33rd Annual Advanced Elder Law Update Seminar 2024

Review the new cases, statutes, regulations … what bills passed and failed in the 2024 Virginia General Assembly in the guardianship field.

This session will provide an in-depth exploration of how Special Needs Trusts (SNTs) and Achieving a Better Life Experience (ABLE) accounts can be used together to enhance the financial well-being and quality of life of individuals with disabilities. Participants will gain a comprehensive understanding of each financial tool’s distinct features and benefits, as well as practical strategies for integrating them to maximize financial security and independence. The session will cover legal considerations, eligibility requirements, and best practices for planning and administration, empowering attendees to make informed decisions for their clients or loved ones.

Elder Law Issues in Other Areas of the Law

Family Law in Elder Law
Virginia C. Haizlip

Explore the unique challenges and considerations associated with divorces among older adults, the rise in gray divorces, legal considerations, financial implications, and practical tips.

Tax in Elder Law—Tax Considerations for Elder Law Attorneys
Melinda Merk

We will discuss various planning considerations and how to avoid potential pitfalls with regard to income tax and estate/gift/generation-skipping transfer tax issues that elder law attorneys may encounter in their practice.

Real Estate—Protecting the House When Applying for Medicaid
Jennifer D. Kahl

In middle class America, it’s common for a person’s home to be his most valuable asset. Losing that home to the cost of long-term care can be heartbreaking. But when attempting to “save” the house, elder law attorneys must proceed with care: tampering with the title to real property may have unintended consequences impacting the client’s estate and tax plans. In this session, we will review a variety of strategies to protect the house while maximizing eligibility for Medicaid, along with discussing how to mitigate possible negative impacts to other areas of planning. We will discuss various planning considerations and how to avoid potential pitfalls with regard to income tax and estate/gift/generation-skipping transfer tax issues that elder law attorneys may encounter in their practice.

It is easy to grab a template and draft a trust; however, that is only the tip of the iceberg when planning for an individual with a disability. This presentation will focus on the ancillary issues that practitioners should focus on when working with families.

As an asset protection strategy, “gray divorce” has long been among the tools of last resort in the elder law attorney’s toolbox. Depending on your client’s wishes and needs, the idea of ending a marriage to protect assets in a long-term care crisis may well be anathema to them (for others, a relief). More and more, we have been able to shift income streams from defined pensions and assets within a qualified retirement account (such as a 401(k), 403(b), and other ERISA creatures) without resorting to divorcing our long-married clients. We will discuss the federal ERISA backing as well as the Virginia VRS laws and regulations that make such transfers possible, when paired with the appropriate state law “hook.” We will also spend time on how to recognize when a tool such as a QDRO, ADRO, COAP, or similar tool may be useful for asset protection and income preservation in a long-term care or financial planning scenario.

This session will explore wrinkles that may arise from seemingly simple scenarios. Most elder law attorneys practice in this area of law to be helpful to those ahead of us on the conveyor belt of life. While the confluence of issues can be intellectually stimulating, pausing to consider our ethical rules is always prudent. Sometimes if we move too quickly to help, we might miss an “issue.” Therefore, developing a knee-jerk mental grid through which to spot issues is desirable.