[WSBAPT] One-Sided CPA and Step Up

[Jacob Menashe]

Hi again!

I'm curious if my post didn't get a response because  what I am thinking about-a spousal agreement that goes one way or the other depending which spouse passes away first-is so far off base. If so, doesn't anybody want to chime in about that? Also, as mentioned below, I am more than happy for someone to volunteer themselves for a consult on my query.

Thanks!

Jacob

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jacob Menashe
Sent: Friday, July 15, 2022 3:35 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] One-Sided CPA and Step Up

Hi all,

I am thinking about a Medicaid situation where Sally is the one needing care. John is the community spouse, i.e., the spouse at home not needing care. In a scenario with a community property agreement that says:


  *   Assets are community property.
  *   If Sally, the Medicaid spouse, passes away first their assets pass per the CPA to John.
  *   But if John passes away first, everything becomes his separate property right before his death and nothing passes at death per the agreement. (Instead, his estate will flow throw his will and, as is desired, end up in the special needs trust for Sally).

Does anybody have a comment or experience to share about whether this is likely to accomplish both objectives-i.e., the community property step-up if Sally passes away first and the full funding of the special needs trust for Sally if John passes away first?

If someone has a lead on a response but it doesn't translate well to a list serve response, I would be very happy to make this a paid consult to discuss my query. If someone is up for that, please feel free to respond to me, and my associate Mercedes Vargas (mercedes at hickmanmenashe.com<mailto:mercedes at hickmanmenashe.com>) directly.

Thanks!

Jacob

Jacob H. Menashe
Hickman Menashe, PS
4211 Alderwood Mall Blvd., Suite 204
Lynnwood, WA 98036
(425) 744-5658 phone
(425) 744-6078 fax
Satellite Office in Bellevue
www.hickmanmenashe.com

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