Trust cost for Elder care

Discussion in 'Off-topic' started by xls177, Jul 25, 2017.

  1. xls177

    xls177 Member

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    What does it cost for a irrevocable trust for a House for elder care purposes?

    Any pitfalls to doing this ?
     
    Last edited: Jul 25, 2017
  2. gunsmoker

    gunsmoker Lawyer and Gun Activist

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    I'd ask a financial planner and /or an "elder law" attorney.
    I know Medicaid may still consider assets you put in an irrevocable trust to be yours, if you did that within 5 years of applying for Medicaid assistance, if other circumstances are met.
    You need real professional advice here.

    I'm guessing that if a Trust (with or without a will) is the answer, the cost is probably going to be a couple thousand dollars for a lawyer to draw that up.