Legal Question in Wills and Trusts in New York

Re: irrevocable trusts

The allowable income level for institutional (nursing home care) for each of them is only $ 50.00. Any surplus monthly income is redirected to the Dept. of Social Services as a contribution of their health care costs. You should retain an attorney to draft an estate plan in order to preserve their assets.

Re: irrevocable trusts

This is a general reply, without having seen the documents or read the language that allows them to continue to get the dividends. It appears they retained an interest in the income of the trusts, so the potential continuation of the income will be added to their social security income to determine if they qualify for Medicaid assistance. More facts are needed to give you a better answer, as there are several more bits of information needed, such as: the actual language of the trust, is their entitlement to income absolute or discretionary with the trustee, who are the trustees, when was the trust created and funded, what other assets do they have that might not be in the trust (like their home - do they own it or rent). I suggest you gather this informnation and speak with a good elder law attorney, familiar with Medicaid laws.