Losing these much-needed government benefits could be catastrophic for an individual with disabilities. Although a personal injury settlement could provide funds that will help pay for medical care, it is likely that these funds, by themselves, will not be enough to cover these costs for the person’s entire life. The most significant potential loss involves Medicaid benefits, as many persons with disabilities are not eligible to receive private health insurance. In addition, many prescription drugs are costly without insurance and simply paying for these drugs could be enough to deplete an individual’s settlement.

A Special Needs Trust will allow the beneficiary to receive needs-based government benefits, such as SSI and Medicaid, as well as have a fund set aside to pay for services or goods that are not covered by these government benefits. These funds can be used to purchase a number of different items and services, including transportation, travel, legal services, nursing care, therapies, and educational opportunities. Establishing a Special Needs Trust will offer the beneficiary increased quality of life and much-needed security.

Creating a Special Needs Trust requires careful attention to a number of different variables. Personal injury attorneys should consult with a special needs planning attorney to determine if establishing a Special Needs Trust is the best course of action for their clients with disabilities.

Community Living Centers offer veterans both short-term (less than 90 days) and long-term (more than 91 days) stays. To be eligible for short-term stay in a CLC, a veteran must be enrolled in VA health care. During a short-term stay, veterans receive a variety of services including: respite care, rehabilitation, hospice, skilled nursing, and maintenance care for those waiting for placement in the community. Long-term stays are available to enrolled veterans who need care for the term of their lives or for an extended amount of time due to a service-related disability.

State veterans homes are owned and operated by the states. States must petition the VA to receive a portion of the construction costs and to be recognized as a state home. Once a home has been recognized, the VA pays a portion of the per diem cost as long as the home continues to meet VA standards. States are entitled to establish their own eligibility requirements, as well as to determine which services will be offered for short- and long-term care. Some homes may offer specialized services to veterans.

Veterans can also receive nursing home care from some community nursing homes that have established contracts with the VA. These partnerships allow veterans to receive long-term nursing home care in their own communities so that they can stay near their loved ones.

Placement in any of these programs requires that a potential resident be medically stable, have sufficient functional defects to make inpatient nursing home care necessary, and receive an assessment by a medical provider that states institutional nursing home care is necessary. In addition to this, each potential resident must meet the requirements of the facility to which he or she is applying. An elder law attorney can assist in the process of choosing the appropriate institution.

World War II: December 7, 1941 through December 31, 1946

Korean War: June 27, 1950 through January 31, 1955

Vietnam War: August 5, 1964 (February 28, 1961, for veterans who served “in country” before August 5, 1964), through May 7, 1975

Gulf War: August 2, 1990, through a date to be set by law of Presidential Proclamation.

In order to meet the financial requirements of this benefit, the VA must determine that a veteran’s or surviving spouse’s net worth is not enough to provide adequate support for a lifetime. One’s primary residence and vehicles are not used to determine net worth. Also, a veteran’s countable income must be less than the available pension amount. Countable income is determined by deducting a veteran’s or surviving spouse’s income after deducting all unreimbursed, recurring health care expenses. These expenses can include assisted living costs, ongoing pharmacy costs, insurance premiums, and more.

Importantly, to receive this benefit and the others associated with the IPP, a veteran does not need to have a service-related injury, does not need to have retired from the military, and does not need to have been involved in combat.

Although the Basic Pension benefit offers the lowest amount of benefits in the IPP plan, all benefits provided under this program are tax-free. Eligible applicants should contact an attorney who is experienced in elder law and estate planning.

Adult children often take on the care of a parent without question, and without consideration for the consequences of spending large amounts of money, or even going into debt, to fund the care. However, dipping into savings or retirement accounts to care for parents could leave individuals without adequate assets for their own future care.

An estate planning or elder law attorney can help individuals plan for the possibility of contributing to the care of an aging parent. A good estate plan will allow for the care of loved ones while preserving enough assets for one’s own future needs.

Bernard Krooks is a New York Elder Law and New York Estate Planning lawyer with offices in White Plains, Fishkill, and New York, New York. To learn more, visit http://www.littmankrooks.com.

Wills are living documents, meaning they can be modified or amended at any time to reflect changing circumstances. However, busy schedules may prevent changes from being made in a timely manner. Naming alternate beneficiaries will prevent the need to modify a Will during already difficult times.

Naming alternates in a Will is a good practice in general. Families with young children should name guardians and successor guardians. Alternate executors may also be named should the original executor be unable to perform his or her duties. Careful planning will help ensure wishes are carried out even when unexpected events arise.

Bernard Krooks is a New York Elder Law and New York Estate Planning lawyer with offices in White Plains, Fishkill, and New York, New York. To learn more, visit http://www.littmankrooks.com.

