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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 33784
Experience:  15 yrs estate law, real estate. Wills/Trusts/Probate
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Does the Government get into Revocable Trusts

Customer Question

Does the Government get into Revocable Trusts
Submitted: 6 months ago.
Category: Estate Law
Expert:  Barrister replied 6 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

Expert:  Barrister replied 6 months ago.

If you are you asking if a revocable trust provides asset protection for the owner from those assets being considered "countable assets" for Medicaid eligibility, the answer is unfortunately no..

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Since a revocable trust is revocable, the maker of the trust can revoke it at any time so they are still considered the beneficial owner of those assets for Medicaid purposes.

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If the trust was irrevocable, and the assets had been put into it at least 5 years before any application for benefits, they would not be countable.

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thanks

Barrister

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