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<p class="MsoNormal">Hi again! <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">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.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thanks!<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Jacob<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Jacob Menashe<br>
<b>Sent:</b> Friday, July 15, 2022 3:35 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] One-Sided CPA and Step Up<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Hi all, <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">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:
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoListParagraph" style="margin-left:2.25pt;mso-list:l0 level1 lfo3">Assets are community property.
<o:p></o:p></li><li class="MsoListParagraph" style="margin-left:2.25pt;mso-list:l0 level1 lfo3">If Sally, the Medicaid spouse, passes away first their assets pass per the CPA to John.
<o:p></o:p></li><li class="MsoListParagraph" style="margin-left:2.25pt;mso-list:l0 level1 lfo3">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). <o:p>
</o:p></li></ul>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">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? <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">If someone has a lead on a response but it doesn’t translate well to a list serve response, I
<u>would be very happy to make this a paid consult to discuss my query</u>. If someone is up for that, please feel free to respond to me, and my associate Mercedes Vargas (<a href="mailto:mercedes@hickmanmenashe.com">mercedes@hickmanmenashe.com</a>) directly.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thanks!<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Jacob<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Jacob H. Menashe<o:p></o:p></p>
<p class="MsoNormal">Hickman Menashe, PS<o:p></o:p></p>
<p class="MsoNormal">4211 Alderwood Mall Blvd., Suite 204<o:p></o:p></p>
<p class="MsoNormal">Lynnwood, WA 98036<o:p></o:p></p>
<p class="MsoNormal">(425) 744-5658 phone<o:p></o:p></p>
<p class="MsoNormal">(425) 744-6078 fax<o:p></o:p></p>
<p class="MsoNormal">Satellite Office in Bellevue<o:p></o:p></p>
<p class="MsoNormal"><a href="www.hickmanmenashe.com"><span style="color:windowtext">www.hickmanmenashe.com</span></a><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt">CONFIDENTIALITY:</span></b><span style="font-size:10.0pt"> The contents of this message and any attachment(s) may contain confidential or privileged information. Any disclosure, copying, distribution, or
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notify us immediately by replying to this message or telephoning us at (425) 744-5658.</span>
<o:p></o:p></p>
<p class="MsoNormal">[External] <o:p></o:p></p>
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