The Lawyers With Purpose Client Centered Software has different genres of trusts. And it's important to distinguish the iPug protection trust. Many other national organizations try to compare themselves to it, but they can't. The iPug is trademarked and even has some patent-pending features to it.
I've had the ability to look at all the softwares in the industry, and they all have features that match some of the features in an iPug trust. But an iPug trust is a series of features that are unique all in one place that gets a variety of results. What are some of the results?
For example, an iPug trust can be used for several facets. One facet it is traditionally used for is Medicaid eligibility. And there's variations of Medicaid compliance, so we have the income-only versions, we have the control-only versions, and we have the third-party versions, otherwise known in the Lawyers With Purpose community as the MIT, the FIT, and the KIT. These are our trademarked terms. You cannot have a MIT, FIT, and KIT unless you have our iPug software.
It is a very unique series of features and functionalities that work together to get results that apply not only to the Medicaid client, but also has uses in VA eligibility and in asset protection, far beyond Medicaid. For non-taxable estates – ten and a half million dollars or less for a married couple - five and a quarter million dollars currently for a single person – there's a lot of functionality for asset protection. You can use it for business owners quite commonly and I have a client that just had five of them for his multiple real estate holdings.
So these trusts have multiple, multiple applications far beyond the Medicaid, but also they're user friendly. Clients like them because they're able to be in control of the trust or able to change them. They're actually able to even have some uses and benefits from them with some restrictions that we provide training on. They are very unique and very exciting! And once you get it, it's hard to go back to anything else.
If you are intested in learning more about the Lawyers With Purpose software and want to spend 2 and 1/2 days with us learning about Asset Protection, Medicaid & VA, register for our Practice With Purpose Program today and reserve your spot. If you are an existing LWP member and would like to attend please contact email@example.com for registration information.
David J. Zumpano, Esq, CPA, Co-founder Lawyers With Purpose, Founder and Senior Partner of Estate Planning Law Center