<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8">
</head>
<body dir="auto">
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<br>
<div dir="ltr">Sent from my iPhone</div>
<div dir="ltr"><br>
<blockquote type="cite">On Jul 28, 2021, at 1:44 AM, Setareh Mahmoodi <mahmoodi.setareh@gmail.com> wrote:<br>
<br>
</blockquote>
</div>
<blockquote type="cite">
<div dir="ltr">
<div dir="ltr">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
<i>always </i>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).
<div><br>
</div>
<div>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
<i>irrevocable </i>trust, which can provide asset protection and/or remove assets from the estate to plan for Medicaid purposes. </div>
<div><br>
</div>
<div>Good luck! </div>
<div><br>
</div>
<div>Setareh <br>
<div><br>
</div>
<div><br>
<div class="gmail_quote">
<div dir="ltr" class="gmail_attr">On Tue, Jul 27, 2021 at 8:44 AM Marcus Fry <<a href="mailto:mfry@lyon-law.com" target="_blank">mfry@lyon-law.com</a>> wrote:<br>
</div>
<blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex">
<div lang="EN-US">
<div>
<p class="MsoNormal"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:rgb(31,73,125)">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.<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:rgb(31,73,125)"><u></u> <u></u></span></p>
<div>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10pt;font-family:Arial,sans-serif;color:rgb(31,73,125)">Marcus J. Fry<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10pt;font-family:Arial,sans-serif;color:rgb(31,73,125)">Lyon, Weigand & Gustafson, P.S.
<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10pt;font-family:Arial,sans-serif;color:rgb(31,73,125)">P.O. Box 1689
<br>
Yakima, Washington 98907 <br>
Telephone: (509) 248-7220 <br>
Facsimile: (509) 575-1883 <u></u><u></u></span></p>
<p class="MsoNormal" style="text-align:justify"><b><u><span style="font-size:10pt;font-family:Arial,sans-serif;color:rgb(31,73,125)"><u></u><span style="text-decoration:none"> </span><u></u></span></u></b></p>
<p class="MsoNormal" style="text-align:justify"><b><u><span style="font-size:10pt;font-family:Arial,sans-serif;color:rgb(31,73,125)">NOTICES:<u></u><u></u></span></u></b></p>
<p class="MsoNormal" style="text-align:justify"><b><span style="font-size:10pt;font-family:Arial,sans-serif;color:rgb(31,73,125)">Confidentiality:
</span></b><span style="font-size:10pt;font-family:Arial,sans-serif;color:rgb(31,73,125)">This e-mail transmission may contain information which is protected by attorney-client, work product and/or other privileges. If you are not the intended recipient, you
are hereby notified that any disclosure, or taking of any action in reliance on the contents, is strictly prohibited. If you have received this transmission in error, please contact us immediately and return the e-mail to us by choosing Reply (or the corresponding
function on your e-mail system) and then deleting the e-mail.<u></u><u></u></span></p>
</div>
<p class="MsoNormal"><span style="font-size:11pt;font-family:Calibri,sans-serif;color:rgb(31,73,125)"><u></u> <u></u></span></p>
<div>
<div style="border-right:none;border-bottom:none;border-left:none;border-top:1pt solid rgb(181,196,223);padding:3pt 0in 0in">
<p class="MsoNormal"><b><span style="font-size:10pt;font-family:Tahoma,sans-serif">From:</span></b><span style="font-size:10pt;font-family:Tahoma,sans-serif">
<a href="mailto:wsbapt-bounces@lists.wsbarppt.com" target="_blank">wsbapt-bounces@lists.wsbarppt.com</a> [mailto:<a href="mailto:wsbapt-bounces@lists.wsbarppt.com" target="_blank">wsbapt-bounces@lists.wsbarppt.com</a>]
<b>On Behalf Of </b>michael <a href="http://westseattleattorney.com" target="_blank">
westseattleattorney.com</a><br>
<b>Sent:</b> Tuesday, July 27, 2021 8:25 AM<br>
<b>To:</b> WSBA Probate & Trust Listserve<br>
<b>Subject:</b> Re: [WSBAPT] Medicare Trust<u></u><u></u></span></p>
</div>
</div>
<p class="MsoNormal"><u></u> <u></u></p>
<div>
<p class="MsoNormal"><span style="font-size:11pt;color:black">Correction - drafter used words : " .. protects in case you or a family member needs to apply for state financial assistance"<u></u><u></u></span></p>
</div>
<div>
<div>
<p class="MsoNormal"><span style="font-size:11pt;color:black"><u></u> <u></u></span></p>
</div>
<div id="m_5663348126728637815gmail-m_-8474847051164511827Signature">
<div>
<div>
<p class="MsoNormal"><span style="font-family:Calibri,sans-serif;color:black"></p>
<div><image001.png></div>
<u></u><u></u></span>
<p></p>
</div>
</div>
</div>
</div>
<div>
<div>
<p class="MsoNormal"><span style="font-size:11pt;color:black"><u></u> <u></u></span></p>
</div>
<div class="MsoNormal" align="center" style="text-align:center">
<hr size="2" width="98%" align="center">
</div>
<div id="m_5663348126728637815gmail-m_-8474847051164511827divRplyFwdMsg">
<p class="MsoNormal"><b><span style="font-size:11pt;font-family:Calibri,sans-serif;color:black">From:</span></b><span style="font-size:11pt;font-family:Calibri,sans-serif;color:black"> michael
<a href="http://westseattleattorney.com" target="_blank">westseattleattorney.com</a> <<a href="mailto:michael@westseattleattorney.com" target="_blank">michael@westseattleattorney.com</a>><br>
