Subscriber Drafting Webinars provide continued training on various aspects of using the InterActive Legal software, usually focusing on drafting particular documents or using certain drafting options.  These webinars are free to ILS subscribers. They provide insight and training regarding specific documents and options available within the drafting systems. Subscribers will receive an email outlining the topic of each drafting webinar with instructions for registration.

Webinar Description

InterActive Legal’s monthly subscriber drafting webinars are designed to be additional training classes on using various InterActive Legal programs to draft particular documents or provisions.  These monthly presentations allow us to focus on narrow areas that we don’t typically have time to cover in our general training classes for new subscribers.  In this month’s installment, we will focus on documents that are unique to the Elder Law and Special Needs Planning practice system.  However, users of any practice system are welcome to attend for informational purposes, or to get a brief demonstration of some of the documents offered in that system.

In this presentation, we will discuss how to draft what are sometimes referred to as “Medicaid Asset Protection Trusts,” or “MAPTs.”  In InterActive Legal’s Elder Law and Special Needs Planning system, the trusts we refer to as the  “Income Only Trust” and the “Children’s Trust” are intended for Medicaid planning.   The different drafting options in each of these trusts will be explained, and we will consider why certain options might be selected in certain situations.  We will cover the income tax planning options in these trusts, including options for preserving the step-up in basis for trust assets and the capital gain exclusion for sales of personal residences (which are often transferred into trust for Medicaid planning purposes).  Finally, we will review using a Joint Income Only Trust and a Joint Children’s Trust (one trust created by both Husband and Wife, as grantors), and the issues involved.

Continuing Education Credits

InterActive Legal is not an approved Continuing Education (CE) Sponsor. However, several states and regulatory agencies for a variety of professionals that participate on our teleconferences may still receive continuing education credit for their participation. If a participant wishes to receive CE credit for their participation in these teleconferences, they must apply to receive credit on their own and through their individual states and regulatory authorities. It is the responsibility of the participant to file for CE credit and is not guaranteed by the webinar sponsors.

Speaker Bio

Teresa L. Bush Esq.

Teresa Bush joined InterActive Legal in 2007 and serves as Director of Education and Support Services. Ms. Bush has been licensed to practice law since 1991, and focused her practice exclusively on issues of estate and gift tax planning, probate, charitable planning, and estate and trust administration. She began her practice in a small law firm, planning for clients of all levels of wealth. Thereafter, she practiced for a number of years in the Tax Section of Kelly, Hart and Hallman, P.C. in Fort Worth, Texas, and as an estate and gift tax consultant for the Dallas office of Ernst & Young, in both cases focusing on planning for very high net worth clients. Ms. Bush received her J.D. from the University of Texas School of Law, where she was a research assistant for Professor Stanley M. Johanson. She studied at Edinburgh University and the London School of Economics prior to obtaining a B.A. in Economics and Political Science from Rice University in Houston. While studying abroad, she worked as an intern for a Member of Parliament in the British House of Commons. Ms. Bush taught legal research and writing as a Teaching Quizmaster in law school, and later taught estate planning extension courses for American College of Financial Services CLU candidates. She has presented several online webinars on estate planning and drafting topics, and is the author or co-author of a variety of estate planning articles.

• Teresa L. Bush Esq.

  https://interactivelegal.com/author/teresa-l-bush-esq/

  How WTP Has Been Revised to Cope with Drafting 2010
• Teresa L. Bush Esq.

  https://interactivelegal.com/author/teresa-l-bush-esq/

  Turning Off Grantor Trust Status
• Teresa L. Bush Esq.

  https://interactivelegal.com/author/teresa-l-bush-esq/

  Turning Off Grantor Trust Status