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I will be getting an inheritance and we are on government help.

Customer Question
I want to protect it...
I will be getting an inheritance and we are on government help. I want to protect it and get to use some without losing our health insurance, what can I do ?
Submitted: 1 year ago.Category: Estate Law
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Answered in 13 minutes by:
4/8/2016
Estate Lawyer: ScottyMacEsq, Attorney replied 1 year ago
ScottyMacEsq
ScottyMacEsq, Attorney
Category: Estate Law
Satisfied Customers: 17,250
Experience: Licensed Texas General Practice Attorney
Verified
Thank you for using JustAnswer. Just to be clear, you're talking about Affordable Care Act (ACA) subsidies?
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Customer reply replied 1 year ago
no we have medicaid health insurance
Estate Lawyer: ScottyMacEsq, Attorney replied 1 year ago
I see. As it's a Medicaid issue, not ACA, I'm going to opt out of this question and let someone else assist you further. Please be patient and someone will be with you soon.
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Customer reply replied 1 year ago
ok
Estate Lawyer: Infolawyer, Attorney replied 1 year ago
Infolawyer
Infolawyer, Attorney
Category: Estate Law
Satisfied Customers: 58,023
Experience: Licensed attorney helping individuals and businesses.
Verified
different expert, do you still need an answer and if so, what issue would you like addressed now? thanks
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Customer reply replied 1 year ago
My question still isn't answered !
Customer reply replied 1 year ago
I am getting an inheritance. I am on medicaid for my health insurance. I do not want to lose my health insurance. I also want to be able to use some of the money on my house that needs some things fixed. Is there a special account I can put it in or something I can do ? If I don't get an answer in 24 hrs. I am cancelling.
Estate Lawyer: Infolawyer, Attorney replied 1 year ago
Consider placing inheritance in an irrevocable trust. That way it is not in your name and better protects your benefits! Local bank can assist or counsel in setting up the trust account. I wish you the best. I trust the answer has been helpful. kindly let me know.
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Customer reply replied 1 year ago
Do I have to report this to the IRS and will I be taxed on it ?
Estate Lawyer: Infolawyer, Attorney replied 1 year ago
You would report it but there should be no tax
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Estate Lawyer: Infolawyer, Attorney replied 1 year ago
Kindly rate me positively. enjoy the weekend!
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Customer reply replied 1 year ago
If I put it in an irrevocable trust I can"t touch it, and there will be fees for doing this. I want to put it in somewhere where I can get to it and use it
Estate Lawyer: Infolawyer, Attorney replied 1 year ago
To get it and use it keep it in your name and add a trusted person such as spouse to title to protect from creditor claims. Not as protective as a trust but gives you ability to touch it. Kindly rate me good or better.
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Infolawyer
Infolawyer
Infolawyer, Attorney
Category: Estate Law
Satisfied Customers: 58,023
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