Simplifying the Complicated with Lori Bolander and Lauren Gallagher, Episode 9
In this episode of Simplifying the Complicated, Lori Bolander and Lauren Gallagher speak with colleague and attorney Carly Maganuco.
Tune in to the episode to hear about:
* Why special needs trusts are essential for preserving the eligibility of individuals with disabilities for public benefits such as Medi-Cal and SSI, requiring meticulous planning and specific language to ensure compliance with federal and state regulations
* The differences between first-party and third-party special needs trusts, with third-party trusts being funded by someone other than the beneficiary and first-party trusts being funded with the beneficiary's own assets
* The importance of having an experienced attorney draft and review these trusts due to their complexity and the frequent changes in laws and regulations, which can have significant impacts on the beneficiary's eligibility and access to benefits.
* Why choosing a trustee for a special needs trust is critical, with recommendations to consider professional fiduciaries, who are well-versed in accessing community resources and benefits, while also allowing for family members to be involved as advisors or decision-makers.
Learn more about Carly Maganuco:
* Connect with Carly on LinkedIn: https://www.linkedin.com/in/carly-maganuco-esq-53499811a
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About the Simplifying the Complicated podcast with Lori Bolander and Lauren Gallagher:
In each episode of Simplifying the Complicated, we'll get together with other professionals and have fun talking about trust and estate matters.
Watch more episodes of Simplifying the Complicated:
* YouTube: https://www.youtube.com/@LawGBS
Connect and learn more from your hosts, Lori Bolander and Lauren Gallagher:
* Connect with Lori on LinkedIn: https://www.linkedin.com/in/lori-bolander-a62b97177
* Connect with Lauren on LinkedIn: https://www.linkedin.com/in/lauren-gallagher-3b213b12
* Visit Lori and Lauren’s firm’s website: http://www.lawgbs.com/
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