By:  Jeffrey D. Stauffer – Community Relations Director, Elville and Associates, P.C.

Stephen R. Elville, Managing Principal and Lead Attorney of Elville and Associates, a leading estate planning, elder law, and special needs planning firm in Maryland, will present during the fifth of six sessions of the Maryland State Bar Association’s Medicaid Planning Evening Series on Tuesday, May 4^th.  Mr. Elville will discuss “Medicaid Asset Protection Trusts – Drafting and Implementing: Estate Planning and Incapacity Planning when Medicaid Relevant.”

The MSBA’s Elder Law and Disability Rights Section livestream program began on Tuesday, April 6^th and will conclude on Tuesday, May 11^th.  The six-part series covers all critical elements of Medicaid planning so attendees can best advise clients in this complicated practice area. Each two-hour session occurs weekly on Tuesday evenings.  The full schedule of the livestream program includes many areas of Medicaid planning strategies, including:

Night 1: (Tuesday, April 6, 2021) Medicaid Planning Eligibility 101 – Technical, Financial, and Medical Issues. Preparing the Medicaid Application and Filing Online

Night 2: (Tuesday, April 13, 2021) Protecting Real Estate and Gifting Strategies for the Single Applicant in Medicaid Planning

Night 3: (Tuesday, April 20, 2021) SPIA Planning for Married Couples and Planning with Promissory Notes

Night 4: (Tuesday, April 27, 2021) Proving Disability (State Review Team). Disability and Special Needs Trusts in Medicaid Planning

Night 5: (Tuesday, May 4, 2021) Medicaid Asset Protection Trusts – Drafting and Implementing: Estate Planning and Incapacity Planning when Medicaid Relevant

Night 6:( Tuesday, May 11, 2021) Preparing and Applying for Yearly Redetermination of Medicaid Benefits.  Building Your Practice

Should you have questions or need guidance related to Medicaid planning or any other elder law, estate planning, or special needs planning-related matter, contact Mr. Elville at steve@elvilleassociates.com, or at 443-393-7696 x108.  The attorneys and professional staff of Elville and Associates are committed to and passionate about providing its

clients with a unique experience and exceeding their expectations as they navigate through the important decisions and complexities of estate planning, elder law and Medicaid planning, estate and trust administration, and special needs planning.  The firm strives to assist its clients with compassion, through education and counseling, and in a collaborative manner – acting as a true partner as they work alongside their planning team advisors to provide the very best counsel and service possible.

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By: Stephen R. Elville, J.D., LL.M. – Managing Principal and Lead Attorney of Elville and Associates, P.C.

During this beautiful spring period of renewal, Elville and Associates continues to educate clients, their families, fiduciaries, and professional advisors.  Only through client education and subsequent client care/maintenance and updating of estate plans can success in estate planning truly be assured over the long run during life, and at maturity.   Whether you are young or old, of considerable wealth or of modest means, healthy and well or facing significant health challenges, availing yourself of continuing client legal education and taking advantage of a professional advisory team for the optimization of your estate, financial, and tax planning, can and will provide significant value to you and your family.

Now, more than ever, is the time to have your existing estate or elder care plan reviewed and updated, or to begin the process of establish your planning.  

As the law firm in Maryland that talks the talk and walks the walk of client education, Elville and Associates is here to serve with leading edge legal-technical knowledge, client care, client education, collaboration, and compassion.  Catch the spirit of planning for life and planning for legacies.

For more information or to set an appointment, please contact Community Relations Director Jeff Stauffer at jeff@elvilleassociates.com, or at 443-393-7696 x117.  Mr. Elville may be reached directly at steve@elvilleassociates.com, or at x108.  

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People whose disabilities arose later in life will be able to open Maryland ABLE savings accounts if a bill just reintroduced in Congress, the ABLE Age Adjustment Act, becomes law.

In 2014, Congress passed the Achieving a Better Life Experience (ABLE) Act, which created a new form of tax-free savings account for people with disabilities and their families to set money aside for disability-related expenses. Simpler to set up than traditional trusts, Maryland ABLE accounts allow people with disabilities to save up to $100,000 in an account without jeopardizing their eligibility for Supplemental Security Income, Medicaid, and other government benefits.  More than 82,000 ABLE accounts including those in Maryland have been established in all participating states since the Act’s passage.

