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John Legal
John Legal, Attorney
Category: Legal
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Experience:  Over 15 years legal experience.
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We were advised to get a family trust for our mothers home.

Resolved Question:

We were advised to get a family trust for our mothers home. She has health problems that may require her in need for assistance for different programs later, including assistant living. This being the last resort, if need be, she wants to be able to qualify but protect her home from the county or state.
Is this something we can do quickly and would this indeed protect us from her home being used as calateral against assistance??
Submitted: 4 years ago.
Category: Legal
Expert:  John Legal replied 4 years ago.
Thank you for trusting Just Answer. I will answer as clearly as possible.

The general family trust would NOT protect the home for the purposes of qualification of government benefits in the future. An Irrevocable Grantor Trust likely would protect the home and allow qualification but only after 5 years of ineligibility after creation and funding of the trust. There are other possible techniques that will protect the home if 5 years of ineligibility is not an option. However, those techniques and the use of an irrevocable trust are very complex and involve many issue with regard to family dynamics, taxes and government benefits eligibility. You would really need to seek the experienced advise of an elder law attorney. You can find one at www.naela.org

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