On December 13, 2016, President Obama signed into law the Special Needs Trust Fairness Act as part of the 21st Century Cures Act. The new act allows first party special needs trusts to be established by mentally competent individuals with disabilities for their own benefit.
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Protective Arrangements: Guardianships and Conservatorships
It is an issue that most of us will be confronted with at some point in the future; how best to care for an aging loved one. People commonly think a Power of Attorney is the only method by which to manage another person’s affairs who may no longer be competent to do. There are other forms of protective arrangements, however, under New Jersey Law which provides a person who is to serve in a fiduciary role with substantial latitude to provide care for their loved one. These arrangements differ in nature as to the scope of the supervisory role.
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Appellate Court Strikes Down Two State Regulations Relating To Annuities For Medicaid Planning
Estate of F.K. V. Division of Medical Assistance and Health Services – On January 4, 2005, the appellate court ruled that a state regulation capping the amount of funds that a Medicaid applicant may use to purchase a commercial annuity contravenes federal law.
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Testamentary Trusts
Estate of Michael DeMartino v. State of New Jersey, Division of Medical Assistance and Health Services – New Jersey Appellate Division concluded that the State could assert a lien against a testamentary trust.
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Care for the Incompetent
The New Jersey Supreme Court decided that it is lawful to institute a Medicaid spend-down on behalf of an incompetent individual when certain criteria are met.
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