/2011/02/23/fraudulent-transfers-and-irrevocable-living-trusts/ Counsel for both Businesses and Individuals throughout Oregon and Washington Sun, 04 Nov 2012 00:47:00 +0000 hourly 1 http://wordpress.org/?v=3.4.2 /2011/02/23/fraudulent-transfers-and-irrevocable-living-trusts/#comment-6828 Kevin Tillson Fri, 22 Jun 2012 15:33:55 +0000 http://huntpc.wordpress.com/?p=69#comment-6828 I don't deal with VA benefits so I can't answer this specific question. However,I have prepared special needs trusts that hold an individual's assets so that that individual can qualify for various needs based benefits, such as Medicaid. Its not unlawful, and actually is authorized by Medicaid statutes and regulations. Of course, there are a number of restrictions placed on the use of assets placed in the trust and legal counsel is necessary to establish and properly administer these types of trusts. I don’t deal with VA benefits so I can’t answer this specific question. However,I have prepared special needs trusts that hold an individual’s assets so that that individual can qualify for various needs based benefits, such as Medicaid. Its not unlawful, and actually is authorized by Medicaid statutes and regulations. Of course, there are a number of restrictions placed on the use of assets placed in the trust and legal counsel is necessary to establish and properly administer these types of trusts.

]]> /2011/02/23/fraudulent-transfers-and-irrevocable-living-trusts/#comment-6827 Kevin Tillson Fri, 22 Jun 2012 15:27:26 +0000 http://huntpc.wordpress.com/?p=69#comment-6827 I think what you are referring to is what's refer to as "spending down". Its a way to reduce your overall estate to qualify for government benefits. That's not fraud but there are restrictions on what you can purchase or use your money for while spending down. If you improperly spend down, then there may be a period of time that you will not qualify for any benefits that are financial needs based. Attorneys that do work in this area can help explain the spend down methods to you. They vary from state to state and also from agency to agency. Thanks for the comment. I think what you are referring to is what’s refer to as “spending down”. Its a way to reduce your overall estate to qualify for government benefits. That’s not fraud but there are restrictions on what you can purchase or use your money for while spending down. If you improperly spend down, then there may be a period of time that you will not qualify for any benefits that are financial needs based. Attorneys that do work in this area can help explain the spend down methods to you. They vary from state to state and also from agency to agency. Thanks for the comment.

]]> /2011/02/23/fraudulent-transfers-and-irrevocable-living-trusts/#comment-6826 Merton A. Bobo Wed, 20 Jun 2012 21:08:28 +0000 http://huntpc.wordpress.com/?p=69#comment-6826 It seems to me that an attorney who prepares an irrevocable trust for a client and having him fund it with assets sufficient to reduce his estate value below $80,000.00 is unlawful, if the purpose is for the client to be able to qualify for V.A. benefits that provide monthly payments for living in an assisted living facility. Am I wrong and why? It seems to me that an attorney who prepares an irrevocable trust for a client and having him fund it with assets sufficient to reduce his estate value below $80,000.00 is unlawful, if the purpose is for the client to be able to qualify for V.A. benefits that provide monthly payments for living in an assisted living facility. Am I wrong and why?

]]> /2011/02/23/fraudulent-transfers-and-irrevocable-living-trusts/#comment-6825 Merton A. Bobo Wed, 20 Jun 2012 20:58:18 +0000 http://huntpc.wordpress.com/?p=69#comment-6825 Having an irrevocable living trust prepared for the purpose of reducing one's estate below $80,000.oo is a recommendation from an attorney in order that his client can qualify for a monthly V.A benefit in an assisted care facility. This appears to me to be fraud. Am I right or are there exceptions? Having an irrevocable living trust prepared for the purpose of reducing one’s estate below $80,000.oo is a recommendation from an attorney in order that his client can qualify for a monthly V.A benefit in an assisted care facility. This appears to me to be fraud. Am I right or are there exceptions?

]]> /2011/02/23/fraudulent-transfers-and-irrevocable-living-trusts/#comment-3671 Bradley Buser Tue, 01 May 2012 02:46:25 +0000 http://huntpc.wordpress.com/?p=69#comment-3671 Howdy! This is my first comment here so I just wanted to give a quick shout out and say I really enjoy reading your articles. Can you recommend any other blogs/websites/forums that deal with the same subjects? Thanks! Howdy! This is my first comment here so I just wanted to give a quick shout out and say I really enjoy reading your articles. Can you recommend any other blogs/websites/forums that deal with the same subjects? Thanks!

]]> /2011/02/23/fraudulent-transfers-and-irrevocable-living-trusts/#comment-3526 Fredia Terrian Mon, 30 Apr 2012 01:25:04 +0000 http://huntpc.wordpress.com/?p=69#comment-3526 I went over this website and I think you have a lot of fantastic info, saved to fav (:. I went over this website and I think you have a lot of fantastic info, saved to fav (:.

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