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RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 42184
Experience:  Texas lawyer for 30 years in Estate law
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A family trust was established around 2000. Mom is now trying

Customer Question

A family trust was established around 2000. Mom is now trying to apply for medicaid for dad (both age 90) and was wondering if assets in trust have to be disclosed on medicaid application
Submitted: 2 years ago.
Category: Estate Law
Expert:  RayAnswers replied 2 years ago.
Hi and welcome to JA. I am Ray and will be the expert helping you today.
Yes you would have to disclose it here.It may be exempt as a resource if she doesn't have access, any income she receives is then counted only in the month it is received.
So disclosing here is the right way to handle it , it likely is not counted as a resource.If she receives payments they are added to her monthly income otherwise once reported that is the end of it.They may want a copy of the trust to verify that it is irrevocable or discretionary and that she cannot access it.
I appreciate the chance to help you today.Please let me know if you have more follow up.Thanks again.
Customer: replied 2 years ago.
As I understand their trust is revokable. So do I understand that if she has as an example $10,000.00 in some kind of account with a credit union and she gets a check each month from that account, she discloses the monthly amount? or does she disclose the entire amount?
Expert:  RayAnswers replied 2 years ago.
She would only need to disclose any monthly payments received and the existence of the trust or trust account.If it varies here then only the amount each month. These guys already get matches from IRS so they will know what is getting reported. There was a time when medicaid did not have access to such banking records but now they do.Anything she is getting here under her social security number they will know about it and use it to verify what you put on application.So know they are checking here to see you report anything she gets each month. Thanks for the follow up.
Expert:  RayAnswers replied 2 years ago.
I appreciate the chance to be of service.If you can leave a positive rating it is always much appreciated.