Many of our readers have requested additional information about OBRA Special Needs Pooled Trusts.
In Cook County, many wards' estates, valued in the hundreds of thousands of dollars, are placed into OBRA Supplemental Needs Pooled Trusts.
Supposedly, this is being done for the benefit of the ward as it allows the ward to qualify for Medicaid, thus saving the funds for the special needs of the ward.
However, in reality, the ones benefitting from these trusts are the attorneys and guardians. Once a ward's estate is placed into the trust, they can no longer (by law) reside in private pay nursing homes, and are thus moved into public aid facilities.
And, instead of using the funds placed into the OBRA for the special needs of the wards that aren't being met in the public aid nursing homes, the funds are being used primarily to pay attorneys and legal fees until the estate is depleted.
Full Article and Source:
ProbateSharks
14 comments:
This is exactly what they do with large PI settlements in developmentally disabled adult "children."
I heard Bev and Ken on The Truth Squad the other nite. They are very courageous people and great advocates!
Go sharks!
Keep on exposing, informing and educating we the people while we track those in powerful places knowing they have the power and authority to stop this insanity.
Who knew, what they knew, when they knew and what if anything they did about it.
Great job sharks! Looking forward to more.
I heard Ken and Bev on The Truth Squad too. Very good show!
I love the Sharks! And I do believe Cook County is one of the worst.
Amazing how all the laws benefit the crooks.
Yes, this is the idea. Hide the money in an OBRA and then protect it for the vultures.
Thank you for saying it outloud, Sharks.
I wish there were Sharks in every state!
There's no trick they've not tried. This makes me sick to think of how they're hiding these assets to feast on themselves.
It's happening everywhere and I am glad to see people stepping up to the plate and fighting back.
Thank you sharks.
Norma that is right
What they are doing to the elderly they have been doing to the disabled since 1993 when Obra was born .......... The Healthcare Fraud of the Century ..........
http://www.youtube.com/watch?v=OF4_tyb7FQU
Funds in those OBRA accounts are supposed to be repaid to Medicaid upon the death of the individual.
Is there anything left at that poin?
Probate Sharks have set the standard. I hope other states follow suit.
Trusts are another way of hiding funds from scrutiny. The name "trust" is a misnomer.
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