property trusts?

[unteagle1976]

Texas. Anybody know anything about having a trust of property. Like my parents have property and they were thinking about putting it into a trust. What are the benefits of this? Also, does this mean that if they get really sick and have to be put in the hospital the hospital won't be able to just grab up the property. that kind of stuff. And is there a five year lookback on something like this?

 

[FlyingRon]

A trust provides a way to administer the property and can make things easier after their death. A revocable trust won't protect the assets from medicaid or other debtors, nor will it trigger any sort of lookback. Almost any mechanism that can hide it from medicaid will trigger loopback issues. Your parents should consult an estate/elder planner. There's tons of issues they should be looking at.

 

[HomeGuru]

Texas. Anybody know anything about having a trust of property. Like my parents have property and they were thinking about putting it into a trust. What are the benefits of this? Also, does this mean that if they get really sick and have to be put in the hospital the hospital won't be able to just grab up the property. that kind of stuff. And is there a five year lookback on something like this?

**A: there is an abundance of information online, books, seminars etc. And different types of trusts. So keep searching and post back specific questions after you complete your thorough research.