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Ellen Cookman - Special Needs Trust Attorney
Registrace 24. 10. 2020
Ellen Cookman started Cookman Law in 2015 to help families of all shapes and sizes plan for the future and utilize available resources. Ellen is a Certified Specialist in Estate Planning, Trust & Probate Law from the California State Bar Board of Legal Specialization. She received her J.D. from UC Berkeley School of Law and her LL.M. in Estate Planning, Trust and Probate from Golden Gate University.
At Cookman Law, we are passionate about helping families with complex situations plan for the future. We believe that each family has unique needs, and their estate plan should be customized to meet those needs. Ellen Cookman started the firm in 2015, to provide broad estate planning services in the California Bay Area with a sub-focus on special needs planning.
Check out our website at:
cookmanlaw.com/
Subscribe to our newsletter at:
cookmanlaw.com/cl-blog/
Looking forward to connecting!
(650) 690-2571
At Cookman Law, we are passionate about helping families with complex situations plan for the future. We believe that each family has unique needs, and their estate plan should be customized to meet those needs. Ellen Cookman started the firm in 2015, to provide broad estate planning services in the California Bay Area with a sub-focus on special needs planning.
Check out our website at:
cookmanlaw.com/
Subscribe to our newsletter at:
cookmanlaw.com/cl-blog/
Looking forward to connecting!
(650) 690-2571
Helping Your Child Buy Their First Home
Are you considering helping your adult child buy their first home? This is a wonderful thing to do, but there are things you’ll want to take into consideration before doing so - things that can affect your estate and your taxes.
In this video, Ellen will discuss the pros and cons of five different options to consider when helping your child purchase a house. Of course, we recommend that you talk with an estate planning or real estate attorney before making your final decision, but this video is designed to answer some initial questions and help you decide which options may work for you.
00:00:00 Does your child want to buy their first home,
00:00:17 Ways to Help Your Child Acquire a Home
00:00:32 Outright Gift of Cash
00:01:07 Drawbacks of Making an Outright Gift
00:02:14 Making a Loan to the Child
00:03:03 Purchasing a House with Your Child
00:04:36 Co-Ownership Drawbacks and Solutions
00:06:08 Estate Attorney's Advice on Co-Ownership
00:06:14 Dynasty Trust for Asset Protection
00:06:19 Considerations for Dynasty Trust Gift
00:07:11 Timing and Property Transfer Options
00:07:29 Property Rental and Ownership Options
00:07:40 Transfer of Ownership and Tax Implications
00:08:17 Proposition 19 and Property Transfer
00:08:46 Options for Helping Your Child Buy a House
00:08:58 Consulting with Legal Professionals
✅ Please Subscribe to my channel I put out a new video every week →
czcams.com/channels/qbqkvMjclxeAA2s7HPaWuA.html
✅ FREE Initial Call 👇👇
cookmanlaw.com/talk-to-intake-team/
💥 Follow me on Social Media 💥
Instagram: cookman_law
Facebook: cookmanlaw/
LinkedIn: www.linkedin.com/in/ellen-cookman-jd-ll-m-88728b12/
Website: cookmanlaw.com/
Looking forward to connecting!
Please call or text with any Estate Planning questions: (650) 690-2571
The content of this CZcams channel is provided for informational purposes only and is not intended to constitute legal advice. You should not rely upon any information contained on this CZcams channel for legal advice. Viewing this CZcams channel is not intended to and shall not create an attorney-client relationship between you and Ellen Cookman or Cookman Law, PC. Messages or other forms of communication that you transmit to this CZcams channel will not create an attorney-client relationship and thus information contained in such communications may not be protected as privileged. Neither Ellen Cookman nor Cookman Law, PC makes any representation, warranty, or guarantee about the accuracy of the information contained in this CZcams channel or in links to other CZcams channels or websites. This CZcams channel is provided "as is," does not represent any outcome or result from viewing of this channel. Your use viewing of this CZcams channel is at your own risk. You enjoy this CZcams channel and its contents only for personal, non-commercial purposes. Neither Ellen Cookman, Cookman Law, PC, nor anyone acting on their behalf, will be liable under any circumstances for damages of any kind.
© 2022 Cookman Law. All rights reserved.
#buyfirsthome #estateplan
In this video, Ellen will discuss the pros and cons of five different options to consider when helping your child purchase a house. Of course, we recommend that you talk with an estate planning or real estate attorney before making your final decision, but this video is designed to answer some initial questions and help you decide which options may work for you.
