yes, I do have such a trust. One important thing, at least in my state, is that whatever you put into the trust can be accessed and counted by anyone including Medicaid for five years. For example, if you put in $5,000, Medicaid can count that as a resource for the first five years. After that it is completely safe. It works like this: day one $5000 is unprotected. After year one $1,000 is projected. After year two $2,000 is unprotected etc. until you reach year five when all $5,000 is protected. So just remember that there is a waiting period until all your money is safe. But even after the first year, 1/5 of it is safe. You can put anything into an irrevocable trust, including cash, bonds, stocks, houses, cars -- you name it. It's a wonderful device.
Dan
- Message from lwillis82...@msn.com -
Date: Sun, 8 Apr 2012 13:05:39 -0400
From: William Willis lwillis82...@msn.com
Subject: [QUAD-L] FW: [Quads United] A FELLOW QUAD, BOBBIE HUMPHRIES SAID I COULD POST...
To: quad-list@eskimo.com
Bobbie, some very interesting and valuable information. Unfortunately, I don't have a trust fund other than trust in the Lord. The expense and red tape are
just mind-numbing.
Date: Sun, 8 Apr 2012 06:30:41 -0700
To: quadsuni...@groups.facebook.com
From: notification+ma24w...@facebookmail.com
Subject: [Quads United] A FELLOW QUAD, BOBBIE HUMPHRIES SAID I COULD POST...
Michael Vestal posted in Quads United
Michael Vestal
9:30am Apr 8
A FELLOW QUAD, BOBBIE HUMPHRIES SAID I COULD POST THIS HERE ON FACEBOOK I THOUGHT WAS VERY INFORMATIVE:
