You may have heard the term “estate recovery” before and wondered what it meant. This is a process that can occur after a Medicaid recipient dies. Their state may attempt to recoup whatever benefits it had paid for their care from the deceased person’s estate. For most Medicaid recipients, their house is the only […]
A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a “trustee,” holds legal title to the property for another person, called a “beneficiary.” Trusts fall into two basic categories: testamentary and inter vivos. A testamentary trust is one created by your will, and […]
Is a trust necessary in your estate plan? The answer may surprise you.