Elder Law Planning
Elder Law Planning provides access to a drafting system designed for elder law and special needs planning attorneys.
Wills and Codicils
| Document | Short Description |
|---|---|
| Elder Law Will | Will with multiple drafting options, including: – State-specific language – Elective share gift to spouse – Spousal SNT – Specific bequests and continuing trusts – Supplemental needs trusts – Trusts for retirement assets – Disclaimer and Clayton QTIP options – Formula Credit Shelter Trust (federal or state) – Pour-over to Revocable Trust option – Summary |
| Codicil | Document used for minor changes to an existing Will |
Revocable Trusts
| Document | Short Description |
|---|---|
| Elder Law Revocable Trust | Single-grantor living trust with multiple drafting options, including: – State-specific language – Elective share gift to spouse – Option to pour back into testamentary spousal SNT – Specific bequests and continuing trusts – Supplemental needs trusts – Trusts for retirement assets – Disclaimer and Clayton QTIP options – Formula Credit Shelter Trust (federal or state) – Pour-over to Revocable Trust option – Summary |
| Elder Law Joint Revocable Trust | Dual-grantor living trust for spouses/partners with multiple drafting options, including: – State-specific language – Elective share gift to surviving spouse – Option to pour back into testamentary spousal SNT – Specific bequests and continuing trusts – Supplemental needs trusts – Trusts for retirement assets – Disclaimer and Clayton QTIP options – Formula Credit Shelter Trust (federal or state) – Pour-over to Revocable Trust option – Summary |
| Retirement Benefits Trust | Revocable Trust designed to receive retirement assets at death, with drafting options similar to those in the Elder Law Revocable Trust |
Irrevocable Trusts
| Document | Short Description |
|---|---|
| Elder Law Irrevocable Trust | Single-grantor irrevocable trust with multiple drafting options, including: – Crummey powers for lifetime gifting – Spousal access (SLAT) – Life insurance ownership provisions (ILIT) – Grantor trust powers (IDGT) – Continuing trusts for spouse/descendants – Contingent marital deduction trust – Supplemental needs trusts – Options for special assets – Expanded fiduciary powers – Summary |
| Elder Law Joint Irrevocable Trust | Dual-grantor irrevocable trust for spouses with multiple drafting options, including: – Crummey powers for lifetime gifting – Life insurance ownership provisions (ILIT) – Grantor trust powers (IDGT) – Continuing trusts for descendants – Options for special assets – Expanded fiduciary powers – Summary |
| Single Beneficiary Irrevocable Trust | Comprehensive single-grantor irrevocable trust for one named beneficiary |
| Non-Grantor Spousal Access Trust | Trust for the benefit of the grantor’s spouse that is a non-grantor trust for income tax purposes and is often used to maximize state and local tax deductions. A grantor-trust version of a spousal access trust falls under the Wealth Transfer Irrevocable Trust, above. |
| Minor’s 2503(c) Trust | Annual-exclusion gift trust for minors with mandatory distribution at 21 and option to extend. |
Trusts for Medicaid, Veteran’s Benefits, and Special Needs Planning
| Document | Short Description |
|---|---|
| Third Party Irrevocable SNT | Irrevocable third party SNT created for one named beneficiary designed to preserve the beneficiary’s eligibility for government benefits. |
| Third Party Revocable SNT | Revocable third party SNT For one named beneficiary designed to preserve the beneficiary’s eligibility for government benefits. |
| First Party Self-Settled SNT (d(4)(A) Trust) | Beneficiary-funded SNT under 42 U.S.C. §1396p(d)(4)(A) with Medicaid payback clause. |
| Qualified Income (“Miller”) Trust (d(4)(B) Trust) | Trust for diverting excess income to achieve Medicaid eligibility for the trust’s creator in income-cap states. |
| Sole-Benefit Trust | Trust created for the sole benefit of one disabled person so that both the trust creator and beneficiary can qualify for government benefits with no penalty period. |
| Children’s Trust | Single-grantor irrevocable trust designed for pre-need Medicaid or VA benefits planning. |
| Joint Children’s Trust | Dual-grantor irrevocable trust for spouses, designed for pre-need Medicaid or VA benefits planning. |
| Income Only Trust | Single-grantor irrevocable trust where the grantor retains the right to income from the trust assets; designed for pre-need Medicaid planning. |
| Joint Income Only Trust | Dual-grantor irrevocable trust for spouses where the grantors retain the right to income from the trust assets; designed for pre-need Medicaid planning. |
Ancillary Documents
Financial and Health Care Document
| Document | Short Description |
|---|---|
| General Durable Power of Attorney | State-specific document in which client appoints an agent to handle financial matters, including expanded power (“hot power”) options |
| Health Care Power of Attorney/Advance Directive | State-specific document in which client appoints a health-care agent and states medical treatment wishes. |
| HIPAA Authorization | Permits release of protected health information to named persons. |
| Living Will | State-specific directive expressing end-of-life treatment preferences. Available in specific states; combined into the Health Care Power of Attorney/Advance Directive in others. |
| Guardian Designation Forms | State-specific designation of preferred guardians for minor children or for the client in the event of future need. Guardians for minor children can also be named in Wills and Revocable Trusts. |
