trusts

Complete guide to real estate ownership

Probate can be a somewhat costly adventure for the estate as an attorney is generally hired to help the executor through the process. The legal costs may range from 2-4% of the value of the probate estate. The probate estate consists of the value of all the assets owned in an individual’s own name as of the date of death. For this and many other reasons, families generally desire to avoid probate and the best way to accomplish this is for individuals to simply die not owning assets in their own name.

What you need to know about Medicaid irrevocable trusts

The Use of Irrevocable Medicaid Income Only Trusts

Question:  Who would consider using these Medicaid irrevocable trusts?

Top Misconceptions about Medicaid Irrevocable Trusts

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“I can’t be my own trustee.”

Often times, the Donor would like to serve as trustee of the trust thereby significantly increasing the Donor’s control over the operation of the trust assets during the Donor’s life. There is support for this position in Massachusetts where there is a case entitled Ledger vs. Department of Medical Assistance in which the Court indicated that, while this may appear to be an unappetizing maneuver, it nonetheless fails to contravene any rule or regulation.

An Operational Guide to the Use of Irrevocable Medicaid Income Only Trusts

Question:   
Who can be the Donor of these irrevocable trusts and what does that mean?

Answer:

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