Legal Question in Wills and Trusts in West Virginia
trusts
My 91 yr old mother in hospital, just diagnosed with seizures and parkinsons but otherwise in good health, must go to a geriatrics rehab center for rehab. We want to put her money in a trust account in the names of all four siblings. She is not dieing,per her attending physician. Can we do this or is there a time sequence issue here? We will have to sell her homestead eventually to cover costs, but want to perserve the money she had kept for our inheritence. What steps can we take to do this or is it too late?
1 Answer from Attorneys
Re: trusts
It may not be too late. There is a "look back" period for medicare and medicaid when it comes to their ability to recover money. However, there are numerous exemptions and allowances that may be available.
Your family, including your mother, should talk to an Elder Law attorney who also handles Estate Planning and asset protection. If you need a referral to one in the area where your mother lives please let me know.
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