[header] How to protect estate assets of someone on medical assistance [title] Choose the type of trust. [step] To protect the estate assets of someone on medical assistance using a trust, the trust created generally must be irrevocable. Creating a revocable trust would mean the person still had control over the assets in the trust.
[header] How to protect estate assets of someone on medical assistance [title] Choose the type of trust. [step] To protect the estate assets of someone on medical assistance using a trust, the trust created generally must be irrevocable. Creating a revocable trust would mean the person still had control over the assets in the trust.
[substeps] Certified wealth and/or personal assets will form a separate list from those in the trust. [title] Decide if to transfer assets to you. [substeps] With an irrevocable trust, however, the person no longer owns the assets. Rather, the assets belong to the trust. [substeps] To create a revocable trust, you may disclose your privacy. If you provide nothing but a personal statement, then you are legally restricted from making a trust without a revocable statement. But your estate's trustee or representative could modify the trust's irrevocable provision in place. [substeps] A revocable trust is a trust that is executed by a couple on a mutual agreement.