Chapter 5 Planning for Minors, Elderly, and Disabled Persons

Name: Chapter 5 Planning for Minors, Elderly, and Disabled Persons
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Index

Section 5.1 Estate Planning for the Minor Beneficiary
Section 5.2 Guardianship of the Minor
Section 5.3 Control of Assets for the Benefit of the Minor
Section 5.4 Conservatorship
Section 5.5 Missouri Transfers to Minors Law
Section 5.6 Protections for Minor’s Custodial Estate
Section 5.7 Manner of Designating Custodian and Transfer of Property to Custodian
Section 5.8 Duties of Custodian
Section 5.9 Use of Property and Termination of Custodianship
Section 5.10 Trusts
Section 5.11 Irrevocable Trusts for Minors
Section 5.12 2503(c) Trust
Section 5.13 Crummey Trust
Section 5.14 Special Tax Considerations for Irrevocable Trusts
Section 5.15 Education of the Minor and Young Adult
Section 5.16 Annual Gift Tax Exclusion
Section 5.17 Section 2503 Exception
Section 5.18 College Savings Plans
Section 5.19 Section 529 Plans
Section 5.20 Coverdell Educational Savings Plan
Section 5.21 Estate Planning for Elderly and Disabled Persons
Section 5.22 General Considerations
Section 5.23 Distinctions From Traditional Estate Planning
Section 5.24 Understanding Estate Planning Goals
Section 5.25 Durable Powers of Attorney
Section 5.26 Long-Term Care Costs
Section 5.27 Long-Term Care Insurance
Section 5.28 Asset Disregard Under Missouri Partnership for Long-Term Care Program
Section 5.29 Needs-Based Benefits
Section 5.30 Benefits Program Basics
Section 5.31 Insurance-Based Benefit Programs
Section 5.32 Needs-Based Benefit Programs
Section 5.33 Supplemental Security Income
Section 5.34 Nonfinancial Requirements
Section 5.35 Financial Need Requirements
Section 5.36 Income Requirements
Section 5.37 Resource Requirements
Section 5.38 Transfer Rules Apply
Section 5.39 Needs-Based Veterans’ Benefits
Section 5.40 Veterans’ Homes
Section 5.41 Aid and Attendance Pension
Section 5.42 Nonfinancial Requirements
Section 5.43 Financial Need Requirements
Section 5.44 Income
Section 5.45 Assets
Section 5.46 No Transfer Penalty
Section 5.47 MO HealthNet Benefits
Section 5.48 Nonfinancial Requirements
Section 5.49 Financial Need Requirements
Section 5.50 Income
Section 5.51 Assets
Section 5.52 Exempt Assets
Section 5.53 Assets Held in Trust
Section 5.54 Revocable Trust of Individual
Section 5.55 Irrevocable Trust of Individual
Section 5.56 Trust Established and Funded by Third Party
Section 5.57 Special Rules for Married Applicants With a Community Spouse
Section 5.58 Income
Section 5.59 Assets
Section 5.60 Transfers of Assets and Vendor MO HealthNet
Section 5.61 Exceptions
Section 5.62 Transfer of Home Permissible in Certain Situations
Section 5.63 Ineligibility Penalty
Section 5.64 Estate Recovery and Medicaid Liens
Section 5.65 Planning Options for the Elderly or Disabled Client
Section 5.66 Expediting or Maintaining Eligibility for Needs-Based Benefits
Section 5.67 Permissible Transfers vs. Impermissible Transfers
Section 5.68 Permissible Transfers of the Applicant’s Home
Section 5.69 Self-Settled Trusts
Section 5.70 (d)(4)(a) Trusts
Section 5.71 Pooled Trust/Midwest Special Needs Trust
Section 5.72 Sole Benefit Trust for Disabled Child, Child Under 21 Years of Age, or Disabled Individual Under 65 Years of Age
Section 5.73 Third-Party Planning Options for a Disabled Beneficiary
Section 5.74 Establishment of a Third-Party Special Needs Trust
Section 5.75 Anatomy
Section 5.76 Creation
Section 5.77 Choice of Trustee
Section 5.78 Administration Issues
Section 5.79 Third-Party Trusts Administered Through the Midwest Special Needs Trust/Pooled Trusts
Section 5.80 Sole Benefit Trusts
Section 5.81 Special Needs Trust for a Spouse Created Through a Will