The Medicaid Asset Protection Trust: From Initial Consult to Funding – Jan 2023 Recording

The EC Medicaid Asset Protection Trust® (MAPT) is the keystone to many ElderCounsel members’ proactive planning practices. During this two-day recorded event, we will cover the full life of MAPT planning from how to talk to clients about proactive planning, trust considerations and design, to trust funding.

Some of the specific topics covered during this course will be:

• Applicable Medicaid Law
• Basic Trust Design Considerations
• Beneficiaries
• Advanced Trust Design Considerations
• Trust Protectors
• Special Assets and How to Read the Paperwork
• Taxation
• Medicaid Application Considerations
• Funding

We will leverage Mark Munson’s in-depth knowledge of all things MAPT and Jill Roamer’s ElderDocx® drafting insights to provide a practical overview of this important asset preservation planning tool. ElderCounsel members will have the opportunity to draft a MAPT during this interactive program.

You will walk away from this course with a deep understanding of a MAPT’s technical aspects, how to draft it accordingly in ElderDocx, which assets are right to be funded into the trust, and how to fund the MAPT.

Presenters: Mark D. Munson, J.D., CELA, Jill Roamer, J.D., CIPP/US, and Jim Wolverton, J.D.

AGENDA

Applicable Medicaid Law and Basic Trust Design Considerations
During this session, we will introduce why the MAPT is the tool used in Medicaid proactive planning and the legal authority which makes it so valuable. We will then transition into basic trust design considerations to help you establish the foundations of an effective trust for your clients.

Lifetime and Remainder Beneficiaries
This hour of the program will be spent discussing the valuable role the lifetime beneficiaries play in the execution of the MAPT. We will also discuss income rights and who is the proper income beneficiaries. Remainder beneficiary distribution options will also be considered and what to look out for when setting up what happens at the end of the trustmaker’s life.

Advanced Trust Design Considerations and Trust Protectors
During this session, we will dive into the Uniform Trust Code, Uniform Principal and Income Act, Uniform Prudent Investor Act and discuss the important role Trust Protectors play to ensure the trustmaker’s intent is realized.

MAPT Taxation
During this session, we will cover the potpourri of taxation issues to consider when drafting a MAPT including grantor trust status, income taxation, stepped up basis, gift taxation, estate taxation and generation skipping transfer tax.

Special Assets and How to Read the Paperwork
During this session, we will discuss the types of assets clients own that require special attention like stocks, non-qualified annuities, life insurance and others. We will also review the paperwork involved with the ownership of these assets and what to look for when reviewing your clients’ documents.

Funding the MAPT
During this session, we will discuss how to make sure the MAPT is funded to correctly to ensure the planning you worked on is successfully implemented and the client’s assets are protected according to their plans.

MAPT Case Studies
During this session, we will use case studies to implement the knowledge gained during the course to review fact patterns and client ownership documents to gain hands-on experience with reviewing a file and client documents prior to funding.

Proactive Medicaid Planning and the Initial Consultation
This session will explore how to broaden basic estate planning conversations to include long-term care concerns. We will also discuss how to describe the MAPT so that clients understand the value of this planning without overwhelming them with legal technical information. We will also walk through how to draft the MAPL in ElderDocx.

Your State’s Medicaid Manual and Medicaid Application
During this session, we will break into breakout groups to review your state’s Medicaid manual section regarding irrevocable trusts. Additionally, we will have you review your state’s Medicaid application to better understand asset disclosure requirements. We will then regather as a group to take any questions and discuss the language of the manuals and the applications.

MAPT Drafting in ElderDocx
During this session, ElderCounsel’s Law and Privacy Specialist, Jill Roamer, will walk attendees through the MAPT interview in ElderDocx ® to demonstrate how you can leverage the software to efficiently implement the lessons learned during the course in preparing your MAPT documents.

MAPT Drafting Session
During this session, you will log into ElderDocx and draft a MAPT following a pre-filled drafting worksheet. Please have your login ready and be prepared to roll up your sleeves to put together one of these trusts. ElderCounsel staff will be “on hand” to make sure if you get stuck we can help assist you so you’re comfortable in the drafting software.