00:00:00 Does your child want to buy their first home,
00:00:17 Ways to Help Your Child Acquire a Home
00:00:32 Outright Gift of Cash
00:01:07 Drawbacks of Making an Outright Gift
00:02:14 Making a Loan to the Child
00:03:03 Purchasing a House with Your Child
00:04:36 Co-Ownership Drawbacks and Solutions
00:06:08 Estate Attorney's Advice on Co-Ownership
00:06:14 Dynasty Trust for Asset Protection
00:06:19 Considerations for Dynasty Trust Gift
00:07:11 Timing and Property Transfer Options
00:07:29 Property Rental and Ownership Options
00:07:40 Transfer of Ownership and Tax Implications
00:08:17 Proposition 19 and Property Transfer
00:08:46 Options for Helping Your Child Buy a House
00:08:58 Consulting with Legal Professionals
✅ Please Subscribe to my channel I put out a new video every week →
czcams.com/channels/qbqkvMjclxeAA2s7HPaWuA.html
✅ FREE Initial Call 👇👇
cookmanlaw.com/talk-to-intake-team/
💥 Follow me on Social Media 💥
Instagram: cookman_law
Facebook: cookmanlaw/
LinkedIn: www.linkedin.com/in/ellen-cookman-jd-ll-m-88728b12/
Website: cookmanlaw.com/
Looking forward to connecting!
Please call or text with any Estate Planning questions: (650) 690-2571
The content of this CZcams channel is provided for informational purposes only and is not intended to constitute legal advice. You should not rely upon any information contained on this CZcams channel for legal advice. Viewing this CZcams channel is not intended to and shall not create an attorney-client relationship between you and Ellen Cookman or Cookman Law, PC. Messages or other forms of communication that you transmit to this CZcams channel will not create an attorney-client relationship and thus information contained in such communications may not be protected as privileged. Neither Ellen Cookman nor Cookman Law, PC makes any representation, warranty, or guarantee about the accuracy of the information contained in this CZcams channel or in links to other CZcams channels or websites. This CZcams channel is provided "as is," does not represent any outcome or result from viewing of this channel. Your use viewing of this CZcams channel is at your own risk. You enjoy this CZcams channel and its contents only for personal, non-commercial purposes. Neither Ellen Cookman, Cookman Law, PC, nor anyone acting on their behalf, will be liable under any circumstances for damages of any kind.
© 2022 Cookman Law. All rights reserved.
#buyfirsthome #estateplan
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2024 SSI Updates: What you need to know! (Good news!)
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In March of 2024, the Social Security Administration made some updates to how SSI payments are calculated - and these changes can benefit people who depend on these monthly payments to get by! SSI, or Supplemental Security Income, helps people who are not able to work due to a disability. The rules regarding how these payments are calculated can get complicated. They just became a little easier...
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Innovative Special Needs Housing Options in the Bay Area
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Innovative Special Needs Housing Options in the Bay Area If you have an adult child with special needs, chances are high that you worry about who will take care of them and how they’ll manage once you’re gone. For many families of special needs adults, housing is one of the primary concerns. We understand. Recently, Ellen had the opportunity to interview three amazing women, the first of whom w...
Praise for Ellen's Special Needs Planning Presentations - Video Testimonial
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Olivia Heffernan, the Communications, Services, and Youth Events Manager at NAMI San Mateo County, shared wonderful feedback about Ellen’s recent special needs planning presentation. Ellen speaks at a number of organizations to educate and bring a positive influence. If you would like her to speak at your organization’s next event, please contact our office - we would love to chat! ✅ Please Sub...
7 Ways to Keep the Peace After your Death
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7 ways to keep the peace after your death Family drama…it happens to the best of us. There are things you can do to make sure it doesn’t happen after your death, though! Many people consider an estate plan to be one of those things that we should probably all do, but only about 30% of families get around to actually creating one. Sadly, this causes a LOT of drama that just doesn’t have to happe...
Mom and Dad...We need to have "THE TALK"
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Mom and Dad...We need to have "THE TALK" Is it time for “the talk”? No, not that one…we’re talking about the estate planning talk. Asking your parents about their plans for incapacity or death isn’t the most comfortable topic to bring up, but it is essential. In order for you to help them, you need to know where documents and accounts are located and what their wishes are. It goes deeper than t...
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Protecting Your Assets: Estate Planning Strategies in the Midst of a Divorce Are you considering or currently going through a divorce in California? If so, you’ll want to make sure your estate plan is handled with care. Because every situation is different - and because divorces can be lengthy and complex - there are specific rules and regulations concerning how your assets and estate plan must...
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i have ssdi and medicare and part c and d via a medicare advantage plan. i applied for medi-cal via lacdpss online and was rejected because i have ssdi and medicare. i did get apporved for msp/omb. i'm alos awaiting approval for lis via ssa.
WHAT??????
