Legal Question in Wills and Trusts in Virginia
trust??
My sister has a learning disorder which has limited the amount of money that she will earn in her lifetime.
Although she works, she will never be able to financially take care of herself.
My uncle died several years ago and left her money which we have placed in an IRA/CD.
She has recently gotten sick and the family would be interested in filing for Medicaid which we do not believe that she will be eligible for due to the money that she inherited.
However, the money that was left is in her name as well as 3 family members.
This is money that will be used to take care of her everyday needs as she gets older.
Is there anything that we can do legally to protect her inheritance yet file for Medicaid if she becomes ill once again?
1 Answer from Attorneys
Re: trust??
As far as I am aware, your sister's inheritance (if not spun down, meaning spent), at some point would have to be considered as a factor in her eligibilty for Medicaid (assuming that it somehow cannot be preserved in a trust that would be exempt which I have reason to doubt).
And, even if her inheritance share were all spent by next year, there's a so-called "look back" period of some five years or so which would also likely have to be taken into account in evaluating her eligibilty for Medicaid benefits.
You would appear well advised to arrange for a consultation on these matters with an attorney who regularly practices in the areas of Medicaid and related law issues and who should be able to further advise you.
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