However, Maryland ABLE accounts and others around the country are currently limited to people whose disabilities arise before the recipient turns age 26, effectively excluding millions of people with chronic conditions or traumatic life events that occurred in their middle years. Veterans are particularly affected by this limitation.

Raising the onset age above 26 has been a top priority for disability rights advocates for years. The ABLE Age Adjustment Act, which would allow Maryland ABLE accounts to be opened by people whose disabilities arose prior to age 46, was first introduced in Congress in 2016.  Versions of the bill have been introduced each year since then.  The measure was again reintroduced in both the House and Senate in February, 2021 (S. 331 and H.R. 1219).  Supporters are hopeful that this will be the year that the bill finally becomes law.

If it passes and is enacted into law, the National Disability Institute estimates that an additional 6.1 million people would be eligible to open ABLE accounts in Maryland and around the country, according to a March 2 letter signed by dozens of disability advocacy groups under the umbrella of the Consortium for Citizens with Disabilities (CCD).

“Passing the ABLE Age Adjustment Act would nearly double the currently eligible population and improve the sustainability of ABLE programs nationwide,” the CCD wrote. “Most importantly, this bill would enable otherwise-eligible people with a variety of later-onset disabilities (many of whom spent years advocating for the original ABLE Act) to realize the benefits of the ABLE accounts to increase their financial security without jeopardizing their much-needed public benefits.”

“There are many people who become disabled after age 26 who deserve the opportunity to achieve greater financial independence and self-reliance,” Kandi Pickard, president and CEO of the National Down Syndrome Society, said in a news release. “In addition, the legislation will reduce costs and fees associated with administering state ABLE programs and make them more affordable for all beneficiaries.”

Click here to read the full Senate bill.

For information regarding the Maryland ABLE program, please visit marylandable.org.  For a directory of state ABLE programs, click here. 

To discuss how a Maryland ABLE account can be part of a comprehensive special needs plan for your family and your special needs loved one, contact the special needs planning attorneys at Elville and Associates for a free consultation to discuss your family’s situation.  Our attorneys and professional staff are committed to and passionate about providing our clients with a unique experience and exceeding their expectations as they navigate through the important decisions and complexities of special needs planning.  We strive to assist our clients with compassion, through education and counseling, and in a collaborative manner – acting as a true partner as we work alongside their planning team advisors to provide the very best counsel and service possible.  

Legal Administrator Mary Guay Kramer may be reached at mary@elvilleassociates.com, or 443-741-3635, while Community Relations Director Jeff Stauffer can be reached at jeff@elvilleassociates.com, or 443-393-7696 x117.

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Senior Principal and estate planning attorney Olivia Holcombe-Volke offers this discussion regarding the financial planning aspects of estate planning. Estate planning is so much more than a static set of documents. Learn why your estate plan needs to work in concert with the rest of your financial plan and why your estate planning attorney should be an integral part of your “planning team” – your financial planner/financial advisor, CPA, and other professionals”

– to ensure your plan works smoothly and as intended. Topics to be discussed include:

– Asset Alignment/Funding of the Estate Plan: Why is this so vital, and what does it mean?

– Beneficiary Designations: When, Why, How – Addressing the nuances depending on the type of estate plan, the type of asset, and the specific beneficiaries

– The Financial Planner/Financial Advisor: Why this is an integral piece in the success of an estate plan, from inception to ultimate administration

Open to clients, financial advisors, and the general public, 1.5 continuing education hours are offered to CFPs, CPAs, and other professionals who attend. This webinar is offered in partnership with the Howard County Library System, a longtime supporter of Elville and Associates’ educational programs. To learn more about the HCLS, its educational programs and calendar of events, please visit https://live-howardcounty.pantheonsit…​ or contact Ms. Rohini Gupta, Adult Curriculum Specialist, at rohini.gupta@hclibrary.org.

More Webinars from Elville and Associates

The education of clients and their families through counseling and superior legal-technical knowledge is the mission of Elville and Associates.  We hold multiple educational events every month. Click to view our calendar of educational webinars and events or visit the Elville and Associates YouTube channel to view recordings of our past webinars.

