTrust the grantor would be the Special Needs Person and MediCal can be paid back for whatever debt is incurred, or are you suggesting a third party SNTrust (the parents are the grantor, correct?) then MediCal would not have access to these funds in that trust? Thank you for the clarification.
Hi! Thank you for taking the time to watch the video and for your great question.
In the 5th Pitfall section, I am talking about a 3rd Party SNT created by a parent in their revocable trust. I'm emphasizing that it is better to create a standalone 3rd Party SNT - one that is created immediately, as opposed to a testamentary 3rd Party SNT, one that is created when the parents die. The reason to create a 3rd Party SNT Trust immediately is that it is ready to catch money from other sources. For instance, if a grandparent predeceases the parents and directs his or her trust to give money to the child's SNT, then there is one ready to accept the funds.
On my goodness. Thank you so much.
I’m in Texas and will take this info w me for further research.
I thought SNT wld protect the beneficiary from what I understand to be risks of the ABLE accounts. It boggles my mind that a qualified attorney specializing in this kind of law could draft the language incorrectly. Do you find these poorly written SNT are written by attorneys not specializing in this kind of law?
Thank you very much.
So glad you're enjoying the content and asking these great questions. Special needs trusts and ABLE accounts are both useful tools that complement one another. Special needs planning is a nuanced area of the law that benefits from specialized knowledge beyond the scope of general estate planning.
We move a lot for our job. What happens when I set up a SNT for my son while living in Indiana and then a year later get transferred to another state. Same questions for an ABLE account? Thank you so much.
For your son’s SNT, this is difficult to answer, since public benefits laws are different between states. Your son can keep his ABLE account wherever he’s established it, but again, the state where you move might have their own rules regarding ABLE accounts.
I just became an executor of a special needs trust, non revocable, and replaced the executor who died. I attempted to replace the former executor trustee, who died. I have a court order, signed by a judge. The bank, Wells Fargo, would not replace the deceased executor, without a death certificate. I have a court order, stating the date the former trustee died! I obtained the death certificate from the beneficiary, and they want it sealed?? It’s a Texas Death certificate and no seal? The Judge has signed off on this document, and named me the trustee? I’m so frustrated! Furthermore, the banker was pretty rude to me? Is it my responsibility to get the death certificate to the bank? Why does the court document, signed by a judge, not supersede the death certificate? I’m just my best friend’s trustee. And she has had to pay about 2000$ to get this documentation! This trust was executed in Florida btw.
Thanks for your work in this area. We have a level 3 child with Autism with a trust that has a special needs provision after we die. We also have a trust that contains property that we are planning on to fund the special needs trust. Do we need a stand alone special needs trust to separate the funding assets from the original trust? Or can the SNT be the trustee of the funding trust. We are in NV. Thank you.
We usually recommend setting up a stand-alone SNT that can receive assets from the revocable trust when you die. But laws are different in Nevada than in California, so we suggest you consult with a Nevada special needs attorney. I believe Laura Stubberud practices there: www.stubberudcuen.com/laura-stubberud
Thank you for the reply.
I need help creating a will and special needs trust. I live in NM. Can you recommend an attny?
Thank-you for your instructions. I am a California attorney and trustee of a stand-alone special-needs trust (SNT) that a created for my developmentally delayed niece who receives SSI (and Medical?). The SNT is in turn funded by inheritance from a relative's will that included bare-bones language for holding money in a vaguely-worded testamentary trust for my niece. My question is this. Is the SNT a first-party trust created from my niece's own inheritance--albeit in the aforementioned testamentary trust or is the SNT a third-party trust because the aforementioned inheritance was transferred into a testamentary trust and not granted directly to my niece?
William - Thank you for reaching out! To answer your questions, I would need to look over the relative’s will and the stand-alone SNT. Would you mind contacting our office? Thanks again!
@@ellencookman-EstatePlanningSNT Sure. I can email the documents. The SNT is 50 pages and looks pretty standard
this is going to sound really odd probably. a stranger took it upon himself to go and set up a special needs fund for my son who is on govt benefits because he has major medical issues and he can't lose anything. i had no idea until he died and his friend told my brother. this man we have never talked to or ahything and i asked my brothers friend to ask whos in charge and its someone we don't know. this man didnt have a clue what is wrong with my son or what he gets as far as benefits.my son feels very uncomfotable with the whole thing as do i, does my son have to accept it or since i have power of atty for my son can i not accept it without it affecting him at all. i just don't feel that anyone should be able to go and do something like this.
