Without question, these are difficult times for many, especially elder law attorneys and their potential clients. At a time when stock and mutual fund accounts have been slashed in half and nursing home bills are continuously creeping upward, and not having a real grasp as to what is going on, families will replace Medicaid planning with indecisiveness.
What does this mean to an elder law attorney's practice? Should they accept the fact that their caseloads will be down, as well as ...
Recently, I worked on a case involving an individual who wanted to put his $90,000.00 IRA account into a self-settled d(4)(A) (“the Trust”). Even though I could get the IRA account transferred into a tax deferred annuity (“TDA”) by way of a tax-free rollover (the individual is the owner/annuitant), and the insurance company was willing to re-title the TDA into the Trust (the trust is the owner, the individual is still the annuitant, and the trust is the primary beneficiary), th ...