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This webinar is an in depth overview that thoroughly educates attendees about the essentials of estate and elder law planning. Presented by Elville and Associates’ Managing Principal and Lead Attorney Stephen R. Elville, in our Estate Planning and Elder Law Essentials webinar Steve thoroughly educates attendees about estate planning and incapacity planning issues. Some of the topics he addresses include:

– understanding the planning process, including the reasons for estate planning

– wills vs. trusts

– probate vs. non-probate and understanding non-probate devices

– the absolute importance of incorporating “flexibility” in your planning

– planning for incapacity

– understanding the importance of financial powers of attorney, advance medical directives and MOLST

– Medicaid- myths versus reality

– estate tax planning

– asset protection and protecting shares for children and grandchildren

– understanding why having outdated documents could provide challenges in the future, and how to achieve perfection for your legacy

More Webinars from Elville and Associates

The education of clients and their families through counseling and superior legal-technical knowledge is the mission of Elville and Associates.  We hold multiple educational events every month. Click to view our calendar of educational webinars and events or visit the Elville and Associates YouTube channel to view recordings of our past webinars.

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The “For the 99.5%” Act was introduced on March 25, 2021 by Senator Bernie Sanders.  This proposed Act represents the beginning of the real discussion surrounding the long-awaited Biden-era tax increases.  Among many things being proposed in the For the 99.5% Act are a reduction in the federal estate tax exemption to $3.5 million per person, and a reduction in the federal gift tax exemption to $1 million per person.  These proposed reductions from the current $11.7 million per person exemptions, along with many other proposed in the For the 99.5% Act will have far-reaching impacts on a substantial number of Americans and their estate and tax planning.  You can read a copy of the For the 99.5 Act here.  Because the discussion has begun, the first question appears to be when and not if significant tax increases will occur as a result of the For the 99.5% Act.  The second question is whether you will be ready.  Although nothing is certain, initial indications are that the coming nine (9) remaining months in 2021 represent the ticking clock of time remaining to anticipate and prepare for these potential changes.  Thoughtful couples and individuals should act now to evaluate the potential for changes in the laws and the planning strategies that we anticipate will continue to be available throughout the remainder of 2021. 

At Elville and Associates, it is our mission to educate and counsel our clients using the very best leading- edge legal-technical knowledge available.  To set a time to discuss the impacts of the For the 99.5% Act on your estate and tax planning, contact Steve Elville at steve@elvilleassociates.com, or at 443-393-7696 x108.  You may also reach out to Mr. Elville’s Legal Administrator, Mary Guay Kramer, at mary@elvilleassociates.com, or at 443-741-3635.  

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Join Elville and Associates as we welcome Dr. Tyler Raup, a clinical audiologist with Chesapeake Hearing Centers, for this insightful webinar presentation about “The Impacts of Hearing Loss as We Age.”

The itinerary/topics include:

-How we hear

-Common causes of hearing loss

-Impacts of hearing loss on overall health

-Impact of hearing loss on cognition and brain function

-How your hearing loss impacts yourself and those around you

-What can be done if you do have hearing loss

More Webinars from Elville and Associates

The education of clients and their families through counseling and superior legal-technical knowledge is the mission of Elville and Associates.  We hold multiple educational events every month. Click to view our calendar of educational webinars and events or visit the Elville and Associates YouTube channel to view recordings of our past webinars.

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On Thursday, March 23^rd, Elville and Associates, an estate planning, elder law, and special needs planning firm in Columbia and Annapolis, was selected as the 2021 Recipient of the Brain Injury Association of Maryland’s Organizational Leadership Award.  The Award is given annually in appreciation of an organization’s dedication to and support of the work of the Brain Injury Association of Maryland.

Upon learning of the firm’s honor, Elville and Associates’ Managing Principal and Lead Attorney Stephen Elville remarked, “I am humbly proud to receive this award on behalf of Elville and Associates from such an important, devoted, and mission-oriented organization as the Brain Injury Association of Maryland. Elville and Associates is privileged to partner with Executive Director Bryan Pugh and his staff of professionals at the Brain Injury Association of Maryland in a collaborative effort to positively affect the lives of those individuals and families impacted by traumatic brain injury.  Thank you to BIAMD for this award and for the opportunity to be a part of your important work.”

