The Listen to Lawrence Letter: If we change our executor, will it affect the Medicaid lookback?
June 22, 2021
Dear Clients and Friends,
This next question seems very simple and thankfully, the answer is very simple. But, it’s a great example of why this type of question is so important to ask…knowing the answer can give you options that you may have thought were unavailable. The more information you have, the better you can plan. Keep the questions coming no matter how simple they seem.
Our daughter is our executor. We are wondering if we can change the person who would inherit her share, to someone else instead.
Would this change our 5-year look back in the trust, if we were to do this?
My Irrevocable Medicaid trusts allow you to change the beneficiaries of the trust at any time, usually limited to your issue (i.e. children, grandchildren, great-grandchildren). Changing the beneficiary has no effect on the 5 year look back.
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Until next time…
peace, health and happiness,
Lawrence Eric Davidow