<b>Sent:</b> Tuesday, July 27, 2021 8:11 AM<br>
<b>To:</b> WSBA Probate & Trust Listserve <<a href="mailto:wsbapt@lists.wsbarppt.com" target="_blank">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Medicare Trust </span><u></u><u></u></p>
<div>
<p class="MsoNormal"> <u></u><u></u></p>
</div>
</div>
<div>
<div>
<p class="MsoNormal"><span style="font-size:11pt;color:black">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 <u></u><u></u></span></p>
</div>
<div>
<div>
<p class="MsoNormal"><span style="font-size:11pt;color:black"><u></u> <u></u></span></p>
</div>
<div id="m_5663348126728637815gmail-m_-8474847051164511827x_Signature">
<div>
<div>
<p class="MsoNormal"><span style="font-family:Calibri,sans-serif;color:black"></p>
<div><image001.png></div>
<u></u><u></u></span>
<p></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***<br>
_______________________________________________<br>
WSBAPT mailing list<br>
<a href="mailto:WSBAPT@lists.wsbarppt.com" target="_blank">WSBAPT@lists.wsbarppt.com</a><br>
<a href="http://mailman.fsr.com/mailman/listinfo/wsbapt" rel="noreferrer" target="_blank">http://mailman.fsr.com/mailman/listinfo/wsbapt</a></blockquote>
</div>
<br clear="all">
<div><br>
</div>
-- <br>
<div dir="ltr">
<div dir="ltr">
<div>
<div dir="ltr">
<div>
<div dir="ltr">
<div>
<div dir="ltr">
<div>
<div dir="ltr">
<div>
<div dir="ltr">
<div>
<div dir="ltr">
<div>
<div dir="ltr">
<div dir="ltr">
<div dir="ltr">
<div dir="ltr">
<div dir="ltr">
<div dir="ltr">
<div dir="ltr">
<div dir="ltr">
<p style="margin:6pt 0in 0pt;font-family:arial,sans-serif;font-size:13px;background-color:rgb(255,255,255)">
<b><span style="font-size:10pt">Best regards, </span></b></p>
<p style="margin:6pt 0in 0pt;font-family:arial,sans-serif;font-size:13px;background-color:rgb(255,255,255)">
<br>
</p>
<p style="margin:6pt 0in 0pt;font-family:arial,sans-serif;font-size:13px;background-color:rgb(255,255,255)">
<b><span style="font-size:10pt">Setareh Mahmoodi </span></b></p>
<p style="margin:6pt 0in 0pt;font-family:arial,sans-serif;font-size:13px;background-color:rgb(255,255,255)">
<b><span style="font-size:10pt">Attorney at Law </span></b></p>
<p style="margin:6pt 0in 0pt;font-family:arial,sans-serif;font-size:13px;background-color:rgb(255,255,255)">
<b><span style="font-size:10pt">18222 104th Ave NE, Suite 103</span></b></p>
<p style="margin:6pt 0in 0pt;font-family:arial,sans-serif;font-size:13px;background-color:rgb(255,255,255)">
<b><span style="font-size:10pt">Bothell, WA 98011</span></b></p>
<p style="margin:6pt 0in 0pt;font-family:arial,sans-serif;font-size:13px;background-color:rgb(255,255,255)">
<b><span style="font-size:10pt">Phone: 425-806-1500</span></b><b><span style="font-size:10pt"><br>
</span></b></p>
<p style="margin:6pt 0in 0pt;font-family:arial,sans-serif;font-size:13px;background-color:rgb(255,255,255)">
<b><span style="font-size:10pt">Fax: 425-489-4142 (Please email documents if at all possible)</span></b></p>
<p style="margin:6pt 0in 0pt;font-family:arial,sans-serif;font-size:13px;background-color:rgb(255,255,255)">
<span style="font-size:10pt"><b>Email: SM@LawOfficesofSM.com</b></span></p>
<p style="margin:6pt 0in 0pt;background-color:rgb(255,255,255)"><b style="font-family:arial,sans-serif;font-size:13px"><span style="font-size:10pt">Website: </span></b><span style="font-size:13.33px"><b><a href="http://www.lawofficesofsm.com/" target="_blank">http://www.lawofficesofsm.com/</a></b></span></p>
<p style="margin:6pt 0in 0pt;font-family:arial,sans-serif;font-size:13px;background-color:rgb(255,255,255)">
<b><span style="font-size:10pt"><br>
</span></b></p>
<p style="margin:6pt 0in 0pt;background-color:rgb(255,255,255)"><b style="font-family:arial,sans-serif;font-size:13px"><span style="font-size:10pt">CONFIDENTIALITY NOTICE:</span></b><span style="font-size:10pt"> This email message and any attachments is a transmission
from the law firm and is intended for the </span><span style="font-size:13.33px">recipient</span><span style="font-size:10pt"> only. It may contain information that is confidential and legally protected by the attorney-client, work product and/or other privileges.
If you are not the designated or intended recipient, please destroy the message without disclosing any of its contents and notify us immediately by reply email or by calling (425) 806-1500.</span></p>
<p style="margin:6pt 0in 0pt;font-family:arial,sans-serif;font-size:13px;background-color:rgb(255,255,255)">
<span style="font-size:10pt">Pursuant to U.S. Treasury Department Regulations, we are now required to advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication, including attachments and enclosures, is not
intended or written to be used, and may not be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.</span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<span>***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***</span><br>
<span>_______________________________________________</span><br>
<span>WSBAPT mailing list</span><br>
<span>WSBAPT@lists.wsbarppt.com</span><br>
<span>http://mailman.fsr.com/mailman/listinfo/wsbapt</span></div>
</blockquote>
</body>
</html>