The California Association of Realtors backed Prop 19 absolutely SCREWED the heirs. The ONLY thing working class families had to pass generational wealth to their kids was typically the family real estate. Prop 19 is criminal IMHO
Your videos are very interesting, but the sounds (music) at the background are really overstimulated. I have sensory problems.
943 i get
What is the difference between ABLE accounts and a special needs trust. I have an ABLE account, but can I also have a special needs trust?
I have a video on that: ABLE accounts vs Special needs trust czcams.com/video/ju8zwgC_XK0/video.html
I applied for SSDI I've been waiting for a year and 3 months review I went through the financial review a caseworker I also was diagnosed with long-term covid I was in a car accident I have a level 5 disc injury I am 62 years old after a year and 4 months my caseworker I was so upset one year I didn't make good morning but after that after 2003 I dropped down 14000 or 16,000 a year they're trying to go on 20 22 when I made good money because of overtime this last past 2 years I dropped down through mindlessly maybe 17,000 a year I was so upset they would eat a year and 4 months to tell me that they took me through medical reviews they did all my paperwork all my medical files are properly but then he turned around and told me I might be eligible for other because I'm medically disabled I am so confused could you please help
I’m so sorry to hear of your situation. I suggest you consult with an SSDI attorney in your state. All my best.
The SSI check i get is 943 I wish it was 1100 a month
I'm suing them in federal court again for my backpay oh man it's getting good and I'm doing it on my own I'm one hell of a jail house lawyer ssi is an ( entitlement)
Can you help us understand life insurance in California?
I actually have a video where I interview a life insurance agent: Insuring Your Legacy: Expert Strategies on Life Insurance in Estate Planning with Natalie Oh czcams.com/video/OfsoKYiI40Q/video.html
hello, thanks so much for this very informative video. my neighbor is in similar situation, what do you recommend to those who are no longer eligible for the SN trust due to age and who will be receiving just way below $100k inheritance? I hear irrevocable trust or “spending down” are other options? From your experience, when can the recipient re-apply. thank you.
If your neighbor is age 65 or older, they can look into a pooled trust in their area. I’ll be making a video on this topic in the next few months. 😊
Can a senior citizen NOT disabled establish able account
An ABLE account is only available to disabled individuals whose disability occurred prior to age 26 (increasing to age 46). I don’t believe they are available to seniors without a disability.
@@ellencookman-EstatePlanningSNT Thank you very much.
Can a SNT for a disabled child who does not qualify for SSI/SSDI income (by age and/or parents' income/recourses) be a Qualified Disability Trust? What's the meaning behind this requirement? Is it to limit it to only poor disabled children?
It’s my understanding that a minor child must be disabled according to the Social Security Administration’s definition of disability. Here is a good place to start: www.ssa.gov/redbook/eng/definedisability.htm?tl=0
If you transfer funds (the whole trust annual income) directly from a SNT to an ABLE account do you still need to file trust return and generate K1 for the beneficiary?
I suggest you speak with an accountant about this; the income generated in the SNT will need to be reported somewhere, whether on a 1041 fiduciary income tax return or a K1 for the beneficiary.
I'm sixty years old I depend on full SSI. Months ago I received a settlement and was given nine months for a spend down. My time is about to expire I can't afford to lose my SSI. Been homeless for a long time. What can I do to save the remainder of my spend down fund ? I had plans to move and start over. I spent a few months taking care of my brother which passed away two months ago. Will be spending money on his final expenses and a huge amount for vehicle repairs. After these are taken care of I will have about 4,000$ left. I wanted to move out of state and buy a home. Now I don't have enough. Currently im also trying to disperse some storage units. My stuff is mixed with his personal stuff. I'm not physically able to process things quickly. Heavy lifting is a roadblock for me. Can I request an extension on the spend down time limit ? Sorry for the long drawn out story. I'm worried sick about losing my SSI. Taking a heavy toll on my health issues. I worry about not surviving this. Thank You !
I’m so sorry to hear about your situation. You can reach out to SSA for an extension on the spend-down, though there’s no guarantee they’ll grant it. Best of luck!
Wo, greedy special interests, Real Estate Brokers, the California Association of Realtors (invested $50M getting this passed by the legislature), in cahoots with politicians are the ones who benefit from this ripoff.
SSI keeps people in poverty they do not pay what you are saying I don't know anybody that's getting 1100 and something a month I think
I don't know anybody who's getting $1,100 a month I think you're lying to us
I pay $850 a month nobody pays $334 a month unless you live in a ghetto
Hello, my son and I just received a settlement together. No statement on division yet. How long can the attorneys hold this before put in trust. And it sounds like its best that I set up a 3rd party for him so medical will never have access to the $?
