from Alabama Family Trust's Executive Director, Melanie B. Holliman Recently, I attended a large CLE (continuing legal education) course with a variety of speakers. I was surprised to hear a vendor from a for-profit trust company denigrate trusts managed by "pooled non-profit trust companies" as being inferior to their for-profit trust services. You could say the speaker "stepped on our toes" a bit, so I want to clarify the advantages of a pooled non-profit such as Alabama Family Trust. Pooled Trusts Beneficiaries of pooled special needs trusts have the advantage … [Read more...]
Special Needs Trusts and Medicaid Eligibility
Can you Explain Special Needs Trusts and Medicaid Eligibility? No Problem! Even if you have used a special needs trust and Medicaid application yourself, it's still difficult to explain it to someone else. Alabama Family Trust can handle this situation. Just break out the popcorn and join your friend to: Watch this video Of course, Alabama Family Trust strongly recommends you consult with an estate planning asset protection attorney who also has experience helping with Medicaid applications. A Special Needs Trust can protect assets so that they can be used to supplement government … [Read more...]
Taking Care of Family
Southerners often pride themselves on taking care of family. However, as family members live longer and Alzheimer’s and other forms of dementia are becoming more common, caring for an aging loved one can be challenging. Many times, family members cannot quit their jobs to care for the loved one, or they may not have the care-giving expertise to meet their loved one’s needs. When it’s time to consider skilled care, like a nursing home, the family needs to talk to an elder law attorney about asset protection and potential government benefits, such as Medicaid and SSI. Avoid "Spend Down" with a … [Read more...]
How Disabled Folks Benefit from Special Needs Trusts
Disabilities can occur at any age . . . . . . But disabilities do not have to mean the end of living a full life. However, the specifics of “a full life” for disabled people go well beyond the basic needs provided by government benefits such as Supplemental Security Income (SSI) or Medicaid. Avoid the "Spend Down" Most people think that they have to spend down practically all of their financial assets in order to qualify for these governmental benefits, but that is not the case. When financial assets are placed in a Supplemental Needs Trust, also called a Special Needs Trust, a disabled … [Read more...]
Where to Put Your Trust – Alabama Family Trust
Learn how Alabama Family Trust helped the McCune family afford quality care for their mother, the late Lena McCune. After years of research, siblings Debbie, Steve, and Bradd chose to use Alabama Family Trust's unique pooled special needs trust. “In protecting my mother’s money, she was able to continue her life affording all of the amenities she had her entire life: hair salon, manicures, a telephone, a newspaper subscription,” daughter Debbie McCune said. “She loved reading and always kept up with current events.” In addition, the family had the funds to furnish Mrs. McCune's private … [Read more...]