Legal

Ask a lawyer and get answers to your legal questions

Ask a Lawyer,
Get an Answer ASAP!

My husband and I are considering doing a revocable trust.

Customer Question
My husband and I...

My husband and I are considering doing a revocable trust. Does that protect your assets in the event of long term care cost? We have several rental properties. Or do we have to put our properties in our children's names?

Lawyer's Assistant: Since estate law varies from place to place, can you tell me what state this is in?

Indiana

Lawyer's Assistant: Has anything been filed or reported?

Not sure what you are asking? We have been landlords for 14 years and just follow the laws.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

We are currently healthy.

Submitted: 4 months ago.Category: Legal
Show More
Show Less
Ask Your Own Legal Question
Answered in 3 minutes by:
2/2/2018
Lawyer: Ray, Lawyer replied 4 months ago
Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 47,671
Experience: 30 years in civil, probate, real estate, elder law
Verified

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.

Ask Your Own Legal Question
Lawyer: Ray, Lawyer replied 4 months ago

You would need to either put them in the kids names or an irrevocable trust.A revocable one does not shield them from medicaid.You really need an elder law lawyer here to help you shelter the assets and create the irrevocable trust.

You want a NAELA lawyer locally to help you with this.They can help you avoid medicaid problems.Its the National Association of Elder Lawyers..

http://innaela.org/members/

You are smart to deal with this now and resolve it.

I appreciate the chance to help you today.Thanks again.

If you can positive rate 5 stars it is much appreciated.

Ask Your Own Legal Question
Customer reply replied 4 months ago
Is there an NAELA lawyer on this site that I can continue my questions with?
Lawyer: Ray, Lawyer replied 4 months ago

I can answer any questions you have just ask.

Ask Your Own Legal Question
Customer reply replied 4 months ago
No I do not want to talk by phone and I do not want to spend that kind of money yet.
Lawyer: Ray, Lawyer replied 4 months ago

Ask anything you have here,thanks

Ask Your Own Legal Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Ray Your Own Question
Ray
Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 47,671
47,671 Satisfied Customers
Experience: 30 years in civil, probate, real estate, elder law

Ray is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it.

LeeMichigan

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

8,775 satisfied customers

JD, BBA Over 25 years legal and business experience.

Ely

Ely

Counselor at Law

24,642 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

INFOLAWYER

INFOLAWYER

Attorney

22,059 satisfied customers

Licensed attorney helping individuals and businesses

JPEsq

JPEsq

Attorney

2,132 satisfied customers

Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor

Law Educator, Esq.

Law Educator, Esq.

Attorney

43,763 satisfied customers

JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law

Ellen

Ellen

Lawyer, Consultant

8,238 satisfied customers

25 years of experience helping people like you.

Guillermo Senmartin

Guillermo Senmartin

Lawyer

297 satisfied customers

Principal Attorney at Guillermo J. Senmartin, P.A.

< Previous | Next >

Related Legal Questions
Can a custodian for a minor open an irrevocable trust
Can a custodian for a minor open an irrevocable trust account for that minor in which the custodian and minor are both settlors and the custodian is the sole Trustee without the signature of the minor… read more
Robert L
Robert L
Juris Doctor
80 satisfied customers
Can an irrevocable trust own 100% if the common stock of an
Can an irrevocable trust own 100% if the common stock of an LLC with the Trustee of the trust and the President of the LLC the same person?… read more
Andrew
Andrew
Attorney
Juris Doctorate
360 satisfied customers
I have a irrevocable trust for my house and now I'm selling
I have a irrevocable trust for my house and now I'm selling it can i use the money I make to buy a condo which I found but won't be built for awhile? … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,171 satisfied customers
Short version. AZ irrevocable trust. Mom went to an attorney
Short version. AZ irrevocable trust. Mom went to an attorney in 1992, and had attorney write up her trust. Years later, mom changed Trust. She did not go to an attorney. She made changes to beneficiar… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,171 satisfied customers
As the beneficiary of an irrevocable trust, and husband, but
As the beneficiary of an irrevocable trust, and husband, but not the trustee, am I responsible for any expenses associated with the real property? … read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
1,223 satisfied customers
If I have a irrevocable trust and still alive can I change
If I have a irrevocable trust and still alive can I change the trustee my simply making the change and having it notarize … read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
37,442 satisfied customers
I have a Revocable Trust I set up in 2008 with $1.00. Is it
I have a Revocable Trust I set up in 2008 with $1.00. Is it still viable and how do I fund it? … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,171 satisfied customers
I am single and want to set up a Revocable Trust. I have an
I am single and want to set up a Revocable Trust. I have an 11 year old child. Although my ex husband will be the sole custodian for my daughter,I dont want him to control my assets for her. … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
We have an irrevocable trust that was set up for my children
We have an irrevocable trust that was set up for my children to be taken care of in the event of our death. My husband being our financial planner and also a registered insurance person we set this up… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,171 satisfied customers
I have a revocable trust that i would to amend can 8 make
i have a revocable trust that i would to amend can 8 make the amendment w a wriiten change and get it notorized? … read more
KLAW
KLAW
Juris Doctorate
2,178 satisfied customers
Regarding a Revocable Trust - after the person dies, if
Regarding a Revocable Trust - after the person dies, if there are two daughters as co-trustees and they live far apart, do they have to have every item agreed upon in writing, before the trustee who i… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
If a revocable trust is put on a house in one will then
If a revocable trust is put on a house in one will then another will is drawn up how do you get rid of the trust? … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,171 satisfied customers
I have a will and a revocable trust. My daughter who is
I have a will and a revocable trust. My daughter who is Executor wants to make some changes, which I also want to do. Do I have to hire an attorney or is another legal source that could help me?… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,171 satisfied customers
In a Revocable Trust where a married couple are Trustees,
In a Revocable Trust where a married couple are Trustees, what jurisdiction does a Grantor have over the Trustees?… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,171 satisfied customers
A married couple creates a Revocable Trust. The majority of
A married couple creates a Revocable Trust. The majority of the Estate is in only one of their names; does this effect the ownership of the Revocable Trust.Should the ownership of the Revocable Trust … read more
DrakeLAW
DrakeLAW
Juris Doctorate
1,038 satisfied customers
Is having a revocable trust a hindrance/prohibition to
Is having a revocable trust a hindrance/prohibition to paying down one's assets in order to qualify for medicaid to get long-term care? … read more
Ray
Ray
Lawyer
47,671 satisfied customers
My father presently has a revocable trust where upon his
My father presently has a revocable trust where upon his death a certain percentage goes to me and my brother with my college age son as back up beneficiary.I believe if my father gets ill, I was name… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,171 satisfied customers
I need a form to oust the Trustee of an Irrevocable Trust.
I need a form to oust the Trustee of an Irrevocable Trust … read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
37,442 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x