Is is true that IRA accounts are beyond reach of medicaid regarding nursing homes?
Medicaid has special rules for IRA/retirement accounts - you should contact an experienced elder law attorney to understand your options
Hauppauge, NY
Elder law Lawyer at Hauppauge, NY
Practice Areas: Elder Law, Estate Planning, Trusts
Medicaid has special rules for IRA/retirement accounts - you should contact an experienced elder law attorney to understand your options
There are things that can (and should) be done now - you should contact a local, experienced elder law attorney to assist you and your parents
you can give power of attorney to anyone you choose - someone who you trust. You can also give them as much or limited power as you choose. you...
I agree with the previous answers - assets passing upon death generally receive a step-up in basis (by probate or otherwise)
would need to know what you mean by a "Medicaid trust" to properly answer your question.
You should contact the attorney or another experienced elder law attorney to understand your options regarding the trust. Also to discuss Medicaid...
You should immediately consult an experienced attorney to determine the impact on your eligibility and what options you have to deal with it
If she transferred her home in 2006 and retained a life estate and died in 2013, for practical purposes ownership transfer was completed upon her...
It depends on the trust document. The trust should state if/when it becomes irrevocable. It's possible that half becomes irrevocable upon first to...
I agree with the previous answers and would just add that if you are planning on transferring your co-op to the irrevocable trust you should check...