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E-Newsletter of May 10, 2011 | Vol. 4, No. 18

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Item of Interest

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Understanding UTMA Accounts for Children with Disabilities 

When working with clients who have a child with a disability, it is important for practitioners to be aware of potential issues with UTMA accounts.   A Uniform Transfer to Minors Act (UTMA) account holds money that is gifted to a child who has not yet reached the age of majority.  The minor child “owns” the account, but the account is controlled by a custodian. 

For a child receiving SSI, the UTMA account will not be considered a resource until the account is considered available to the child under state law.  Interest or dividend income generated by the account is also not counted as income of the SSI recipient.  Any distribution of cash to the child is counted as income to the child for that month.  Likewise, when a custodial account terminates, Medical Assistance will consider assets in the UTMA account as income in the month of termination and as an asset in the following month.

BE AWARE that under Minnesota law, UTMA accounts may terminate at age 18 or age 21, depending on how the account was established.  See Minn. Stat. § 527.40. 

Practitioners should review any UTMA accounts for a child with special needs who is approaching the age of majority.  Serious eligibility issues can be avoided by transferring the UTMA account into a special needs trust before the account is available to the child under state law.

Submitted by Laura J. Zdychnec, Esq.
Lzdychnec@mnelderlaw.com

Link of the Week

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DHS Website features managed care health contracting information

All public information about managed care plans that contract with the state to provide health care for enrollees in public programs is now available at: www.dhs.state.mn.us/ManagedCareReporting.

The website, established by DHS under a March 23 executive order from Gov. Mark Dayton, includes all public data and reports related to managed-care plan contracts. More information is available in a news release about the managed care health contracting information website.

Submitted by Peter M. Hendricks, Esq.
phendricks@gblawoffice.com

 

Elder Law News

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Getting your affairs in order | Sleepy Eye News

So far, Medicare debate is muted here | Star Tribune

Hundreds of seniors rally at Capitol over threat of cuts | MPR

Elder Law Cases

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There are no Minnesota Cases to report this week.

Elder Law Statutes, Regulations, and Bulletins

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There are no statutes, regulations, or bulletins to report this week.

Upcoming Events and CLE Programs

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Live Replay: Elder Law, 2011 and Beyond
Hennepin County Bar Association
Webcast CLE
May 12, 2011
Contact or Other Information:
Online Information

Probate & Trust Law Section Conference
Minnesota CLE
June 6, 2011
Contact or Other Information:
Online Information

Dealing with Elderly Parents
Ramsey County Bar Association
June 8, 2011
Contact or Other Information:
Online Information

Elder Law Section Activities

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MA COMMITTEE MEETING: The next MA Committee meeting will be at 3:30 p.m. on Tuesday, June 28, 2011. Topics for the meeting may be submitted to MA Committee Chair, Cathryn Reher, at creher@mnelderlaw.com, or faxed to 952-542-9201. For directions, or to attend by phone, please contact Tracie Fenske with Long, Reher & Hanson, P.A. at 952-929-0622. Please be reminded that the meeting location is: Estate & Elder Law Services (formerly MAO Legal Services), Monroe Village, 1900 Central Avenue NE, Suite 106, Minneapolis, Minnesota 55418. There are a few parking spaces behind the building and lots of street parking. People should walk to the back of the building and come to the back door which faces directly into the meeting room.

GOVERNING COUNCIL: The next meeting of the Elder Law Section Governing Council will be 3:30 p.m. on Friday, April 29, 2011, at Estate & Elder Law Services (formerly MAO Legal Services), Monroe Village, 1900 Central Avenue NE, Suite 106, Minneapolis, Minnesota 55418. There are a few parking spaces behind the building and lots of street parking. People should walk to the back of the building and come to the back door which faces directly into the meeting room. For further information, please contact Jennifer Wright, Chair, at jlwright1@stthomas.edu.

ELDER LAW SECTION ANNUAL MEETING: The 2011 Annual Meeting of the Elder Law Section will be held at 3:30 p.m. on Friday, June 17, 2011, at the offices of Estate & Elder Law Services (formerly MAO Legal Services), located at Monroe Village, 1900 Central Avenue NE, Suite 106, Minneapolis. Please note the meeting date and location changes. There are a few parking spaces behind the building and lots of street parking. People should walk to the back of the building and come to the back door which faces directly into the meeting room. For further information, please contact Vicki McIntyre, Esq. at vmcintrye2@yahoo.com.

Elder Law Website

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Here’s what you can find on the Elder Law Section website: Links to the DHS Health Care Programs Manual, the DHS Bulletin on treatment of uncompensated transfers, the Minnesota Bankers Association Compliance Bulletin on Powers of Attorney, legislative summary; Practice Links to organizations such as NAELA, ABA Commission on Law and Aging, Links to Federal and State Government Agencies, Statutes, and Regulations; Meeting Notices, Listings of Officers and Council Members, Section Bylaws, and more.

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