BarbriSFCourseDetails
  1. keyboard_arrow_leftBack

Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Family Law

Date & Time
  • event Date

    Tuesday, August 17, 2021

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$197.00
CLE
ALL

This CLE course will guide elder law attorneys on navigating trust distribution standards and challenges in elder planning and administration. The panel will discuss current distribution standards, including discretionary, HEMS, mandatory, and contingent trust distributions, and key considerations and drafting provisions for counsel. The panel will also discuss challenges for beneficiaries, choice of trustee, and key administration issues.

Faculty

Valerie Peterson
Chief Executive Officer
Miscellaneous

Before joining ElderCounsel, Ms. Peterson focused her practice in the areas of elder law and estate planning. She is a frequent speaker both locally and nationwide on topics pertaining to elder law, special needs planning and veterans aid and attendance benefits.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio
Karen Dunivan Konvicka
Partner
Thompson McMullan, PC

Ms. Dunivan Konvicka serves as Director of Client Services and General Counsel for Commonwealth Community Trust (CCT). When in private practice, Ms. Konvicka specialized in public benefits law and estate and trust planning and administration for individuals with special needs. Ms. Konvicka maintains her memberships in the Virginia State Bar, National Academy of Elder Law Attorneys (NAELA), and the Virginia Academy of Elder Law Attorneys (VAELA) and enjoys continuing to educate attorneys and families about special needs planning from the pooled trust perspective.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio

Description

The use of trusts is an integral part of elder law planning. To handle these trusts properly for clients, counsel must know when trusts are appropriate, understand and define trust distribution standards, and how to draft first- and third-party trusts to protect public benefits and administer the trusts.

If drafted correctly, trust distribution standards may restrict access to trust income and assets. However, a discretionary standard within a trust doesn't necessarily mean that the trust is a protected discretionary trust, and courts can reach different conclusions when interpreting trust provisions. For support trusts, the level of protection needed for Medicaid purposes is nonexistent.

In addition to navigating issues presented by distribution standards, counsel must also understand tax consequences and the impact on a client's public benefits when utilizing trusts.

Listen as our panel of elder law practitioners discusses critical points regarding distribution standards, key considerations and drafting provisions for counsel, and the challenges for beneficiaries, choice of trustee, and key administration issues.

Outline

  1. Trust distributions standards
    1. Discretionary
    2. HEMS
    3. Unitrust
    4. SNTs
  2. Support vs. discretionary trusts and pitfalls to avoid
  3. Beneficiaries and administration challenges
  4. Best practices and drafting considerations for elder law counsel

Benefits

The panel will review these and other key issues:

  • What trust distribution standards are available and what are key challenges for elder law planning and administration?
  • What are the drafting considerations for support and discretionary trusts and pitfalls to avoid?
  • Managing beneficiaries and overcoming trust administrative challenges