Special needs trusts (also known as "supplemental needs" trusts) are an important component of planning for a di...Read more
Yes, you can create a trust in your will for your husband’s benefit. If properly drafted, the trust won’t be counted as available to your husband in determining his eligibility for Medicaid, but the funds in the trust can still be distributed to him or used on his behalf. Someone other than your husband, however, would have to serve as trustee. Trusts created in wills are known as testamentary trusts and qualify for this safe harbor. In contrast, if you were to create a trust for your husband during your life, the funds would not be protected, even if you were to fund the trust through your will. Only testamentary trusts receive this protection. As we often counsel our clients, don’t look for logic in the Medicaid rules.
For more information on Medicaid and trusts, go here: https://www.elderlawanswers.com/medicaid-and-trusts-12004.
Local Elder Law Attorneys in Ashburn, VA
In practice since 1987, Fairfax Attorney Evan Farr is widely recognized as one of the leading Elder Law, Estate Planning, and Specials Needs attorneys in Virginia and one of foremost experts in the Country in the field of Medicaid Asset Protection and related Trusts. Evan Farr has been quoted or cited as an expert by n...
Judith Mtinick is well known for acting as a guardian, conservator, trustee or agent on behalf of clients or by court appointment. This experience gives her a wide perspective and extensive practical knowledge that she uses when advising clients in drafting their planning documents. Her experience, as a court appointed...
Medicaid Rules, etc