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Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself.
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Archives

Tag Archives for: "Medicaid trust"
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 Will House in Medicaid Planning Trust Receive Step-up in Basis?
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By Harry Margolis
In Irrevocable Trusts, Real Estate
Posted November 7, 2022

Will House in Medicaid Planning Trust Receive Step-up in Basis?

Question: My father created an irrevocable trust of which I am trustee and beneficiary. He put his residence into the trust for Medicaid planning purposes. He has since passed away. Did the [...]

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 Must I Put My Home in Trust to Protect it from Medicaid?
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By Harry Margolis
In Irrevocable Trusts, Long-Term Care Planning
Posted June 13, 2022

Must I Put My Home in Trust to Protect it from Medicaid?

Question: Is it necessary to put assets into a trust, and does this protect your home from Medicaid? Response: It’s certainly not necessary to place assets into a trust, but trusts can [...]

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 For MassHealth, Will Home in Trust Become Non-countable if Sold?
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By Harry Margolis
In Long-Term Care Planning
Posted January 10, 2022

For MassHealth, Will Home in Trust Become Non-countable if Sold?

Question: MassHealth regulation 520.024 seems to me to state that any non-principal residence in a trust — even one created by will and where the trustee has no requirements regarding [...]

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 Does Step-Up in Basis at Death of Joint Owner Apply Only to Her Half of Real Estate?
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By Harry Margolis
In Long-Term Care Planning, Real Estate
Posted November 17, 2020

Does Step-Up in Basis at Death of Joint Owner Apply Only to Her Half of Real Estate?

Question: Brother and sister owned highly-appreciated real estate jointly with rights of survivorship.  Sister passed last year so now brother owns it 100% and would like to move it to an [...]

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 Do Miller Trusts have to File Income Tax Returns?
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By Harry Margolis
In Long-Term Care Planning
Posted March 19, 2020

Do Miller Trusts have to File Income Tax Returns?

Question: Does a Miller trust need to file an income tax return in Delaware? The trust is funded by a pension and Social Security. The funds go into the trust and are taken out by the nursing [...]

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 Can Property in a Medicaid-Planning Trust Get a Step-Up in Basis Upon the Grantor’s Death?
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By Harry Margolis
In Long-Term Care Planning
Posted September 20, 2019

Can Property in a Medicaid-Planning Trust Get a Step-Up in Basis Upon the Grantor’s Death?

Question: Is there a way to create a grantor “irrevocable trust” that allows the beneficiaries to receive a step-up in basis of a home at death? If so, can this be considered a gift [...]

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 Are Tax Planning Trusts Protected for Medicaid Purposes?
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By Harry Margolis
In Estate and Gift Taxes, Long-Term Care Planning
Posted July 19, 2019

Are Tax Planning Trusts Protected for Medicaid Purposes?

Question: If a spouse passes away and has an ABC trust structure (marital trust, bypass trust, QTIP trust) and each of these trusts are funded for the benefit of the surviving spouse, are any of [...]

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 Are Irrevocable Trust Funds Countable for Purposes of Medicaid Eligibility?
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By Harry Margolis
In Irrevocable Trusts, Long-Term Care Planning
Posted August 3, 2018

Are Irrevocable Trust Funds Countable for Purposes of Medicaid Eligibility?

Question: Are irrevocable trusts considered countable assets when seniors are applying for community Medicaid? Response: It depends on the trust. In evaluating a trust, the first question is who [...]

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By Harry Margolis
In Long-Term Care Planning, Social Security
Posted March 9, 2018

Will Discretionary Trust Without HEMS Standard Affect Brother’s Eligibility for Medicaid?

Question: I am trustee for a trust that my parents set up for my brother. The trust gives me total discretion as to when and how much to distribute to him without a HEMS standard. There is no [...]

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  • Asset Protection (34)
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  • Estate and Gift Taxes (55)
  • Guardianship and Conservatorship (5)
  • Health Care Directives (13)
  • Irrevocable Trusts (49)
  • Long-Term Care Planning (170)
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  • Revocable Trusts (98)
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  • Social Security (18)
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