Irrevocable Trust

It depends on what needs to be amended, and why, in the irrevocable trust. There may be a power in the trust that allows for certain changes. It...

Grantor vs.family trust?

None of the above. The parent would want to place either the home or the sale proceeds into an irrevocable trust. Still, there is a five year...

Does a husband get part of an estate if not in the will

Yes. Unless there is a valid prenuptial agreement where the husband had agreed to give up his rights, a spouse cannot be disinherited. The spouse...

Medicaid and trusts

In New York, you would need to apply and be accepted to the pooled trust prior to applying for Medicaid. There are a number of good pooled trusts...

My uncle, who resides in NY state is currently in a coma. My father has a medical power of attorney, but not a general one.

Unfortunately, your only option may very well be for your father to seek guardianship over your uncle. There is a special guardianship that would...

I have a mortgage on my house, if I die before it is paid off, will my heirs be able to continue to pay the mortgage monthly?

Yes. In fact, they would be required to do so if they wish to keep the house. Disclaimer: Please note that this answer does not constitute...

What is the 5 year rule when someone transfers a house to one of 4 children's name ?

I'm sorry about your father. Unfortunately, the five year rule relates to the lookback period for Medicaid. If one gifts an asset, Medicaid will...

5 year look back

Yes, as you noted, there is a five year look back for Medicaid purposes on gifts. Should one of your parents need to go into a nursing home in...

In New York there is such a thing as spousal refusal. Your mother can refuse to contribute to your stepfather's care. However, the state has a...

Medicaid

You can prepare the medicaid application. The nursing home may help, but if there is anything complicated about the application, such as real...