Paying for a nursing home can seriously deplete your retirement savings. The government-funded Medicaid program can pay some ...

An irrevocable Medicaid trust is designed to help someone qualify for Medicaid without having to deplete their own assets. After creating the trust, they can transfer in enough assets to bring ...

For many the word “trust,” when used in the context of estate planning, brings up images of stereotypical wealthy individuals. However, although trusts may be used by the wealthy to preserve ...

The irrevocable Medicaid trust does not affect your lifestyle. You still receive pension and Social Security checks. You have the exclusive right to use and enjoy your home for life.

After a dementia diagnosis, families often wonder how much care will cost. If the person with dementia wants to stay at home, ...

The bottom line Medicaid planning requires careful thought.. Websites with more information nwsdy.li/longtermcare and nwsdy.li/nursinghomerates. TO ASK THE EXPERT Send questions to Ask the Expert ...

An irrevocable trust is a type of trust that, once established, generally cannot be altered, amended or revoked by the grantor without the consent of the trust's beneficiaries or a court order.

In addition, an irrevocable trust would involve increased costs since you would have to retain an attorney to draft it. The usual approach is to enter into a prepaid contract with a funeral home.

Irrevocable trusts are for those who want to avoid estate tax,” says Erik M. Baskin, a CFP professional and founder of Baskin Financial Planning in Dayton, Ohio. The decision, however, is not ...

The government-funded Medicaid program can pay some or all nursing home ... Continue reading → The post Does an Irrevocable Trust Protect Assets from Nursing Homes? appeared first on SmartAsset ...