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My father has established a trust years ago and has recently reviewed/updated it. He has appointed DPOA as well as MPOA and trustees, beneficiaries. We both are absolutely fine with the decisions made.


He has moderate dementia at this point and is cared for @ home.


Do we (his children) still need to contact an elder law attorney?

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Thanks everyone!
Just wanted to be sure we weren’t gonna find out the hard way that another step should have been taken... we have a real trust established in dad’s financial advisor and the attorney that drew up the family trust. Seems the bases had been covered, but I kept hearing others be referred to an elder law attorney, and wasn’t sure if that was another base that needed to be covered.
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Yes you definitely want to make sure all assets are titled to the trust. This will avoid issues later on when mom & dad have passed and it’s time for the executor to start their duties. The estate attorney neglected to tell my MIL that her bank accounts should have been changed over to the name of her trust. She had multiple bank accounts—1 savings account had my SILs name on it but no money was my SILs though, her name was just added to the account to help her get a mortgage. There was another one with my husband’s name on it and again the money wasn’t his. So when she passed, they both became the legal owners of those accounts & the money was legally theirs even though MIL wanted the money dispersed equally amongst all her kids & this was stipulated in her will. Her person accounts, she did have her children down as payable upon death beneficiaries. It all worked out because my husband and SIL knew their mothers wishes and they each withdrew the money from their accounts and deposited it into the trust account. But they each could have taken the money and kept it all. You might want to ask a tax account or estate attorney about taxes if the bank accounts are put in the name of the trust. It’s my understanding that the trust or the beneficiaries may have been taxed if the bank accounts had been put in the name of the trust. Keeping her name on the accounts was actually better from what I understand.
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Isthisrealyreal Nov 3, 2018
Unless it is a spouse that gets everything, there will be taxes.
Maybe not much but some. This is all paid from the estate before distribution of assests.
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Everything should be titled in the name of the trust and he should have an overflow will that covers anything that might have been missed or is acquired after the trust date. It is a simple will that basically directs everything to go to the trust.

The only thing that I would add is a hippa release for anyone that he wants to have information, this can be kept by a trusted individual with the express direction of it being given at his declared incompetence or his death. If you will need any information after his death, without this form they can give you a hassle as POA dies with dad.

Great job, do you have all of your paperwork in order? One never knows and it helps protect dad if you are his sole caregiver.
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Sounds like you've done a great job to me, I don't know think a elder care attorney would be a value-add IMHO. To be sure - all assets have the trust as the beneficiary as well as the grant deed if there's any property. Safety deposit box has a co-signer if he has one. And kudos for taking care of Dad at home.
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