[WSBAPT] Medicare Trust

Fri Jul 30 10:52:04 PDT 2021

On the 2020 edition of the WSBA deskbook, which I want to buy (I just
realized that my office's 2-volume edition is from 2005!) - does anyone
know if a newer version is likely to be soon forthcoming, in light of the
various changes to RCW 11 set forth in SB 5132, which was from the 2021
legislative session?

Or, is there likely to be a supplement to the 2020 edition?

Wondering if I should buy now, or wait a bit.

Thanks,

Sarah

*Sarah O’Farrell McCarthy*

*(Pronouns: she / her)*Attorney | Kelly, Arndt & Walker, Attorneys at Law,
PLLP
6443 Harding Avenue | P.O. Box 290 | Clinton, WA  98236

(Located on Whidbey Island, Island County, Washington)
Phone: (360) 341-1515 | Fax: (360) 341-3272
sarah at kawlawyers.com | www.kawlawyers.com

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On Wed, Jul 28, 2021 at 9:39 AM Eric Nelsen <eric at sayrelawoffices.com>
wrote:

> You might try the Estate Planning, Probate, and Trust Administration in
> Washington (WSBA 2020), which used to be a couple separate Deskbooks on EP
> and Probate/Trust and now has been consolidated. Chapters 7 and 8 go
> through the tax planning issues. The book can be accessed by purchasing a
> subscription at Casemaker (see the “Libra Books” tab once you’ve logged
> in); it’s $200/yr for that book by itself. Also available in hardcopy or by
> subscription at LexisNexis.
>
>
> https://www.mywsba.org/PersonifyEbusiness/CLEStore/Estate-Planning-Probate-and-Trust-Administration-in-Washington-2020/ProductDetail/18081688
>
>
>
> I think it’s worth the money; I use it all the time for probate
> administration and litigation. Not so much for EP simply because I refer EP
> work to another attorney at my office, Karin Treadwell.
>
>
>
> Sincerely,
>
>
>
> Eric
>
>
>
> Eric C. Nelsen
>
> Sayre Law Offices, PLLC
>
> 1417 31st Ave South
>
> Seattle WA 98144-3909
>
> 206-625-0092
>
> eric at sayrelawoffices.com
>
>
>
> *Covid-19 Update - *All attorneys are working remotely during regular
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>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com <
> wsbapt-bounces at lists.wsbarppt.com> *On Behalf Of *michael
> westseattleattorney.com
> *Sent:* Wednesday, July 28, 2021 6:12 AM
> *To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> *Subject:* Re: [WSBAPT] Medicare Trust
>
>
>
> Thanks - The problem with her was that she has several properties with
> large capital gains And gifting them now would transfer her basis and lose
> the step up. Where can I research the strategies, like an LLC your family
> Partnership, etc.? Thanks Mike
>
> Sent from my iPhone
>
>
>
> On Jul 28, 2021, at 1:44 AM, Setareh Mahmoodi <mahmoodi.setareh at gmail.com>
> wrote:
>
> 
>
> Client retained full control over all her assets hence the name revocable.
> All assets were and are within her control and therefore, not protected or
> removed from her estate and not exempt. RLTs don't provide any asset
> protection. All assets remain available to the trustmaker even if funded to
> the trust. Often, laypeople misunderstand and/or misinterpret "trusts" as
> protection tools, it's not *always *the attorney's fault so I would be
> hesitant to believe an attorney would have said that about a RLT without
> further inquiry. (Not impossible just unlikely if the attorney is
> experienced in trust and estates).
>
>
>
> In order to protect assets or remove and reduce the size of her estate for
> Medicaid planning, she would have had to utilize more complex strategies.
> One of which is an *irrevocable *trust, which can provide asset
> protection and/or remove assets from the estate to plan for Medicaid
> purposes.
>
>
>
> Good luck!
>
>
>
> Setareh
>
>
>
>
>
> On Tue, Jul 27, 2021 at 8:44 AM Marcus Fry <mfry at lyon-law.com> wrote:
>
> Your client was told incorrectly.  Not uncommon.  Laypeople think there is
> only one type of trust and that their RLT protects from all kinds of
> creditors.  Resources held in a RLT are not exempt from being counted in
> Washington State for Medicaid.  See WAC 182-516-0115.
>
>
>
> Marcus J. Fry
>
> Lyon, Weigand & Gustafson, P.S.
>
> P.O. Box 1689
> Yakima, Washington  98907
> Telephone:  (509) 248-7220
> Facsimile:  (509) 575-1883
>
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> *From:* wsbapt-bounces at lists.wsbarppt.com [mailto:
> wsbapt-bounces at lists.wsbarppt.com] *On Behalf Of *michael
> westseattleattorney.com
> *Sent:* Tuesday, July 27, 2021 8:25 AM
> *To:* WSBA Probate & Trust Listserve
> *Subject:* Re: [WSBAPT] Medicare Trust
>
>
>
> Correction - drafter used words : " .. protects in case you or a family
> member needs to apply for state financial assistance"
>
>
>
> <image001.png>
>
>
> ------------------------------
>
> *From:* michael westseattleattorney.com <michael at westseattleattorney.com>
> *Sent:* Tuesday, July 27, 2021 8:11 AM
> *To:* WSBA Probate & Trust Listserve <wsbapt at lists.wsbarppt.com>
> *Subject:* Medicare Trust
>
>
>
> PC brought in a RLT from 2005 and said drafter told her that it protected
> her assets from Medicaid in case she went into a nursing home.  This was
> news to me. It is my understanding that the assets are considered to be in
> your estate when qualifying for meicaid. Yes, No?  Thanks
>
>
>
> <image001.png>
>
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>
>
> --
>
> *Best regards, *
>
>
>
> *Setareh Mahmoodi *
>
> *Attorney at Law *
>
> *18222 104th Ave NE, Suite 103*
>
> *Bothell, WA 98011*
>
> *Phone: 425-806-1500*
>
> *Fax: 425-489-4142 (Please email documents if at all possible)*
>
> *Email: SM at LawOfficesofSM.com <SM at LawOfficesofSM.com>*
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