A Primary Method of Asset Protection
This Trust is irrevocable and used to protect assets from a Nursing Home. This type of Trust is often used to protect your home or other property. This type of Trust represents a transfer and careful planning and timing is required. An outright transfer of your home to a child or children, particularly if they don’t reside there as their principal residence, can cause large capital gain tax and termination of real estate tax exemptions.
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Family Trusts
Living Trust
Special Needs Trust
Trust and Estate Collections
Trust and Estate Collections
Trust and Estate Collections
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Trusts and Estates
Powers of Attorney
Trust Administration
Powers of Attorney
Trust Administration
Powers of Attorney
Trust Administration
Trust Litigation
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What if No Planning was ever done and a Nursing Home Stay is required?
Even at this late juncture, if proper techniques are utilized, you can often protect upwards of one-half of non-exempt assets.
What if I give gifts to my children and family members?
Medicaid will treat any such gift made within 5 years as a “transfer” subjecting the amount of a gift to a penalty period.