Can Property in an Irrevocable Trust Be Sold or Gifted Without Restarting the Medicaid Look-Back Period?
My parents have an irrevocable trust that contains land, money, and real property. It was set up as part of Medicaid plann...Read more
No. The creation and funding of an irrevocable trust, whether creating a brand new trust or amending a revocable trust to make it irrevocable, within five years of applying for Medicaid will result in a Medicaid penalty period. You could end up being ineligible for Medicaid benefits for up to five years. To find out if there is anything you can do, we suggest consulting with an elder law attorney in your state. To find one near you, go here: https://www.elderlawanswers.com/USA-elder-law-attorneys.
Local Elder Law Attorneys in Ashburn, VA
Bill founded The Estate Planning & Elder Law Firm, P.C. in 1994. Bill limits his practice to the areas of estate planning and administration, incapacity planning, Medicaid, asset protection planning, and elder law. He is one of (15) fifteen attorneys practicing in Virginia, Maryland and the District of Columbia, ce...
Ron M. Landsman has been practicing elder law since 1983, before it was known as elder law, originally with Landsman and Laster, Washington, D.C., then Landsman, Eakes and Laster, also in Arlington, VA, and since 1990 in his own practice in Montgomery County, Maryland. He has been among the most active members of the...
Medicaid Rules, etc