Mary Akkerman, Esq. guides clients through all aspects of fiduciary representation and estate planning, including dynasty trusts, domestic asset protection trusts, estate and trust administration, guardianships and conservatorships, business and tax planning, estate and gift tax planning, tax appeals, and related litigation. Mary is skilled at establishing public and private trust companies in South Dakota and regularly works with U.S. and international families and advisors on cross-border planning, non-resident alien trust formation, and international tax issues. She was elected to the American College of Trust and Estate Counsel (ACTEC), a national organization of approximately 2,600lawyers elected to membership by demonstrating the highest level of integrity, commitment to the profession, competence, and experience as trust and estate counselors.
Drafting Irrevocable Trusts to Preserve Medicaid and VA Benefits [incl. 1 Ethics hour]
Special needs trusts, supplemental needs trusts, income only trusts, and other types of irrevocable trust planning can be used to provide for a family member or beneficiary who qualifies for certain government benefits, such as Medicaid or certain Veteran’s benefits. This type of planning can also be useful used proactively in basic estate plans in the event that a client’s current or future beneficiaries may become eligible for such benefits. This seminar will discuss tax planning, preservation of benefits, types of trust available, and the mechanics of creating and administering such trusts.
This course is co-sponsored with myLawCLE.
Key topics to be discussed:
• Special Needs, Supplemental Needs Trusts, and income Only Trusts
• Tax aspects of planning devices
• Drafting, implementing and administering these types of trusts
• Ethical considerations
Date / Time: June 12, 2020
• 2:00 pm – 4:00 pm Eastern
• 1:00 pm – 3:00 pm Central
• 12:00 pm – 2:00 pm Mountain
• 11:00 am – 1:00 pm Pacific
Choose a format:
• Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
• On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 24 hours after the original recording date and are view-able for up to one year.
myLawCLE seeks accreditation for all programs in all states. (Accreditation for paralegals sought thru NALA and NFPA paralegal associations.) Each attending attorney/paralegal will receive a certificate of completion following the close of the CLE program as proof of attendance. In required states, myLawCLE records attorney/paralegals attendance, in all other states attorney/paralegal is provided with the approved CLE certificate to submit to their state bar or governing association.
- Automatic MCLE Approvals
All myLawCLE CLE programs are accredited automatically either directly or via reciprocity in the following states: AK, AR, CA, CT, FL, HI, IL, MO, MT, ND, NH, NM, NJ, NY, WV, and VT. (AZ does not approve CLE programs, but accepts our certificates for CLE credit.)
- Live Video Broadcasts
Live video broadcasts are new live CLE programs being streamed and recorded for the first time. All of these programs qualify for “Live” CLE credit in all states except NV, OH, MS, IN, UT, PA, GA, and LA —these states require in-person attendance to qualify for “Live” CLE credit.
- “Live” Re-Broadcasts
“Live” Re-broadcasts are replays of previously recorded CLE programs, set on a specific date and time and where the original presenting speakers calls in live at the end of the event to answer questions. This “live” element allows for “live” Re-broadcast CLEs to qualify for “Live” CLE credits in most states. [The following states DO NOT allow for “live” CLE credits on re-broadcast CLEs: NV, OH, MS, IN, UT, PA, GA, and LA]
Many states allow for credit to be granted on a 1:1 reciprocal basis for courses approved in another mandatory CLE jurisdiction state. This is known as a reciprocity provision and includes the following states: AK, AR, HI, CT, FL, ME, MO, MT, ND, NH, NM, VT, NJ, NY, and WV. myLawCLE does not seek direct accreditation of live webinars or teleconferences in these states.
Section I. Explanation of various government benefits
a) How to qualify and stay qualified
Section II. Available irrevocable trust planning options
a) Medicaid qualifying income only trust
b) Special needs trusts
c) Supplemental needs trust
d) Other irrevocable trusts
Section III. Drafting, structuring, and administering qualifying trusts
a) Trustee selection
b) Qualifying the trust
c) Example language
Section IV. Tax aspects
Section V. Ethics
a) Legality of Medicaid planning
b) Identifying your client
c) Confidentiality requirements
d) Attorney-client privilege
e) Clients with diminished capacity
f) Americans with Disability Act
g) Emergency legal services
h) Declining or terminating representation
i) When your client is an estate or trust
j) Conflicts of interest
k) Representing multiple parties
l) Representing a client acting in multiple capacities
m) Special rules for drafting estate planning documents