Wow, that is strange! Your son might be able to disclaim the inheritance, but that could interfere with his public benefits. You should consult with an attorney in your state on this.
I am 49 years old and am on ssdi. My dads health is not well. I have 3 older brothers. My dad has set up my brother to be a trustee for me. I am looking at getting a large inheritance. Probably close to 350,000. My son receives Medicaid and I get my premiums paid thru Medicaid. I live in Oklahoma. What can I do to set up to protect myself from me not losing my benefits or me having to pay back what they have paid towards me and my son since being on Medicaid. Isn’t it better if my dad sets something up as opposed to me before he passes?
Hello Shana. Thank you for watching this video and posing your question. I am sorry to hear about your dad's health. I would like to hear more about your story. Please send me an email at Ellen@Cookmanlaw.com and we can see how to get you the best assistance tailored for your situation. Again, sorry to hear about your dad!
I need help with a will and special needs trust. I live in NM. Can you recommend an attny?
I don’t know anyone personally, but I checked on the Academy of Special Needs Planners attorney search page, and it looks like there is someone in Santa Fe/Albuquerque: specialneedsanswers.com/new-mexico-special-needs-planners/santa-fe
Hello, my son and I just received a settlement together. No statement on division yet. How long can the attorneys hold this before put in trust. And it sounds like its best that I set up a 3rd party for him so medical will never have access to the $?
From what you’re describing, it sounds like your son’s money would be considered his own money, so it should go into a 1st party SNT, not a 3rd party SNT. Here’s a video I did on the subject: How to Receive an Inheritance While on Public Benefits
Is it legal that my lawyer nominate himself to be my personal representative & my trust protector?
Lawyers used to nominate themselves frequently for these roles; nowadays we don’t see it very often.
I know you are covering california but, do many of these rules apply to other states?
It depends on the rule. Some of the rules are federally-based and apply to all states; other rules can be (and often are) adjusted by that specific state.
Does the ben of a 3rd party Snt have to be disabled or what if they receive more then 2200 a month. and not receive on ssi or Medicaid as trust maker thought. can it be terminated if trust doesn’t benefited the Ben of having a snt
Whether or not the SNT can be terminated really depends on the terms of the SNT itself. If the language of the trust doesn’t allow this, you might have to go to court to get an order to terminate the trust.
Can a third party special needs trust be used for food and shelter if the beneficiary is not on SSI (rather is on SDI DAC and Medicaid).
Yes, a 3rd party SNT can be used for food and shelter, as long as the trust allows those types of distributions.
Can you recommend a Napa or Sonoma or Sf area lawyer who is fund fraud. My daughter trust fund was blatantly defrauded by the bank. We need a lawyer who will work on a contingency basis please and thank you
So sorry to hear what happened. Unfortunately, I don’t have any recommendations for attorneys in that area.
You have a serious sharp whistle "ch" sounds with the maybe your mic?
Thank you for letting me know.
@@ellencookman-EstatePlanningSNT where is your practice Orange County? I may want to hire you!
@@interestingisitnot1 We serve all of California and look forward to connecting with you! Reach out to us at (650) 690-2571 or info@cookmanlaw.com.
My wife and her brother are Beneficiaries of a special needs trust. Their aunt is the Trustee. My Brother-in-law is mentally disabled. The trust reads.
(Family name) special needs Trust for (brother's name) (aunt's name) Trustee.
Aunt has not paid the property tax in about 10 years. My wife has been trying to restore the trust and remove the aunt from office. Aunt is currently trying to sell the house and take all the proceeds. We are doing all we can to correct Aunt's negligence.
I'm so sorry to hear that you all have to go through this.
I need your services
Hi Tita, you can reach out to our office at (650) 690-2571 or info@cookmanlaw.com. We look forward to hearing from you!
Hi
Do you have contact information?
Yes, contact us at info@cookmanlaw.com or (650) 690-2571