[WSBAPT] [wanaela] Re: 3rd party special needs trust--intentionally defective grantor language

[Jacob Menashe]

I think the question, or potential trap, will be how Medicaid will look at it from the Medicaid applicant's perspective when the person has retained the control necessary to get estate tax inclusion. I know others and I have been wary about this but perhaps others can report they regularly have done this without a problem?

Best,

Jacob


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From: wanaela at mycommunities.naela.org <wanaela at mycommunities.naela.org> On Behalf Of Jerrica R. Pierson Seeger
Sent: Thursday, November 8, 2018 8:03 PM
To: wanaela at mycommunities.naela.org; Ronda Larson <privateemail383099 at mycommunities.naela.org>; wsbapt List serve <wsbapt at lists.wsbarppt.com>; WANAELA List serve <wanaela at mycommunities.naela.org>; Elder Law Section <elder-law-section at list.wsba.org>
Subject: [wanaela] Re: 3rd party special needs trust--intentionally defective grantor language

Give me a call in the morning and we can talk about the options?!?!

Thank you
Jerrica
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On Tue, Nov 6, 2018 at 2:40 PM, Ronda Larson
<privateemail383099 at mycommunities.naela.org<mailto:privateemail383099 at mycommunities.naela.org>> wrote:

Has anyone done Medicaid planning to transfer a Medicaid applicant's real estate (e.g., a rental house)  into a 3rd party special needs trust for a disabled child to live in the house (or rent it out), where you put language in the trust to get a step up in basis on the grantor's death (i.e., intentionally defective grantor trust language)? Do you see any traps for the unwary?


Ronda Larson Kramer
J.D., LL.M in Tax Laws, Owner
LARSON LAW, PLLC
Elder Law, Estate Planning
1700 Cooper Point Rd SW, Bldg A3
Olympia WA 98502
Ph: 360-259-3076
ronda at larsonlawpllc.com<mailto:ronda at larsonlawpllc.com>
www.larsonlawpllc.com<http://www.larsonlawpllc.com/>

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