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Recent Special Needs Trust questions

I am the trustee for a special needs revocable trust. I'm

I am the trustee for a special needs revocable trust. I'm applying for the EIN, but do not know whether to select the QRT Code 645 selection. Please note: the trust includes a house that will be sold (capital gains?) as well as periodic distributions made to support the special needs recipient. But the first step is the EIN. Help is appreciated!JA: Estate laws vary by state. What state are you in?Customer: I am currently in Virginia; however moving to NY. The house/asset is in VAJA: What documents or supporting evidence do you have?Customer: I have the will; revocable trust (with special needs amendment) and previous trustee amendments of resignation/acceptance. Language in the trust allows for sale of the house.JA: Anything else you want the solicitor to know before I connect you?Customer: No, I think that's it!

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jb156200

Associate Attorney

Doctoral Degree

336 satisfied customers
I have a revocable living trust where most of the funds will

I have a revocable living trust where most of the funds will go as a special needs trust to my disabled son upon my death. Is that adequate or would it be better to establish a irrevocable special needs trust for him now itself?JA: Since estate law varies from place to place, can you tell me what state this is in?Customer: TexasJA: Has anything been filed or reported?Customer: My living trust has been filedJA: Anything else you want the lawyer to know before I connect you?Customer: What else the attorney wants to know, I have no idea

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,096 satisfied customers
In the state of Tennessee, if you own a home and will it to

in the state of Tennessee, if you own a home and will it to your children and they have been on the state TennCare for most of their life, can probate take the home and liquefy it to pay tenncare back?JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: TennesseeJA: Has anything been filed or reported?Customer: noJA: Anything else you want the lawyer to know before I connect you?Customer: this is a what if question. there is not a house or anything as of yet. just looking to see if tenncare can do this. I am looking at trying to put wills together and I have a special needs son I am looking out for.

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Damien Bosco

Attorney

Doctoral Degree

3,746 satisfied customers
I am trustee for my special needs trust. Am I entitled an

I am trustee for my special needs trust. Am I entitled an allowance or money compensation from the trust?? Thank you

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Damien Bosco

Attorney

Doctoral Degree

3,746 satisfied customers
What are reasonable Trustee fees or hourly compensation for

What are reasonable Trustee fees or hourly compensation for a Special Needs Trust with a situs in TX? The beneficiary resides in CA. The trust will be funded with cash and mutual funds. It will be less than $1 million. Is the Trustee reimbursed for visits from Tx to Ca to visit the beneficiary?

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RayAnswers

Lawyer

Doctoral Degree

39,004 satisfied customers
Suppose a Financial power of attorney agent was considering

Suppose a Financial power of attorney agent was considering gifting assets of a principal to a disabled child, in order to qualify the principal for Medicaid paid nursing home care.1 Are you familiar with an eligibility plan that includes such terms as "gifting" to a disabled child in order to qualify?2 Would a finalized Will, showing that a testator wanted his estate split it evenly amongst his children, prevent a financial power of attorney from gifting assets to one child?This is related to a previous thread we were speaking on a few minutes ago.

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,096 satisfied customers
I apologize in advance for the length of this question. I

I apologize in advance for the length of this question.I have SSDI Disability for Depression, as of January 2014. I live in Chicago, Illinois.My father died in April 2016. He lived in Rochester, Minnesota.The bulk of my inheritance is to be placed in a Supplemental Needs Trust, with West Bank of Rochester, Minnesota, acting as the trustee and Trust manager. The bank has agreed to accept the trust. The trust has yet to be funded. This will most likely happen in early Spring 2017.As stated in my father's will, the “purpose of the trust is to provide for said son's reasonable living expenses and other needs when benefits from publicly funded benefit programs are not sufficient to provide adequately for those needs. It is my intent to prohibit disbursements that would have the effect of replacing, reducing or substituting for publicly funded benefits otherwise available to my son or rendering my son ineligible for publicly funded benefits.” Also: “The trustee may expend sums from the principal of the trust for the benefit of my son…only for purposes which supplement benefits from publicly funded programs. Such expenditures may include but are not necessarily limited to entertainment, education, travel, comfort convenience and reasonable luxuries, as the trustee, in the trustee's sole discretion, deems advisable.”The law firm handling the establishment of the trust has informed me that once the trust is fully funded and running, then West Bank will be the sole trustee and will have full control of my trust.However, through my own research following my father's death, I have learned that SSDI benefits (the sort of disability benefits I receive) are NOT AFFECTED IN ANY WAY by an inheritance. I would NOT lose any benefits because of receiving any inheritance at all. Therefore, as I see it, the need to protect my disability benefits by placing the inheritance in a Special Needs Trust is moot and void.My understanding is that once the trust is up and running, I can always request West Bank to simply give me all of the Trust's money. Of course, they can say Yes or No.If West Bank should say No, given what I have learned about SSDI, what are my legal options as far as getting control of my own Trust?Sincerely, DWP

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,096 satisfied customers
Tx resident Sister #1 is appointed trustee for CA resident

Tx resident Sister #1 is appointed trustee for CA resident Disabled Brother #1's Special Needs Trust. Brother #1 resides in a CA group home and get's disability benefits in CA. Sister #1 made Trust address a TX PO Box, but may not have changed CA Disabled brother's residence address from CA.Will Disabled Brother #1 Special Needs Trust mail going to TX be a problem for Disabled brother's CA medicaid benefits?

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,096 satisfied customers
CA based Dad forgot about work life insurance policy. When

CA based Dad forgot about work life insurance policy. When Dad dies, his CA based disabled adult son was a named beneficiary on the policy. His son is on SSI. His son has a special needs trust set up for him administered in Tx. How can the disabled son receive the policy pay out without losing his CA benefits?

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Dwayne B.

Juris Doctor

36,880 satisfied customers
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