Submitted by Anonymous on Mon, 02/15/2010 - 09:21
I think I would rather have a revocable trust for more control over my assets. But does that mean the property in the revocable trust could be counted and make me ineligible for Medicaid? Thank you.
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Editor's Response
Yes, that is the trade-off with Medicaid planning. When you put property in a revocable trust, you generally maintain control over and access to the property. As a result, those assets are considered "countable" when your application for Medicaid is considered. Follow this link for more information irrevocable trust and about the "disqualification period" This is truly a tricky area of estate planning, so please talk to an estate planning attorney about your unique situation before making any decisions. Good luck.