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Author: rkmacdonald Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19553  
Subject: Re: Gift Trust Date: 10/6/2001 6:36 PM
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Author: puffertail Date: 10/5/01 9:38 PM Number: 7383
If you turn your stock portfolio over to a gift trust. The portfolio generates income that you receive. You are the trustee but the income goes to someone else who then writes out a check to you for the income. Because the portfolio and income is not attached to you, you would qualify 100% for Medicaid long term care. The house would also be out of your name and in the name of your heirs.

I'll be watching for other responses, because I haven't heard of a 'Gift Trust'. However, it sounds like you're describing a CRT (Charitable Remainder Trust), and everything you said about it is generally correct, except, that the portfolio doesn't go to your heirs when you die. It goes to the charity you chose.

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