For medicaid purposes, I was advised to establish an Income Trust. The DPA states I can create any number of Inter Vivos trusts. My question is: is an income trust an inter vivos trust?
Asked on 9/16/14, 11:26 am
1 Answer from Attorneys
Kyla Kelim
Aging in Alabama
Yes. You have to establish the qualified income trust to qualify for Medicaid, and the inter vivos trust clause will work. Its really a bank account, or a legal fiction, that permits qualification. Inter Vivos means "during life."
Answered on 9/16/14, 11:37 am
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