The question of whether a trust can pay for service subscriptions that monitor health data is becoming increasingly relevant as technology advances and more people utilize these services for preventative care and ongoing health management; generally, the answer is yes, but it requires careful consideration of the trust document’s language, the type of subscription, and applicable laws regarding healthcare expenses.
What Expenses Can a Trust Typically Cover?
Most trusts are designed to cover a wide range of expenses for the benefit of the beneficiary, including healthcare costs; however, the specifics are dictated by the trust agreement itself. Traditionally, this has included things like medical bills, long-term care, and prescription medications. According to a 2023 study by the American Association of Retired Persons (AARP), approximately 70% of individuals over 65 have at least one chronic health condition, making ongoing monitoring increasingly vital. The key is whether the health data subscription falls under the definition of “healthcare” as outlined in the trust. For example, a subscription to a service that monitors blood glucose levels for a diabetic beneficiary would likely be considered a valid healthcare expense. However, a purely “wellness” subscription focused solely on fitness tracking, without a medical component, might not be. It’s crucial to review the trust document with Steve Bliss, an Estate Planning Attorney in Wildomar, to determine the scope of permissible expenses.
How Do We Define “Healthcare” in the Digital Age?
The definition of healthcare is evolving rapidly. Services like wearable health trackers, remote patient monitoring systems, and telehealth platforms are becoming commonplace. These services generate data that can be used to proactively manage health conditions, potentially preventing costly medical interventions down the line. In 2022, the global remote patient monitoring market was valued at $23.5 billion and is projected to reach $175.2 billion by 2030, demonstrating the increasing reliance on these technologies. The IRS generally allows deductions for medical expenses exceeding 7.5% of adjusted gross income, but whether a trust can pay directly for these subscriptions hinges on whether they are considered qualified medical expenses under the trust terms. Steve Bliss explains that documentation supporting the medical necessity of the subscription is paramount.
What Happened When Old Man Hemmings Didn’t Plan Ahead?
I remember Old Man Hemmings, a retired carpenter, came to Steve Bliss several years ago, frustrated and distraught. His wife, Martha, had recently been diagnosed with a heart condition, and he’d signed her up for a remote monitoring service that tracked her heart rate and alerted the paramedics if anything went awry. It gave him, and her, peace of mind. After Martha passed, he tried to claim the subscription fees as an expense from her trust, but the trust document was very specific about covering “traditional” medical expenses – doctor visits, hospital stays, medications. The subscription wasn’t mentioned. He’d lost nearly $1,500, a significant sum for a man on a fixed income. He felt he’d failed to provide for his wife even *after* she was gone, and it was heartbreaking. His story serves as a cautionary tale about the importance of forward-thinking estate planning.
How Did the Millers Get It Right with Proactive Planning?
The Millers, a lovely couple preparing for retirement, approached Steve Bliss with a similar concern. They wanted to ensure their trust could cover the cost of a continuous glucose monitoring service for their son, David, who has Type 1 diabetes. Steve meticulously drafted their trust to specifically include “remote health monitoring services prescribed by a physician” as a valid expense. He also included language allowing the trustee discretion to approve other health-related technologies that could benefit David’s well-being. Years later, after a successful operation, they were able to pay for the monitoring service from the trust without any issues. It gave them immense comfort knowing they had addressed this potential expense and secured David’s ongoing care. As Steve Bliss often says, “Proactive planning is not just about avoiding probate; it’s about providing for the well-being of your loved ones, now and in the future.”
“Proactive planning is not just about avoiding probate; it’s about providing for the well-being of your loved ones, now and in the future.” – Steve Bliss
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About Steve Bliss at Wildomar Probate Law:
“Wildomar Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Wildomar Probate Law. Our probate attorney will probate the estate. Attorney probate at Wildomar Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Wildomar Probate law will petition to open probate for you. Don’t go through a costly probate call Wildomar Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Wildomar Probate Law is a great estate lawyer. Probate Attorney to probate an estate. Wildomar Probate law probate lawyer
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Estate Planning Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Services Offered:
estate planning
living trust
revocable living trust
family trust
wills
estate planning attorney near me
Map To Steve Bliss Law in Temecula:
https://maps.app.goo.gl/RdhPJGDcMru5uP7K7
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Address:
Wildomar Probate Law36330 Hidden Springs Rd Suite E, Wildomar, CA 92595
(951)412-2800/address>
Feel free to ask Attorney Steve Bliss about: “How do I start planning my estate?” Or “What is ancillary probate and when does it happen?” or “What happens if my successor trustee dies or is unable to serve? and even: “What should I avoid doing before filing for bankruptcy?” or any other related questions that you may have about his estate planning, probate, and banckruptcy law practice.