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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
