The Listen to Lawrence Letter: Medicaid Trusts are very flexible

CLIENT QUESTION:

Under what scenario would my Irrevocable Medicaid Trust pay out money to children? I thought that the trust essentially locked the assets contained within it (property, bank accounts, etc.) Thank you once again.

MY RESPONSE:

Whenever it tickles your fancy! I design my trusts so that the trustee can take money out of the trust at any time and give it to the trust beneficiaries (i.e., your children and grandchildren) BUT BUT BUT…ONLY WITH YOUR PRIOR CONSENT!

And, if anyone you know would like to receive this

Listen to Lawrence Letter, just have them email me at

info@davidowlaw.com and I’ll add them to the list!

As always, please send me your questions. If you are thinking about it, others are probably too, so my answers will no doubt help you and many others.

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Stay safe!