Special Needs Trusts: 2022 Update

Agenda / Content Covered

1. The SECURE Act and Its Effects on SNTs
   10:00 — 10:30, Jennifer McInerney
   1. Changes to the IRA Rules that Affect SNTs
   2. Reviewing the Trusts' Beneficiary Provisions
   3. Disability Definitions and Documentation
   4. Do "Accumulation" SNTs Need to be Amended?
2. Other Special Needs Trusts Updates
   10:30 — 11:00, Jennifer McInerney
   1. Special Needs Trust Fairness and Medicaid Improvement Act
   2. Uniform Trust Laws and the Third Restatement
   3. State Trust Laws
   4. Benefits Eligibility as it Relates to SNTs
3. ABLE Act Special Needs Savings Accounts in a Nutshell
   11:00 — 11:30, Jennifer McInerney
   1. What is an ABLE Account (529A Account)? - Coverage, Contribution Limit and Maximum Amount
   2. Who Qualifies for a 529A Account (Definition of "Disability" for Purposes of a 529A)
   3. How to Set One Up
   4. What Counts as a Qualified Expense?
   5. Penalties and Income Tax on Nonqualified Expenses
   6. Account Management Considerations
4. Special Needs Trusts (SNTs) Construction
   11:45 — 12:45, Michael Keenan
   1. First Party vs. Third Party
   2. Trustee Selection and Trust Administration
   3. What Counts as a Qualified Expense?
   4. Sample SNT Document Review
   5. What Happens if the Beneficiary Moves to a Different State
   6. Tax Implications of SNTs
5. Preserving Benefits Eligibility and Accounting for Medicaid Estate Recovery Rights
   12:45 — 1:15, Michael Keenan

Accreditation Details:

Michael J Keenan is a sole practitioner with Keenan Law, LLC, located in South Glastonbury, Connecticut. Mr. Keenan's law practice focuses on estate planning. He also practices in the areas of probate law and elder law. Mr. Keenan is the former executive managing editor of the Quinnipiac Probate Law Journal. He writes and speaks frequently for local and national audiences on his areas of practice. Mr. Keenan is a member of the National Academy of Elder Law Attorneys and the Connecticut Bar Association. Mr. Keenan currently serves as the Family & Community Engagement Officer of the Connecticut River Valley Chamber of Commerce, and he is the past chairman of the Board of Directors of the Glastonbury Chamber of Commerce. He earned his B.A. degree from Binghamton University and his J.D. degree from the Quinnipiac University School of Law.

 

Jennifer M McInerney is an attorney with Carney Dye, LLC, where her practice is focused in estate planning, primarily for families with special needs children. She is licensed to practice in Alabama and Mississippi. Ms. McInerney is the founding member and co-president of the Board of Directors of Special Siblings, which provides support for children with special needs siblings. She currently serves as the president of the Board of Directors of Susan G. Komen North-Central Alabama. Ms. McInerney is a member of the Board of Directors for the Jefferson County Intellectual and Developmental Disability Authority. She earned her B.A. degree, magna cum laude, as well as her M.A. degree, summa cum laude, from the University of Alabama at Birmingham. Ms. McInerney earned her J.D. degree from Indiana University School of Law and is currently working on her LL.M. degree in taxation from Washington University in St. Louis.