| Revocable trusts and look-backs…read on:
CLIENT QUESTION:
I have a revocable trust, no children, and one brother. If I sell my house how will this affect my 5-year look-back, if at all? And, if I use the full amount of the sale for a new residence, how will that affect my 5-year look-back? Thank you.
MY RESPONSE:
Selling your house will have no impact on your look-back because you have no look-back. Revocable trusts do not start look-backs because you never really gave anything away. Remember, if it is revocable you can get the assets back from the trust at any time…and if you can get them, Medicaid can get them. Only an irrevocable Medicaid trust would start a look-back period.
I hope this helps. |