Founded in June 2010, by Stephen Elville, J.D., LL.M., Elville and Associates is an estate planning, elder law, and special needs planning practice.  It is the firm’s mission to provide practical solutions to its clients’ needs through counseling, education, and the use of superior legal-technical knowledge.  As it relates to special needs planning, the firm works collaboratively with individuals and families and their professional advisors to counsel, educate, and create a comprehensive plan for the family and their special needs loved one.  This includes, among other planning considerations:

• establishing proper estate planning for the family, including the use of special needs trusts
• leveraging means tested public benefits
• selecting the proper team to provide lifetime management
• planning for appropriate housing and an ongoing system for advocacy
• providing financial security
• planning for caregiving needs
• coordinating the entire extended family’s planning
• protect the beneficiary from predators and preserving assets for other heirs

Should you have any questions about Elville and Associates and its services, please contact Steve Elville at steve@elvilleassociates.com, or by phone at 443-393-7696 x108.  Bryan Pugh and the Brian Injury Association of Maryland staff may be reached at 410-448-2924.

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The first of the long-awaited Biden tax proposals have been introduced in Congress.  In short, income tax rates will likely increase soon, and estate and gift tax exemption amounts will decrease. Now is the time to proactively review estate and tax planning for individuals and couples.  We encourage you to read detailed information regarding the Biden tax proposals.  

In the coming weeks and months, look to this blog, along with other information and webinar workshops available on our website at www.elvilleassociates.com, for updates about the Biden tax proposals and these pending legislative changes, recommended resources, education, and planning ideas.  If you do not have an estate plan or have not updated your estate planning in several years; or if you have general planning questions or seek to form a personal estate planning team of advisors, please contact our office to set an appointment.  To reach Steve Elville, please email him at steve@elvilleassociates.com, or by phone at 443-393-7696 x108.  

Founded in June 2010, by Stephen Elville, J.D., LL.M., Elville and Associates is an estate planning, elder law, and special needs planning practice.  It is the firm’s mission to provide practical solutions to its clients’ needs through counseling, education, and using superior legal-technical knowledge.  As it relates to the Biden tax proposal, these are the types of issues our clients want and need to know about to ensure their planning works as intended and is up to date with the most recent changes in the law.  It is extremely important clients revisit their estate plans with their attorneys every few years, and at a maximum every five. 

The firm counsels its clients based on the core principles of the Elville Legacy System™ — the six steps to perfect estate planning.  Mr. Elville has also developed programs for clients who wish to streamline the planning process but still wish to enjoy the benefits of the educational component throughout, including Elville Self-Direct Select™ and Elville Self-Direct Protect™, a limited-attorney-assistance client education program for estate planning.  The firm also offers an Advisors’ Forum every two months for its planning team partners, a continuing education series that covers the latest topics in the world of estate planning, elder law, and special needs planning.

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Over the years, many people have asked me about long-term care asset protection in light of Medicaid spend-down requirements.  How many?  Hundreds, possibly thousands.  And yet, how is possible it that so many people do little or no planning for long-term care and wait for a crisis to occur?  

Long-Term Care Asset Protection Laws Have Changed

In years past, this was somewhat understandable. Twenty or so years ago laws related to long-term care and asset preservation were fairly unsettled compared to now. Consequently, the strategies were relatively unsophisticated.  This is no longer the case. 

Today, however, couples and individuals who seek to engage in long-term care asset preservation must proactively engage in up-to-date strategies that are based on accepted estate planning principles.  While subject to state laws and regulations, many of these asset strategies can even be put into effect at the onset of a long-term care crisis.

One example of a planning tool that is designed to protect the assets of a loved one requiring long-term care is the Medicaid asset protection trust.  It is an irrevocable gifting trust whereby a grantor (i.e., a parent, grandparent) retains some power and a modicum of control while protecting gifted assets from the claims of beneficiary creditors. It may also offer some favorable tax advantages. Unfortunately, this protection tool is underutilized by the estate planning community, especially considering the potential power and the flexibility it provides to accomplish elder and long-term care goals. 

Be sure your estate planning attorney is well-versed in laws related to protecting assets and long-term care. Learning about modern techniques for long-term care and asset protection is simply a matter of scheduling an elder law consultation. Doing so generally opens a world of possibilities through education and counseling.  So don’t be “stuck in the ’80s” or even the ’70s or ’60s when it comes to understanding what your family needs to know about long-term care asset preservation.  

To schedule a time to meet with Stephen Elville to discuss your family’s needs related to long-term care asset protection or any estate planning, elder law or special needs planning matter, contact him at steve@elvilleassociates.com, or by phone at 443-393-7696 x108.

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