There are differences between a Roth IRA and a traditional IRA that are worth noting. Contributions to, and withdrawals from, each type of IRA are taxed differently. Contributions to a Roth are never tax deductible, while contributions to a traditional IRA may not be tax deductible. Additionally, qualified withdrawals from a Roth IRA are not subject to income or capital gains taxes. This distinction means that Roth IRAs provide tax-sheltered investment growth, while traditional IRAs provide investment growth that is only tax-deferred.

An age limit on contributions is another distinction between traditional and Roth IRAs. There are no age limits on contributions to a Roth IRA. However, contributions can only be made to a traditional IRA until the year the investor reaches 70.5. Individuals wishing to continue making contributions to an IRA account well into retirement should consider a Roth.

There are estate planning implications in deciding which IRA is appropriate. If the goal of an estate plan is to maximize assets and disbursements to beneficiaries, a Roth IRA offers unique estate planning benefits. Because a Roth IRA does not require individuals to make distributions from the account, it could grow more than an account might under traditional IRA rules.

This change in the rules will open new options for some investors. Individual investors should consider both the costs and benefits of conversion specific to their financial situation before making a decision. Consult an estate planning professional about any questions concerning account conversion.

Bernard Krooks is a New York Elder Law and New York Estate Planning lawyer with offices in White Plains, Fishkill, and New York, New York. To learn more, visit http://www.littmankrooks.com.

It is still unclear whether the tax will be repealed in 2010. Earlier this month, the House passed a one-year extension of the tax, essentially freezing it at current levels until 2011. The House has also passed smaller extensions, from one to three months, in an attempt to give the Senate time to come up with a more permanent solution.

However, the Senate has, at this point, not passed any legislation dealing with the estate tax. Senate lawmakers recently rejected a one-month extension of the tax. Democratic leadership has promised to take up the issue in the new year and may pass an extension that applies retroactively to January 1, 2010.

This uncertainty could make estate planning somewhat more difficult for individuals with large estates, as the Senate continues to deliberate. Some estate planning professionals are advising a “wait and see” approach. But for those who need to settle affairs quickly, the decision about how to handle a large estate may be more complicated. An estate planning or elder law attorney can advise on the best way to handle this delicate situation.

Bernard Krooks is a New York Elder Law and New York Estate Planning lawyer with offices in White Plains, Fishkill, and New York, New York. To learn more, visit http://www.littmankrooks.com.

The tax breaks are generally popular among both Democrats and Republicans and are routinely extended at the end of each year. However, this year legislators have reached an impasse over the proposed method for paying for the cuts. According to the House bill, the tax breaks would be funded with a tax increase on investment fund managers and a crackdown on the use of overseas tax havens.

The measure passed the house with a vote of 241-181, but it has not yet made it out of committee in the Senate. The package could be passed and applied retroactively, making tax planning and estate planning somewhat trickier in the following months. An estate planning or tax planning attorney can advise on the best financial strategies whatever measures may ultimately pass.

Bernard Krooks is a New York Elder Law and New York Estate Planning lawyer with offices in White Plains, Fishkill, and New York, New York. To learn more, visit http://www.littmankrooks.com.

Some children with special needs may wish to continue their education beyond high school. It is important for these students and their parents to understand what rights they have at a post-secondary institution, and to know how those rights differ from the rights they had in high school. Post-secondary institutions may not discriminate against students with disabilities, but they are not required to identify the special needs of their students as public schools are.

Students who believe they may need a college to make special arrangements for their needs, should request an academic adjustment. Academic adjustments might include priority registration, a reduced course load, providing note takers or sign language interpreters, extended time for testing, and equipping school computers with screen-reading. It is the responsibility of the student to request such an adjustment. As parents, it is important to know what your child is entitled to and when the right time to make a request may be. A special needs planning attorney can serve as an advocate for students pursuing continuing education.

For more information, please visit http://www.littmankrooks.com.

Some examples of powers that a trust protector may be given include: removing or replacing a trustee, handling disputes between trustees and/or beneficiaries, amending the trust, adding beneficiaries, changing disbursements according to changes in beneficiaries’ circumstances (such as divorce), and having the final say over investment of the trust’s assets. The trust document can be used both to name a trust protector and to define his or her powers.

Although anyone may serve as a trust protector, it is generally a good idea to hire an independent third party or professional, since s/he may have to make decisions that affect beneficiaries or resolve conflicts between beneficiaries should any arise. An experienced elder law and estate planning attorney can help ensure that a trust protector is given the right balance of power to oversee a long-term trust effectively.

For more information, please visit http://www.littmankrooks.com.