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Elder Law, Powers of Attorney, Living Wills (Advance Health Care Directives) : Includes Court Appointed Conservatorship, Elder Abuse, Durable Powers of Attorney, etc.
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Old 10-17-2009, 04:30 AM
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Is a Revocable Trust my best option?

My elderly mother owns a condo worth only about 30k, with furnishings, and not much else. I will be the only beneficiary when she passes. Is setting up a revocable trust my (and her) best option? Is she named as the trustee? Is there a downside? Does it have any affect at all regarding her assets when applying for Medicaid diversion? thank you.
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Old 10-17-2009, 10:36 AM
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You did not mention your state as requested.

Depending upon her state of residence, if her estate is likely to be only around $30K, it may not be cost effective to create a trust.

A revocable trust will not provide Medicaid protection.
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Last edited by anteater; 10-17-2009 at 11:16 AM.
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