| Remains Agent Forms | State-specific document in which client appoints agent to control final disposition of bodily remains. Available in specific states. |
| Anatomical Gift Forms | State-specific document authorizing donation of organs or body for transplant or research. Available in Florida currently; in other states this topic is covered in the Health Care Power of Attorney |
| Retirement Benefit Forms | Automated beneficiary designation forms, clauses, and letters based on the sample forms and provisions included in Appendix B of Natalie Choate’s Life and Death Planning for Retirement Benefits |
Trust Administrative Documents
| Document | Short Description |
|---|---|
| Trust Certificate | A certificate confirming the existing of a trust, identity of the trustees, and trustee powers. |
| Trust Amendment | A document that modifies specific provisions of an existing revocable trust. |
| Trustee Memorandum for Decanting | A document memorializing the details of a “decanting” of an existing irrevocable trust. |
| Promissory Note | A document that is a formal evidence of a loan between related parties, including a trust. |
Marital Agreements
| Document | Short Description |
|---|---|
| Partition Agreement | Agreement that divides community property into separate property. |
| Separate Property Agreement | Agreement confirming that assets transferred by one spouse in trust were separate property. |
| Spousal Agreement and Consent | Consent by one spouse to a transfer of assets by the other in trust and waiving rights to reimbursement. |
| California Aggregate Theory Agreement | Agreement that allows non-pro-rata division of community property under California law. |
Family Agreements
| Document | Short Description |
|---|---|
| Care Agreement | Contract defining services and compensation for a family caregiver, with related supporting documents. |
| Family Agreement | Agreement among relatives about use of assets transferred to younger generations outside of any trust. |
| Multiple Support Agreement | Agreement among family members regarding support of elderly relatives and claiming dependent care income tax exemption. |
| Non-Negotiable Promissory Note | Family loan note that is non-transferable to third parties, intended for use in a part gift and part sale Medicaid planning strategy to minimize the penalty period. |
| Occupancy Agreement | An agreement between a trust and its creator allowing the creator to occupy a residence owned by the trust. |
| Reverse Mortgage | Customized reverse mortgage agreement with required disclosures. |
| Private Annuity Agreement | An agreement for a private annuity arrangement between related parties, including a trust. |
Client Communications, Information and Memos
| Document | Short Description |
|---|---|
| Consultation Letter | Letter sent in advance of the initial meeting with the client. |
| Retainer/Engagement Letter | Letter that sets the scope, fees, and responsibilities of legal representation. |
| Summary Cover Letter | Letter used to forward document summaries and information to the client. |
| Letter re: Initial Consultation | Welcome letter outlining agenda and requested information for first meeting |
| Letter Requesting Annuity | Letter requesting to insurer for annuity quote or contract issuance |
| Statement of Intent to Return Home | Letter of declaration for Medicaid home-exclusion rules |
| Disengagement Letter | Letter serving formal notice terminating attorney-client relationship |
| Memo to File re: Competence | Internal memo documenting assessment of client capacity |
| Memo to File re: Undue Influence | Internal memo recording investigation of undue-influence concerns |
| Checklist for Scheduling Appointment | Internal checklist to gather data before setting an initial client meeting |
| Client Summary | Summary of all parties related to a particular client. |
| Client Questionnaire | A written questionnaire / intake form used to collect client, family, and asset information for planning. |
| Signing Appointment Checklist | Step-by-step check list to prepare for a document execution ceremony |
| Checklist for Closing File | Internal check list for finalizing, storing, and billing on matter completion |
| Client Satisfaction Survey | Post-engagement survey measuring quality of service |
Business Planning Documents
| Document | Short Description |
|---|---|
| Family Limited Partnership Agreement | Partnership agreement regarding transfer of ownership interests, entity governance, and other issues. |
| Buy-Sell Agreement | Agreement between shareholders of a corporation regarding transfer of ownership interests. |
| Limited Liability Company Agreement | LLC operating agreement regarding transfer of ownership interests, entity governance, and other issues. |
| Amendment to Family Limited Partnership or LLC | Instrument updating provisions of an existing partnership or LLC agreement. |
| Assignment of Partnership Interest | Document transferring an interest in a partnership to an individual or a trust. |
| Assignment of LLC Interest | Document transferring an interest in an LLC to an individual or a trust. |
Benefits
Elder Law Planning enables you to:
- Draft documents using a variety of options tailored for use by elder law and special needs planning attorneys.
- Assists at every stage of the planning process to deliver a high quality estate, and asset protection, plan.
- Spend less time drafting and more time with clients.
Want to learn more?
Check out our comparison chart.