From what you’re describing, it sounds like your son’s money would be considered his own money, so it should go into a 1st party SNT, not a 3rd party SNT. Here’s a video I did on the subject: How to Receive an Inheritance While on Public Benefits
Shouldn't be making videos on ssi when u know nothing about it
full bull you lies you need 2.500 aom in the us wtf sum DEM s not aus 2.000 a om wtf and it is 1.161 a om in ny not nyc i see new and git 1.161 in ny
How do I request transpiration such as a new vehicle? SSI is not involved.
You would usually talk with the trustee of the SNT and ask them for what you need, then they’d make the purchase and deliver the item to you.
Having a solid estate plan is especially important for parents with special needs children. Otherwise, years of planning for your child's future can go out the window along with government benefits.
Now that Clint Coons caveated the Estate Plan is just the first step we’re hiring the Global Pro Bono Backup NICER Arbiter Trust Advisors to build a Latin Law Structure to record monitor validate and certify rightful heirs to avoid equity elder abuse in April. Hopefully this fine lawyer will distinguish herself among her peers and advance her career to avoid inheritance forgers and equity elder abuse.
What if a person refuses the inheritance or don't go get it?
It’s my understanding that a “disclaimer” of an inheritance counts as a gift, and can lead to a lengthy disqualification period from SSI.
what if you just add your child name to the existing residence
I believe that would be considered a gift of a ½ interest - so a lot of what I described about making gifts to children would apply.
Good morning
Good morning be sure to check out Empire College School of Law Posts a Lot of pragmatic changes have been made in the last few months.
Now that Clint Coons caveated the Trust Estate Plan is just the foundation you can build the forgery proof permission ledger revocable living trust with Empire College School of Law on it to prevent equity elder abuse. And protect special needs children from title deed thieves.
Can you please tell us why ABA is allowing citizens to practice law without a license with DIY legal documents to steal homes and put families in the streets?
Hello Ms Cookman, I was trying to access your Special Needs Planning Webinar, but when I clicked on the link, I just see a screen that states: "This page isn't live yet (.) If you are the owner of this domain you need to publish your site before you will see it here." I was wondering if you or your tech helpers may know what this means, and whether you were aware that this message is coming up? And if there might be an easy resolution to it , so we can access the webinar? TIA. Your other videos have been really helpful. Thank you.
Thanks for letting me know! We'll look into this. For now, please view this link and see the Special Needs Planning webinar as the first video linked on this page as you scroll towards the middle of the page. cookmanlaw.com/estate-planning-webinar/
I LIVE IN CHEYENNE WYOMING
I ONLY FET $460 IN SSI BENEFITS 😢 AND $560 SSDI
I will believe it when the money is in the bank.😊😊😊
In the bank account 😂😂 in my bank ACCOUNT 🏦
8:41
@@Fat122199:32
When
I don’t know how this channel doesn’t have a million subscribers
Your amazing, I only wish you where in my state.
Thank you! This means a lot to me.
What if there are two disabled adult children who qualify in one family?
It’s my understanding that the 2 disabled adult children would need to split the CDB payment between them.
Who is this person and where on earth did she get her info? Every word she is saying is she just pulling this stuff out of the blue? If I got 1100 dollars a month I would be dancing in the street!
thanks so much. Clear, concise, and engaging! I don't know if you can answer this, but i'm in Oregon and am curious if you know how the rules and regs would be substantively different.
Thanks for your kind words! Much of what I described is federally-based income tax law, so that would stay the same all over the US. But I don’t know Oregon state income tax rules so I can’t address that specifically.
Can I move out of the USA and still receive said???
I don’t think so; you need to be a resident of that state to receive the benefits. But the other country might have their own benefits you can utilize.
When are they gonna increase SSI payments?
Soon I hope! But given politics these days, it’s probably unlikely.
Until they run out
What about Texas is it the same where you are talking about
Like everybody else's videos just more bulshit
Where do you get this that people are getting $1,100 SSI people in Alabama don't get with $943 so I don't know where you're getting your information you must be out there in California somewhere but we don't get that
I believe she’s talking about California
943. I wish I could get that much.
It doesn't go far especially trying to pay bills and food and gas. And then ur broke..,..
They just took my Cola away
Please send me your support application and teach me what to do with the emails Daniel maroda 10/19/66 801686-9744 I have medicaid and I have to take medicine for the year my two surgical events are gull bladder removal and this resent operation was to stop heart attacks and so the surgery went well and I now am looking for a new place being I'm from California and I was just visiting the winter games
Hello.i get SSI of 943 a month would that change
No, these changes don’t impact the amount of SSI one receives monthly; though that number increases slightly each year.
I don't get that much
need to know the rules regarding social security Survivors and inheritance