| Selling the house in the trust.
CLIENT QUESTION:
Currently, I am not planning on selling my house but maybe in the future. Is it difficult to sell and buy another house here or out of state and keep it in the trust? Other than property taxes to the town are there any other fees to having the house in the trust? My house has no mortgage.
MY RESPONSE:
The house is the most common asset that we place into an irrevocable Medicaid trust. It is not difficult to have the house in the trust nor to sell it and buy another one at any time (in any state). You will personally continue to pay all the expenses on the house, including the taxes, insurance, and maintenance. Easy peasy!
I hope this helps. |
