EVENT CALENDAR

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.