Legal Question in Wills and Trusts in Illinois

custodial fee

I recently sold my father's condo. The proceeds will go to his nursing home and afterwards he will be applying for medicaid. Am I entitled to a custodial fee for paying his bills and taking care of his financial affairs?


Asked on 4/09/07, 6:06 pm

1 Answer from Attorneys
Joseph Michelotti Michelotti & Associates, Ltd.

Re: custodial fee

There are ways to keep this money from being used to pay the nursing home. That is, if done properly, this money can be transferred and you can apply for medicaid right away.

1. Certain kinds of government sanctioned trusts;

2. Care agrements (payable to you)

3. Certain kinds of government approved annuities; and

4. Direct transfers to you.

All depends on you dad's specific facts.

Email me if you would like more information.

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Answered on 4/09/07, 6:24 pm


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