Legal Question in Elder Law in New Jersey

living trust

I am 44 yrs old and live with my 73 year old parents. we want to put the house in a living trust to protect. i am looking into doing this myself through the website legalzoom. Will this document be legalling binding or do i need to consult an attorney. they do not have a lot just the house and a few minor bank accounts. thanks for your time


Asked on 4/22/08, 8:50 am

2 Answers from Attorneys
Laura Foord Laura Akscin Foord LLC

Re: living trust

I would not recommend using a form for living trust in your situation. From your question I am assuming that you are seeking asset protection for medicaid purposes. The requirements are very specific for this. For example, there will be a disqualification period for assets transferred into an irrevocable trust.

In addition, there may be more viable options for your parents, based on the facts as stated in your question. I would recommend that you seek a consultation with a qualified elder law attorney before your parents make any transfer. In the long run the savings may be much greater.

My office does handle these kinds of issues. Also, there are attorneys who are members of the National Academy of Elder Law Attorneys (NAELA) who are well-qualified in this area.

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Answered on 4/22/08, 9:06 am
Robert Davies The Davies Law Firm, P.A.

Re: living trust

If you make any mistakes in your self-made legal work, it may cost a great deal of money, measured in thousands of dollars.

I do not do this work. I know some good lawyers who do.

For God's sake, get a lawyer.

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Answered on 4/22/08, 10:46 am


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