Irrevocable Trusts After Geyen

Event Description

 Effective July 1, 2005, the State of Minnesota passed a Statute which stated that all irrevocable trusts will be deemed revocable when a person applies for Medical Assistance (originally codified as Minn. Stat. § 501B.895 and recodified as § 501C.1206 with the adoption of the Uniform Trust Code in 2016).  This effectively eliminated the ability, in the State of Minnesota, to use irrevocable trusts to shelter assets from being counted in a Medical Assistance eligibility determination, even if such trust was created and funded prior to the look-back period for uncompensated transfers. 

On July 12, 2022, the Minnesota Court of Appeals, in a precedential opinion that was not appealed further, held that this statute was “preempted” by federal law and therefore unenforceable. Since this opinion was issued, the Minnesota Department of Human Services has issued a bulletin providing some guidance for how Medical Assistance will treat irrevocable trusts going forward and a bill was signed by Governor Walz on June 2, 2022, which repealed Minn. Stat. § 501C.1206 in its entirety effective June 3, 2022.  In this CLE, information will be presented concerning the use of Irrevocable Trusts to shelter assets from being counted in determining Medical Assistance eligibility after the foregoing events; the risks and benefits of particular trust provisions commonly used in Irrevocable Trusts, including potential estate recovery issues; and the potential for future litigation given some of the positions taken by the Minnesota Department of Human Services. 

Presenter:

Michael Teeter, Lead Attorney, Asset Protection and Medical Assistance; Safe Harbor Estate Law

CLE Credits:

1.0 Standard CLE Credit | Event Code: 470029

Cost:

Elder Law Section Member: FREE
Member, not in the Elder Law Section: $15
Non-Member: $45
Law Student & New Admittee: FREE

Registration Deadline:  August 30, 2022. To register after that time, email the program manager.

Remote Participation: Remote instructions will be emailed to you the day prior to the event.

Payments/Cancellations:  Please register online or over the phone by credit card whenever possible. If you must pay by check, please use this registration form . Need to cancel? Please see our cancellation policy .

Covid-19:  We are currently following CDC guidelines for Covid-19. For more information, please visit our website .

Accommodations: We are committed to creating an inclusive environment in which all members can participate fully. If you need reasonable accommodations to participate in this event, please notify the program manager with at least 72 hours notice prior to the meeting to allow sufficient time to make arrangements for accommodations. Thank you.

Program Manager: Tram Nguyen | tnguyen@mnbars.org | 612-278-6316

 

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Register

DATE
Thursday, September 1, 2022
TIME

12:00 PM to 1:00 PM

VENUE
Zoom / Live Webinar