Advanced Trust Planning

Where appropriate, we counsel clients in the following areas of more advanced trusts:

  • Irrevocable Insurance Trusts to shelter high value life insurance policies from estate tax while providing flexibility and liquidity to estates that may contain high value but highly illiquid assets such as valuable business interest or family real estate.
  • Medicaid Qualifying Trusts to preserve family assets in light of the very high cost of nursing home care, currently about $10,000 per month. This planning must be very carefully executed as the eligibility requirements for Medicaid are stringent and frequently changed.
  • Special Needs Trust or Supplemental Needs Trust to preserve the assets of an individual who may qualify for needs tested programs such as Medicaid or Social Security Income which provide valuable support. These trusts allow for payments to be made in support of the beneficiaries while preserving their qualification for valuable governmental benefits.
  • Minor’s Trusts to allow for gifts to minors, often for family business interests or other assets and in conjunction with 529 college fund planning.
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