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Advocacy and Public Policy
PAGE 9
Advocacy and Public Policy—
Senate Committee Approves $6 Million for the ALS Registry
Great news! The Senate Appropriations Committee has voted to provide
an additional $6 million for the ALS Registry in 2012!! The
funding will allow the Registry to continue to identify cases of ALS
across the country, collect additional information about the disease
and expand exciting projects such as adding a biorepository and tools
to help people with ALS learn about and enroll in clinical trials.
This is a tremendous victory for every person with ALS. It is a clear
sign that Congress recognizes the critical role the Registry can play in
the fight to find the cause, treatment and cure for ALS. It also is clear
that ALS is a priority for the Senate. The Committee reduced funding,
or eliminated it entirely, for most other health care programs. In fact,
funding for the entire Department of Health and Human Services was
reduced. Yet, the Senate maintained strong support for the Registry
by keeping funding at the current level.
David Buchannan, PALS, Dan Lungren,
Amy Sugimoto
The full Senate still must vote on the Department of Health and Human
Services Appropriations bill that includes the Registry funding,
and the House Appropriations Committee also must vote on their version
of the bill. Therefore, there are a number of steps remaining in the legislative process before we can declare victory this year.
We will keep you updated on the latest news and let you know when your outreach to Congress is needed. Thank you!
Protect Your Children with Maximum Creditor and Divorce Protection—
An irrevocable trust set up by someone other than the beneficiary provides ultimate creditor protection. With divorce rate soaring, and an increase
in lawsuits, creditor protection should be a very important objective for clients who prepare an estate plan. Generally, a Grantor of a trust can decide
who may receive the benefit of the trust assets, and under what circumstances assets may be distributed. Property distributed outright to a
trust beneficiary is subject to creditors’ claims. Property passed in trust may be protected.
“I want my children to get one-third at age 25, one-third at age 30, and the final third at age 35.” STOP!! Don’t do it! This distribution scheme does
not take into account that many of our beneficiaries will at some point in life, be sued or divorce. When assets are distributed, they are unshielded
from the safety-net of the trust and exposed to creditors and soon-to-be ex-spouses.
An Estate Planning Attorney is able to draft a trust to protect trust beneficiaries, such as surviving spouses and children, from creditors and divorcing
spouses. This means that when you die, and your spouse remarries, the assests you left in trust are protected and directed to your beneficiaries
of choice.
Beneficiaries may even serve as the trustee of Support trusts. This way, they are able to use the trust assets for nearly any reason, but still have
protection from creditors. Language of the trust is careful to limit distributions of both trust income and principal to reasons such as health, education,
maintenance, and support. Further, the trust directs the trustee not to distribute assets to the beneficiary’s estate, his creditors, or creditors of
his estate. This language keeps the trust out of the beneficiaries’ estate for estate tax purposes as well as provides creditor protection. Discretionary
Trusts, which give an independent trustee complete discretion over distributions, provide the best creditor and divorce protection. Trusts drafted
with mandatory distributions are inadequate. Forced trust distributions unnecessarily expose your beneficiaries to creditors and divorce. Support
Trusts do a better job, and Discretionary Trusts offer maximum protection against creditors and divorce.
This article is based on an article written by Steven J. Oshins in
November 2008.
Dustin MacFarane, Attoney
Health Care Estate Planning
www.MacFarlaneLegal.com
Bob Scrivano
www.AssetsandAging.com
800-999-8007